TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 201: Consequences of Not Deducting TDS, Including Interest and Penalties, with Exceptions for Resident Recipients.</h1> Section 201 of the Income Tax Act outlines consequences for failing to deduct or pay Tax Deducted at Source (TDS). If a liable person fails to deduct or pay TDS, they are deemed an 'assessee-in-default,' facing interest and penalties. However, if the resident recipient files a return, accounts for the income, and pays due taxes, the person may not be deemed in default if certified by a chartered accountant. Interest on late TDS deduction or payment is charged monthly. Amendments specify time limits for deeming defaults, except in cases of non-payment after deduction or involving non-residents. Relevant notifications and circulars provide additional guidelines.
TaxTMI 
TaxTMI 
