Bookmarks   Feedback   Annual Subscription   New User   Login  
Tax Management India .com   
   TMI - Tax Management India. Com   
AO cannot re-open assessment merely for non filing of ITR unless the total income is exceeding maximum amount which is not chargeable to tax    *    Central Excise Exemption of ₹ 150 Lakhs    *    Applicability Of Service tax on Liquidated Damages    *    Cenvat credit on water treatment plant    *    CENVAT CREDIT    *    Cenvat Credit - refund - export of services - The registration is not the sole criteria for granting refund, so long the other conditions are satisfied, refund shall be granted - Tri    *    CENVAT credit – demo cars – capital goods – input – nothing is demonstrated today that a demo car falls in any of the Chapters dealing with capital goods - credit cannot be allowed - Tri    *    Period of limitation - in case duty was required to be paid on the strips, the appellant was entitled to avail credit of duty paid on the granules, which would have neutralized the entire demand on the strips - in this Revenue neutrally background, there could be no malafide on the part of the appellant to evade duty - Tri    *    Validity of statutory provisions - Imposition of penalty on company and directors - he legislature while in view of such situation has granted discretion to the executive, at the same time, provided for sufficient guidelines and safeguards so that such discretion does not convert into arbitrary or discretionary exercise of powers - HC    *    Strengthening Our Debt Markets (Dr. Raghuram G. Rajan, Governor - August 26, 2016 - at Annual Day Address to Foreign Exchange Dealers Association of India, Mumbai)    *    Violation of Clause 49 of the Listing Agreement - whole Time Director chaired the Audit Committee Meeting - levy of penalty of ₹ 5 lac cannot be said to unreasonable or excessive - SAT    *    Tribunal was right in confirming the set-off of MAT Credit under Section 115JAA brought forward from earlier years against tax on total income including surcharge and education cess instead of adjusting the same from tax on total income before charging such surcharge and education cess - HC    *    TDS liability - period of limitation - It is true that the Court cannot legislate the Act, however, the Assessing Officer also cannot be given unfettered powers, which he can exercise even beyond the reasonable period of four years. - HC    *    Waiver or reduction of interest - Application u/s 220(2A) - It has also to be verified whether the default in payment of the amount was due to the circumstances beyond the control of the assessee and the assessee has cooperated with the enquiry. - CIT to reconsider the matter - HC    *    Merchandise Exports from India Scheme (MEIS) - Addition in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B    *    Depreciation (while claiming deduction u/s.80IA) is optional to the assessee and that once the assessee chooses not to claim it, the AO cannot allow while computing the income. - HC    *    Streamlining the process of No Objection Certificate (NOC), Port Clearance Certificate (PCC), voyage return and voyage assessment in the case of Foreign Shipping Companies (FSCs)    *    TCS - scrap generated from the mechanical working of the material (breaking of the ship) - The assessee is duty bound to collect the TCS from the buyers in terms of Section 206C of the Act.- Tri    *    Taxability of capital gains - even though the assessee is shown as the co-owner of the said property, the source of funds for investment in purchase of the said property is by the assessee’s husband - taxable in the hands of husband not the assessee - Tri    *    Audit by department: Justified or not?    *    Regarding cenvat credit on service tax on rent a cab
 
Discussions Forum
Home Forum Income Tax
← Previous Next →

Mistake - Tds deposited in wrong tan - Income Tax

#1 Issue Id: - 1204
Dated: 22-5-2009
By:- ARUN SAINI
Mistake - Tds deposited in wrong tan

  • Forum

TDS deducted by one company (Company A) has been deposited in the name of other Company under the TAN number of that other Company (Company B). Following are the facts leading to this mistake: 1.That Company A is a Private Limited Company working in India. 2.That is a Liaison office in India(Company B).3.For the month of March 2009, (Company A) deducted TDS and accordingly issued cheques in favor of RBI for deposit thereof. 4.Inadvertently, the cheques so issued in favor of RBI towards tax deducted by Company A have been deposited on the challan made in the name of Company B on their TAN no. Company A during the course of time would need to issue TDS certificates in the name of deductees. The other impact of this mistake is that the credit would appear in different TAN no whereas there seemingly will be default in the name of actual deductee. Under the circumstances please advice right course of action to correct this mistake and oblige.

Post Reply

Posts / Replies

 

#2 Dated: 22-5-2009
By:- Rama Krishana
This is not a mistake but a blunder. How can this type of problem arise, where both the units are independent (kindly see your stand before the department). There is no provision in income tax to adjust TDS or to share TDS by two companies as deductor. Yes, if you can adjust the same with TDS liability, you should. Otherwise, claim the refund. This type of mistakes would be solved once the new system of TDS / TCS become effective.
#3 Dated: 1-8-2013
By:- Pravin Yogi

assdvff


#4 Dated: 1-8-2014
By:- sanjeev daga

TDS deposited in different name and tan no. How can i rectify it.

sanjeev daga


Post Reply



 

← Previous Next →
what is new what is new

Advanced Search

Latest Updates

Forum

Featured

Experts

More Options

Communication




|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map || ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version