If a person fails to deduct the whole or any part of the tax at source or after deducting, fails to pay the whole or any part of the tax to the credit of the Central Government within the prescribed time, he shall be liable to action in accordance with the provisions of S. 201 and shall be deemed… Read More »
If Person fails to submit Income Tax Return (ITR) on or Before end of Assessment Year i.e. within the period of 1 year from the end of financial year for AY 2014-15 last date is 31st March 2015 and for AY 2015-16 Last date will be 31st March 2016 without any penalty, then Income Tax… Read More »
Section 269T explains the provisions relating to the mode of repayment of certain loans and deposits whereas Section 269SS deal with acceptance of Loans & Deposits and section 271E deals with penalty for failure to comply with the provisions. The provision says that no branch of a Co-operative bank, a Banking Company or any Company or… Read More »
Penalty for not Applying for Permanent Account Number (PAN Number) or Penalty for not quoting PAN Number in Financial Transaction or Penalty for not giving PAN Number to Income Tax Department or Penalty for not giving PAN in TDS return or to TDS Deductor or Penalty for double applying for PAN card .i.e already holding… Read More »