Demand by ITO (TDS) for shortfall in tds deduction
This query is : Resolved
18 March 2008
Whether demand can be raised by ITO (TDS) for non deduction / shortfall in deduction of TDS by an assessee?
If so, whether any time limit exists for raising such demand. How far back he can go? For example, can he raise demand in 2008 for default in deduction of TDS in FY 2003-04? [The problem is that the payee can not claim credit for such belated deduction of tds (even on the basis of form 16A), if the filing of revised return is time barred or disabled (owing to non filing of original return in time), even assuming that this otherwise provides a valid ground for filing a revised return]
Will this not amount to double payment of tax, if the payee had made good the shortfall by himself paying the advance tax?
If so, whether any time limit exists for raising such demand. How far back he can go? For example, can he raise demand in 2008 for default in deduction of TDS in FY 2003-04? [The problem is that the payee can not claim credit for such belated deduction of tds (even on the basis of form 16A), if the filing of revised return is time barred or disabled (owing to non filing of original return in time), even assuming that this otherwise provides a valid ground for filing a revised return]
Will this not amount to double payment of tax, if the payee had made good the shortfall by himself paying the advance tax?
18 March 2008
The tax which the payer has not deducted is ultimately collected from the payee. Hence, the demand raised for non deduction/short deduction is harsh on the payer.
In my opinion, Law provides only for collection of Int & Penalty for non-compliance of TDS provisions
In my opinion, Law provides only for collection of Int & Penalty for non-compliance of TDS provisions
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Bogus purchase treatment for it act gst dealer
- Gst input for FY 23-24
- Company registration : Rental agreement or NOC?
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
