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Income Tax - Highlights / Catch Notes

Home Highlights May 2021 Year 2021 This

TDS u/s 195 - interest u/s. 201(IA) - The levy of interest to ...

Income Tax

May 5, 2021

TDS u/s 195 - interest u/s. 201(IA) - The levy of interest to compensate for the delay in realization of taxes, in the event of the taxability of subject income being upheld, is reasonably protected. In a situation in which, however, no income is held to be taxable in India, no demands under section 201 r.w.s. 195- including demand under section 201(1A) r.w.s. 195., which are inherently in the nature of vicarious liability, survive. Viewed thus, the present dispute is wholly tax neutral. - AT

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