Under section 201 1a
Web2 days ago · On completion of proceedings, the learned Assessing Officer passed an order under section 201 (1)/ (1A) of the Act on June 15, 2024, treating the said remittances liable to tax deduction as ‘Royalty payments’ and thereby raising a demand of Rs.4,66,60,846/-. WebSection 201(1A), (3) and (3A) of the Companies Act. GENERAL OBLIGATION ON COMPANY TO PREPARE ACCOUNTS WHICH COMPLY WITH ACCOUNTING STANDARDS AND …
Under section 201 1a
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Web3 May 2024 · There are two cases under section 201(1A) where you become liable to pay simple interest on the unpaid TDS amount: 1. From the date on which the tax was deductible to the date on which the tax is deducted, you will have to pay an interest of one percent on the amount of outstanding tax for every month or part of a month. 2. For late payments ... Web2 days ago · 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 a penalty under Section 271C of the amount equal to TDS.
Web11 Apr 2024 · Therefore, at the most, it was liable to pay the penal interest under Section 201(1A), however, there cannot be any levy of penalty under Section 271C on mere late … Web10 Apr 2024 · As observed hereinabove, the consequences on non-payment/belated remittance of the TDS would be under section 201(1A) and section 276B of the Act, 1961," the bench said.
Web18 Feb 2024 · When the assessing proceeding was conducted by the assessing officer he demanded one crore rupees under section 201(1) Income Tax Act 1961 and interest of seventy eight lakh under section 201(1A) of the Income Tax Act 1961 on account of not withholding tax under section 195 of the Income Tax Act 1961 pertaining to payment … Web20 Oct 2024 · The amount of interest chargeable under section 201(1A) on account of late deduction of tax at source on the entire amount of 90,000 will be: Interest on the entire …
WebProvided further that where an order is made by the Assessing Officer for the default under sub-section (1), the interest shall be paid by the person in accordance with such order. …
WebThe reformed fee structure introduces a new Table of Fees under Schedule 1A, Parts 1 and 2, which moves away from the current hybrid payment model and continues the trend to … lutheran televisionWeb13 Mar 2024 · The default of TDS interest for late deduction is outlined under Section 201A of the Income Tax Act. TDS return filing is only possible after paying this interest. TDS … jcpenney lynchburgWeb1 Dec 2015 · Small company under FRS 102 1A. Medium or large company under full FRS 102. The name of the ultimate controlling party (this may be an entity or an individual).-√ … jcpenney madison beddingWeb12 Jul 2024 · Extract of Section 201 of Income Tax Act, 1961. Consequences of failure to deduct or pay. 201. (1) Where any person, including the principal officer of a company,— … jcpenney lynnwood store hoursWeb26 Dec 2011 · Further the provision of Sec 201 (1A) (ii) reveals that Interest for non depositing the TDS will be paid from the date on which tax was deducted to the date of … jcpenney lynnhaven mall hoursWeb17 May 2024 · The assessee had, in the course of assessment proceedings for the assessment year 1981-82, claimed deduction of Rs. 10,542 which amount had been paid … lutheran television programsWeb17 Sep 2012 · The First Proviso to s. 201 (1) as inserted by the Finance Act 2012 w.e.f. 1.7.2012 provides that any person, including the principal officer of a company, who fails … jcpenney machesney park il