Income tax penalty u/s 271c
WebApr 12, 2024 · Supreme Court Held. The Supreme Court held that section 271C (1) (a) is applicable in case of a failure on the part of the assessee to “deduct” the whole or any part of the tax as required under the provisions of the Act. The words used in Section 271C (1) (a) are very clear, and the relevant words used are “fails to deduct.”. WebNote : No penalty is imposable for any failure under sections 271 (1) ( b), 271A, 271AA, 271B, 271BA, 271BB, 271C, 271CA, 271D, 271E, 271F, 271FA, 271FAB , 271FB, 271G, 271GA , 271GB , 271H, 271-I , 272A (1) ( c) or ( d ), 272A (2), 272AA (1), 272B, 272BB (1), 272BB (1A), 272BBB (1), 273 (1) (b), 273 (2) (b) and 273 (2) (c) if the person or …
Income tax penalty u/s 271c
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WebSection 271C (1): (a) deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B; or. (b) pay the whole or any part of the tax as required by or … WebApr 15, 2024 · The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of the tax deducted at source …
WebOct 16, 2015 · CIT that, penalty U/s 271C is exigible if delay in remittance of TDS is caused due to unreasonable cause. Brief Facts of the Case: The assessee has delayed in … WebFeb 9, 2024 · Our view is fully supported from the judgment of the Hon’ble Supreme Court in the case of Commissioner of income tax vs. Bank of Nova Scotia, 380 ITR 550, wherein …
WebJun 30, 2016 · “Issue penalty notice u/s 221 and 271C and 272A (2) (c) & 272A (2) (k) of I.T. Act, 1961 are being issued separately for each & every such default for all the years involved.” Thus, the Assessing Officer, during the course of passing of order u/s 201 (1) & 201 (1A), directed for issue of penalty notice u/s 271C. WebApr 15, 2024 · The Supreme Court has ruled that no penalty is leviable under Section 271C of the Income Tax Act, 1961 on mere delay in remittance of the tax deducted at source (TDS) after the same has been deducted by the assessee. The bench of Justices M.R. Shah and C.T. Ravikumar observed that the relevant words used in Section
WebApr 12, 2024 · On 09.10.2003, the Additional Commissioner of Income Tax issued a show cause notice proposing to levy a penalty under Section 271C of the amount equal to TDS. The High Court vide impugned judgment and order has dismissed the appeal preferred by the assessee by holding that failure to deduct/remit the TDS would attract a penalty under …
WebApr 13, 2024 · The Supreme Court in this case was considering whether the appellant was liable for penalty u/s 271C even though there was mere delay in payment as the … fortnite can you buy old skinsWebIncome Tax Penalty u/s 271C - failure on the part of the assessee to deduct tax at source - without declaring the assessee as assessee in default under section 201(1) no penalty … dining cushions outdoorWebNov 11, 2014 · However, the AO did not find merit in the submissions of the assessee and levied penalty U/S 271C of the Act vide order dt. 18th Aug., 2010. Being aggrieved, the … dining customs in the usa专四听力音频WebApr 12, 2024 · The Supreme Court (SC) of India has held that mere belated TDS remittance won’t attract a penalty under section 271C of the Income Tax Act, 1961. M/s US Technologies, the appellant challenged the impugned judgment(s) and order(s) passed by the High Court of Kerala at Ernakulam in confirming the levy of interest/penalty under … fortnite caped crusader pacWebApr 12, 2024 · On 09.10.2003, the Additional Commissioner of Income Tax issued a show cause notice proposing to levy a penalty under Section 271C of the amount equal to TDS. … fortnite can you gift skinsWebApr 11, 2013 · Section 271C. If any person fails to deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B then, such person shall be liable to pay, by way of penalty, a sum equal to the amount of tax which such person failed to deduct or pay as aforesaid.This penalty is imposable by Joint Commissioner. fortnite captain america shieldWebProvided  that no penalty shall be levied in respect of income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D to the extent such … fortnite captain rex skin