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Jul 12, 2021 · As per section 40(a)(i) of the Income-tax Act, any sum (other than salary) payable outside India or to a non-resident, which is chargeable to tax in India in the hands of the recipient, shall not be allowed to be deducted if it is paid without deduction of tax at source or if tax is deducted but is not deposited with the Central Government till ...
Dec 26, 2011 · In section 201 of the Income-tax Act, for sub-section (1A), the following sub-section shall be substituted with effect from the 1st day of July, 2010, namely: (1A) Without prejudice to the provisions of sub-section (1), if any such p.
Jun 23, 2020 · The brief facts of the case are that the assessee has deducted Income-tax at source under Chapter XVII-B of the Income-tax Act, 1961 (hereinafter called “ the Act”) which was deposited late by the assessee to the credit of Central Government which led to raising of further demand towards interest of Rs.4,19,090/- for late deposit of TDS by ...
Section 201 (1A) in The Income Tax Act, 1961. (1A) Without prejudice to the provisions of sub-section (1), if any such person, principal officer or company as is referred to in that sub-section does not deduct the whole or any part of the tax or after deducting fails to pay the tax as required by or under this Act, he or it shall be liable to ...
Sep 5, 2021 · Sec. 201 (1A) of the Income-tax Act mandates Assessee to pay simple interest @ 1%/1.5% per month or part of the month in case if there is failure to deduct tax or delay in remittance of TDS amount deducted, to the Central Government.
As per Section 201(1A) of the Income-tax Act, 1961 (the Act) if any person, including principal officer or company, does not deduct, the whole or any part of the tax, or after deducting fails to pay the tax as required by or under the Act, then, such person shall be liable to pay interest.
Aug 1, 2020 · Section 201 of the Income-tax Act, 1961 imposes strict consequences upon the payer of a sum for failure to deduct tax at source and/ or for failing to deposit the TDS with the Government. CA Manoj Kumar Mittal has explained the provision in the form of a FAQ.
