If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax to the credit of the Central Government within the prescribed time, he shall be liable to action in accordance with the provisions of section 201…
If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax to the credit of the Central Government within the prescribed time, he shall be liable to action in accordance with the provisions of section 201…
Employers failing to pay the Government the tax deducted at source (TDS) on salaries of their employees can be jailed for up to seven years, the CBDT has said. Failure to deduct income tax on salaries of employees or defaulting in payment of the same to the government will be liable to a penalty of…
As per the records of the Centralized Processing Cell (TDS), there exist outstanding Defaults in “all six preceeding Quarters” with respect to the TDS Statements filed by deductors, relevant to the Financial Years 2013-14 and 2014-15. CPC (TDS) has issued a communication to deductors in this regards which has been given below: Dear Deductor,(TAN: XXXXXXXXXXXX)…
CPC (TDS) has observed from its records that there are outstanding Short Payment Defaults with respect to TDS Statements filed by deductors. The Short Payment Defaults are due to “Insufficient Challans”. CPC (TDS) has released a follow up communication to deductors in this regard which has been given below: Dear Deductor, (TAN: XXXXXXXXXXXX) As per…
The Centralized Processing Cell (TDS), in its endeavour to enforce TDS Compliance, is shortly mandating closure of Short Payment defaults in the quarterly TDS statements due to Unmatched Challans, before the Conso files can be downloaded from TRACES for the relevant statements. Following are key information to be noted in this regard: CPC(TDS) mandates to…
Tax deductors who default in depositing TDS by due date shall be liable for prosecution: CBDT Central Board of Direct Taxes (CBDT) issued a press release in which CBDT said that tax deductors who deduct TDS but does not deposit the same into the Government Account within the stipulated time period are liable for prosecution…