Income tax penalty u/s 271c

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WebPenalty u/s. 271(1)(c): Initiation, Satisfaction & Levy – The Unwritten Mandates Section 271(1)(c) of the Income-tax Act, 1961 prescribes two faults or omissions which exposes … WebAug 3, 2024 · The plain reading of section 271 (1) (c) of Income Tax act 1961 clearly states as follows “Concealment of particulars of income or fringe benefits or furnishing of …

Penalty order passed U/S 271C for non-deduction of TDS, …

WebIncome Tax - Levy of penalty u/s 271C - delay in deposit of Tax deducted at source (TDS) - Section 271C(1)(a) shall be applicable in case of a failure on the part of ... WebApr 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. inception session

Penalty u/s. 271(1)(C) - CAclubindia

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. WebNov 19, 2015 · Indian Income Tax Act, 1961, mandates that a specified percentage of Tax is required to be deducted by the payer at the time of making certain payments to the payee. … WebApr 11, 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 provisions of Section 271C dealt with penalty for failure to deduct the tax and not delayed payment of tax. ... 271C and 273B of Income-tax Act,1961: Counsel(s): Counsels : Dowload Pdf File ... inability to sweat disease

Tax Management India on Twitter: "Income Tax - Levy of penalty …

Mere belated TDS Remittance won

WebC.Penalty for failure to deduct tax at source u/s 271C Failure to deduct the whole or any part of the tax— • As required under the provisions of Chapter XVIIB, or • As required under section 115 -O(2) or • As per second proviso to section 194B Web1. confirming penalty of Rs.1,81,00,765 u/s. 271C of I. T. Act, 1961. 2. confirming the above penalty on the ground that the eventhough the appellant had claimed that the parties to whom payments were made had paid the taxes whereever applicable in their individual capacity, the appellant had not submitted any documents in support of the same. inability to take deep breath medical termWebFeb 2, 2024 · Applicability of provisions of section 271C of Income Tax Act, 1961. The penalty under section 271C is applicable under the following conditions –. The person fails to deduct, the whole or part of, tax at source (i.e. TDS). The person fails to pay, the whole … inception series

"WebIncome Tax - Penalty u/s 271C - failure on the part of the assessee to... Income 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 under section 271C of the Act can be imposed View Source ← Previous Next → " - Income tax penalty u/s 271c

Income tax penalty u/s 271c

Mrs. Sonal Shah, Mumbai vs Joint Commissioner Of Income Tax …

WebPenalty U/s. 271C Of Income Tax Act Cannot Be Levied For Delay In Remittance Of TDS Already Deducted By Assessee- SC. 11 Apr 2024 11:17:58 WebApr 10, 2024 · On 02.06.2003, Income Tax Officer (ITO) vide order under Section 201(1A) of the Act, 1961 levied penal interest of Rs. 4,97,920/for the period of delay in remittance of TDS. On 09.10.2003, the Additional Commissioner of Income Tax issued a show cause notice proposing to levy penalty under Section 271C of the amount equal to TDS.

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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. …

WebMar 24, 2009 · In fact in the orders passed u/s. 143(3) of the Income Tax Act, they have been mentioning “Initiate Penalty proceedings u/s. 271(1) (C) of the I T Act” by default on additions/disallowances done without providing any reasons irrespective of whether the assessee really tried to conceal his income or furnished inaccurate particulars of his ... 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 …

WebProvided Â 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 … Web1 day ago · The case was selected for scrutiny under CASS and a notice under section 143(2) was served on the assessee on 22.09.2016. The Assessing Officer(AO) passed assessment order u/s.143(3) of the Income Tax Act, 1961. 2.1 The AO has levied penalty u/s.271(1)(c) of the Act. Aggrieved by the penalty order the Assessee had filed appeal …

Web1 day ago · The case was selected for scrutiny under CASS and a notice under section 143(2) was served on the assessee on 22.09.2016. The Assessing Officer(AO) passed …

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 provisions of Section 271C dealt with penalty for failure to deduct the tax and not delayed payment of tax. The court accepting the arguments of the Appellant’s AR that the penal provisions ... inability to sweat means whatWebNov 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 … inability to take actionWebAug 6, 2024 · Show Cause Notice for penalty under section 271 (1) (c) of the Income-tax Act,1961 Ms/Mr/M/s, Faceless Penalty Scheme was launched on 12/01/2024 and henceforth all penalties will be disposed of in a faceless manner similar to Faceless Assessment. 2. inception shahid4uWebMar 16, 2009 · 16 March 2009 Please note that penalty under both these sections can not be imposed at the same time. Difference between both these sections are as below: 1. … inception shadesWebApr 12, 2024 · Even the CBDT has decided to impose no penalty under Section 271C of the Income Tax Act for non-deduction of TDS, and no penalty is contemplated under Section 271C for delayed remittance, payment, or deposit of the TDS. The court stated, asserting the CBDT’s Circular No. 551 dated January 23, 1998. The assessee was not required to pay … inability to take responsibility for actionsWebApr 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 … inception shades costWebNote : 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 … inception setting