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The Central Board of Direct Taxes (CBDT) has furnished relief to the assesses who obtained the tax demand notices for the reason that they deducted less TDS compared to the taxpayers whose PAN had become inoperative. Multiple TDS deductors and collectors, TCS respectively, had obtained the income tax demand notices requesting them to deposit the […]
The Kolkata ITAT learning that the taxpayer’s returns have been processed in the Computer Processing Centre held that when the auditors have reported in the audit report that employees’ contributions have been deducted by the taxpayer from the employee’s salaries but not deposited within the deadline furnished under PF&ESI Act, assessee could not avail for […]
The income tax department has issued some salaried assesses messages for their total tax deducted at source (TDS) all across the country. The message was sent as an SMS that consists of information on TDS deducted via the employer for the quarter ending 31st December and the cumulative TDS for the FY 2023-24. The same […]
Often the employees unfortunately reveal that while the tax has been duly deducted at source (TDS) against their salary income, the same does not get deposited by the employer with the government. The Mumbai bench of the Income-Tax Appellate Tribunal (ITAT) decision stressed that the accountability of proof of TDS against the salary income is […]
During remanding the case back for re-adjudication, the Mumbai ITAT stated that the prima facie onus shall be on the taxpayer to verify its claim of non-granting of TDS credit, by furnishing pertinent documents, like an appointment letter, salary slips or Form No.16 or bank statements, or any other corroborative evidence/ documents. The Bench of […]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) held that Section 155(14) of the Income Tax Act, 1961 could not limit the Tax Deduction at Source ( TDS ) credit if the income is correctly shown in the Income-tax Returns. The ITAT bench noted that “once TDS is deducted and deposited […]
Easy to Know Senior Citizenship in India: As per the law, a Senior Citizen in India is defined as any citizen who has reached the age of 60 years or older, a shift from the previous benchmark of 65 years. Different age criteria applied for various purposes, like railway and flight tickets, but now uniformly […]
Once Tax Deducted at Source (TDS) is deducted then liability for non-deposit of TDS by deductor cannot be fastened on the deductee the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) ruled. The taxpayer is a salaried employee employed with M/s. Falcon Tyres Ltd. at its Kolkata office and in the year received a […]
The employer of the applicant or taxpayer who has looses to perform his duty to deposit the deducted tax with the dept could not be penalized, Delhi High Court ruled. The same shall always be open for the revenue to move forward against the applicant’s employer for the recovery of the deducted tax. The bench […]
