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
News Headlines »
 How to fill salary details in ITR-1 for FY 2018-19
 Step-by-step process to file income tax return online ITR filing FY19
  Order under section 119 of the Income-tax Act, 1961
  Things to keep in mind while filing ITR
 Here's how the new Form 16 will change income tax return filing this year
 Things you must keep in mind while filing income tax returns this year
 Five tax saving investments with tax-free income Double income tax benefits in 2019
 Companies (Incorporation) Fifth Amendment Rules, 2019
 Filing Income Tax Return? Here is list of important documents
 Who should and should not file ITR form 4 Income Tax Return (ITR) filing
 Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2019

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 2019 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