sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 What is tax deducted at source (TDS)?
 Income Tax Return filing 2018: Here are some important tips for you
 Change in Examination Venue in Thane, Zone – II, May 2018 Examinations
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling

Failure to remit tax will invite prosecution: IT dept
January, 16th 2009

Noticing instances of non-remittance of Tax Deducted at Source (TDS), the Income Tax department on Thursday said that any failure to
remit the tax would attract serious consequences including prosecution.

The stipulated dates in respect of tax deducted to be remitted to central government were - "if deduction is by or on behalf of government, it should be paid on the same day. If it is credited/ paid during a month, the last date is before 7th of the following month and if it is credited on March 31 - the tax should be remitted within two months i.e. May 31".

The IT department said it was also stepping up TDS inspections to check compliance with TDS provisions and take stringent action against defaulters. According to an official release here, it has come to the notice that a large number of assessees have filed and were filing returns of income without payment of self assessment tax.

For this failure, the assessee would be deemed to be an assessee in default in respect of the unpaid tax or interest or both which is liable for penalty. The defaulting asseessees should immediately pay the taxes due on the returned income to avoid coercive action by the IT department for recovery, it said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions