Tag: interest u/s 201(1A)

CBDT further clarifies circular on waiver of interest on account of failure to collect or pay the collected tax to the credit of the Central Government by the collector.  F. No. 275/92/2024-IT (B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes Circular No. 8/2025 Subject: Clarification …

CBDT waives interest for late deposit of TDS/TCS due to technical glitches where payment was debited from bank account on or before due date. CBDT has passed order under section 119 of the Income-tax Act, 1961 for waiver on levy of interest for late deposit of TDS/TCS under …

TDS not required on year end provisions created which were reversed in next year – ITAT In a recent judgment, ITAT Delhi has held that no TDS was required on provisions created on year end as per accrual basis of accounting and reversed in subsequent assessment year and …

In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit of TDS – ITAT In a recent judgment, ITAT has held that in absence of mala fide intention bank should not be treated as assessee in default for …

TDS deposited electronically within due time date shown on OLTAS irrelevant. There is no provision of waiver of interest for late deposit of TDS ABCAUS Case Law Citation:ABCAUS 3239 (2020) (01) ITAT Important case law relied upon by the parties:In the instant case, an appeal was filed by …