The CBDT has issued a letter dated 1st June 2015 stating that grievances have been received by the Board from many taxpayers that in their cases the deductor has deducted tax at source from payments made to them in accordance with the provisions of Chapter XVII of the Income-tax Act but has failed to deposit the same into the Government. The CBDT has pointed out that under section 205 of the Act, the assessee shall not be called upon to pay the tax to the extent that tax has been deducted from the income. It has emphasized that the Act puts a bar on direct demand against the assessee in such cases and the demand on account of tax credit mismatch cannot be enforced coercively. The CBDT has asked all assessing officers not to put the assessees to any inconvenience on account of the default of tax info into the Government account by the deductor
Thursday, June 11, 2015
No Coercive Tax Recovery From Payee For TDS Default By Payer: CBDT
The CBDT has issued a letter dated 1st June 2015 stating that grievances have been received by the Board from many taxpayers that in their cases the deductor has deducted tax at source from payments made to them in accordance with the provisions of Chapter XVII of the Income-tax Act but has failed to deposit the same into the Government. The CBDT has pointed out that under section 205 of the Act, the assessee shall not be called upon to pay the tax to the extent that tax has been deducted from the income. It has emphasized that the Act puts a bar on direct demand against the assessee in such cases and the demand on account of tax credit mismatch cannot be enforced coercively. The CBDT has asked all assessing officers not to put the assessees to any inconvenience on account of the default of tax info into the Government account by the deductor
Subscribe to:
Post Comments (Atom)
Recent Landmark GST Judgments: A Comprehensive Overview
The Goods and Services Tax (GST) regime continues to evolve through judicial interpretations. From the Supreme Court to various High Court...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
In a significant development, the Supreme Court has dismissed the Revenue’s Special Leave Petition (SLP) challenging a Bombay High Court (...
-
Sr No Due Date Related to Compliance to be made 1. 11.06.2026 GST ...
-
The introduction of the Goods and Services Tax Appellate Tribunal (GSTAT) has brought significant changes to the pre-deposit framework for...
-
Selling a property can trigger a significant tax liability in the form of capital gains tax. However, the Income-tax Act, 1961, allows you...
-
With the government making Aadhaar Card ( unique identification card ) mandatory in procuring LPG connections, issuing passports, sale or...
-
This is to update you on procedure prescribed by the Office of the Development Commissioner, Karnataka Sub Zone (the “Office”) to be foll...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
MARRIAGE EXPENSES - POWERS OF I.T. AUTHORITIES In the recent past the Income Tax Department has been concentrating on collecting informat...
-
The provision of a corporate guarantee, where one company pledges to cover the financial obligations of another (often a subsidiary or affil...
No comments:
Post a Comment