Tax Deduction at Source non-compliance risks interest, penalties and prosecution; banks urged to ensure accurate withholding and valuation. The instruction emphasises Tax Deduction at Source (TDS) under Chapter XVIIB, identifies recurring non-compliance by some banks-short deductions and incorrect perquisite valuation-and warns that such lapses attract interest, penalties and prosecution; it directs responsible officers to ensure scrupulous compliance and to approach the local tax authorities for clarification or assistance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax Deduction at Source non-compliance risks interest, penalties and prosecution; banks urged to ensure accurate withholding and valuation.
The instruction emphasises Tax Deduction at Source (TDS) under Chapter XVIIB, identifies recurring non-compliance by some banks-short deductions and incorrect perquisite valuation-and warns that such lapses attract interest, penalties and prosecution; it directs responsible officers to ensure scrupulous compliance and to approach the local tax authorities for clarification or assistance.
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