Search Results For: demand notice


QUERY: Number of professionals including C.A., C.S., Architects, Interiors and Business man like brokers are maintaining books on cash basis (receipt basis) and claiming TDS in the year of receipt of income irrespective of the year to which it pertains. Before introduction of e-filing system, such claim of TDS was allowed in the year of receipt of income. This was settled practice. But after e-filing regime, where credit is given on the basis of 26AS, such professionals and brokers are not getting credit of such TDS due to mismatch of the year. On this account many rectification are also pending.

Kindly enlighten how to overcome this problem.
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As clarified by CBDT and prudent accounting practices, you should account TDS in the fees only. Any difference between actual TDS claimed by you and from AS 26 may be informed to the Assessing Officer for corrective action for issuing refund/

QUERY: A demand has been raised on ‘X’ for the short credit in 26AS in respect of TDS deducted by the deductor but not paid to the Government. Whether ‘X’ is liable to pay the demand.
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Section 205 of the Income-tax Act, 1961 provides that in case tax is deductible at source under chapter XVII of the Act, the assessee shall not be called upon to pay the tax himself to the extent of the deduction so made irrespective of the fact whether the tax so deducted has been actually deposited with the Government by the payer.

QUERY: Can the A.O. issue demand notice for the penalty levied by J.C., though the order was passed by Jt. CIT/Dy. CIT.
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Yes, there is no restriction. S. 156 of the Act, clearly provides that when any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under this Act, Assessing Officer shall serve upon the assessee