$type=Ticker$count=6

Search This Blog

Central Board of Direct Taxes (CBDT) clarifies regarding issue of Prosecution Notices

The Central Board of Direct Taxes (CBDT) has stated that certain news items that appeared in a section of media regarding enmasse issue of prosecution notices to small companies for TDS default are completely misleading and full of factual inaccuracies. CBDT clarified that Mumbai Income Tax TDS office has issued prosecution Show Cause Notices only in a limited number of big cases where more than Rs. 5 lakh of tax was collected as TDS from employees etc and yet the same was not deposited with the Income Tax Department in time.

Press Information Bureau 
Government of India
Ministry of Finance
21-January-2019 12:13 IST
Central Board of Direct Taxes (CBDT) clarifies regarding issue of Prosecution Notices 

The Central Board of Direct Taxes (CBDT) has stated that certain news items that appeared in a section of media regarding enmasse issue of prosecution notices to small companies for TDS default are completely misleading and full of factual inaccuracies. CBDT clarified that Mumbai Income Tax TDS office has issued prosecution Show Cause Notices only in a limited number of big cases where more than Rs. 5 lakh of tax was collected as TDS from employees etc and yet the same was not deposited with the Income Tax Department in time.
Central+Board+of+Direct+Taxes
CBDT said that some defaulter companies and vested interests are deliberately misleading the media to thwart action against themselves. Having deducted tax from employees and other taxpayers and not depositing the same in time in the Government Treasury is an offence punishable under the law. It also affects the interest of the employees from whose salary the tax has been deducted by the unscrupulous employers who have not deposited the same in time in the Government Treasury. If the TDS is not deposited in time, the employee would be ineligible for claiming credit of the tax deducted when he files his own return.

CBDT stated that in last one month, only in 50 big cases prosecution notices have been issued by Mumbai IT TDS office. Out of these, in 80% of the cases the TDS tax default is above Rs. 10 lakh and in 10 % cases, TDS default is between Rs. 5 to Rs.10 lakh. In the remaining 10% cases, TDS default is of more than Rs. 1 crore as detected in the survey. Prosecutions have also recently been launched against 4 big business houses where more than Rs 50 Crore of tax was collected by them from the tax payers and yet not deposited with the Government in time. But such legal and rightful action is being unfortunately projected in the media by the vested interests as if the Department is going overboard to harass small employers. 

It would be pertinent to note that in a country of 130 Crore people where around 6 Crore returns are filed every year, only a total of 1400 prosecutions have been filed so far for various offences under the Income Tax Act during this financial year. This, by any stretch of imagination, cannot be termed as mass harassment by the income tax department. Therefore, to say that prosecution notices enmasse have been sent to taxpayers for minor defaults is completely incorrect and misleading, the CBDT added.
****

COMMENTS

Name

Aadhaar Cards,28,aap,1,account,3,act,3,admit card,1,agenda,1,agreement,1,Agriculture,131,AIIMS,8,Air,9,Air Force,14,airport,5,Allowance,9,amendment,19,amrut,1,Anganwadi,1,Animal,5,Anniversary,10,antartica,1,App,19,appointment,5,Army,12,Article,2,arunima sinha,1,ASEM SUMMIT 2018,1,Assembly,4,Atal,3,Atal Bhujal,3,ATM,2,atmanirbhar,14,Atomic,1,Auto,2,Awaas,87,Awards,45,Ayurveda,19,Ayushman Bharat.Jan Arogya,11,Azad Hind,1,Balika,5,band,2,Bank,41,Bankruptcy,1,BCCL,2,Berojgari Bhatta.,4,beti,2,Bihar,23,Bima,15,Biography,1,Biomedical,1,Biotechnology,2,Blue,2,Board,22,boder,4,bond,5,Bonus,3,BRICS,2,Bsnl,4,Budget,14,Building,7,Business,144,Cabinet,4,Cable Car,1,cadets,1,cancer,4,Capital,5,Capital.Index,3,Car,2,Card,56,cargo,1,Cases,6,CBI,1,cbse,17,CCL,2,CDS,1,centre,7,CERTIFICATE,12,CGHS,3,channels,1,Child,67,Child Sexual Abuse,2,Children,12,CIMAP,1,Cities,11,Citizen,7,City Gas Distribution,4,clearance,3,Coal,15,College,35,Commerce,36,Commission,48,Compani,6,Conclave,1,Condolence,2,Conference,6,Consumer Price,15,cooperation,2,Corona,262,country,4,Court,13,credit,1,Crude Oil,19,CTET,2,Culture,35,Currencies,5,Customs,1,Cyber,4,Cyclone,12,Dam,1,Dearness,4,debt,2,defence,48,Definition,1,Delhi,62,development,63,Develpment,88,Diamond,1,Digital India,18,Direct,3,disable,2,Disaster,6,Divyangjans,5,Diwali,2,Domicile,3,doordarshan,1,Driving,6,Drug,3,Drug trafficking,1,e-Office,3,e-Vidhan,3,Earth,4,echs,1,Education,161,elec,1,Election,51,Electoral,6,Electrification,15,Emergency,2,Employment,79,Energy,10,enterprises.farmer,3,entrepreneur,5,Environment,32,EPFO,24,ESEM SUMMIT,1,EVM,1,EXAM,48,Exhibition,3,Export,11,extraction,1,Fabric,1,Family,32,Fani,4,Fare.Scheme,1,Farmers,64,Fasal,6,FAU-G,1,fdi,1,Fertilizers,17,Festival,16,Filing,1,Film Festival,3,Finance,74,Fish,5,Fit India,3,Food,29,force,8,forest,21,freedom.Fighters,2,G-20 Meeting,1,G-20 Summit,2,Gaja,2,Games,8,Gandhi,4,garib,3,GDP,4,General,5,Girls,23,Global,5,Goa,2,Gold,3,Gold Bond Scheme,6,gove,1,Government,197,Gram Panchayats,8,Gramin,17,Green,9,ground,2,GSAT,1,GSAT11,1,GSLV,1,GST,26,GSTR,2,guidelines,10,guinessbook,2,Hackathon,1,haj,3,Happy,5,Harassment,2,Haryana,12,Hassle,1,Hausla,1,Health,109,helmet,1,Holi,1,homage,1,Homoeopathy,11,Hospital,21,Hostels,5,Housing,139,HRA,1,Human,42,ID,1,IFFI,1,IISF,1,import,10,Incom Tax,32,income,11,Index,25,India,81,India-China,4,industry,41,information,12,Infrastructure,12,Insolvency,1,Institution,13,insurance,1,interest rates,3,internal,1,Internet,5,Internship,2,investment,2,ISRO,10,Issue Price,4,IT,2,J&K,8,JanDhan,5,Jawaharlal,5,jeddah,1,JEE,4,Jeevan Shakti,5,jharkhand,20,Jio,2,JOB,142,Khelo,4,Kheol,6,kisan,92,koushal Yuva,3,KPCS,1,kumbhmela,18,kvic,1,KVS,21,Language,2,Laptop,4,Law and Justice,3,Legislative,3,Licence,4,Livelihood,1,livestock,1,loan,34,Location,2,lockdown,80,Lok,32,LPG Gas,7,LTC,1,Maan Ki Baat,5,Mahila-E-Haat,1,Main Nahin Hum,2,Make in India,7,Man-Dhan,7,management,5,Manrega,8,Mantri,263,Marger,1,Market,9,MARRIAGE,12,martyrs,1,MAT,1,Mata Vaishno Devi,1,Maternity,1,Measurement,1,media,3,Medicine,34,Meeting,4,Memorial,6,Metro,16,mid day,1,Minister,11,minorities,1,Mission,44,Mobile,23,money,4,Monsoon,1,Movie,1,mp,5,Mtnl,2,Mudra,8,Mukhyamantri,54,municipal,1,Museum,8,Nabard,2,NAE,2,Namami Gange,23,Nation,10,National,82,National Highways,68,National Project,22,Nationhood,1,Natural,2,Natural Gas,34,Naval,9,Navodaya Vidyalaya.,1,NCC,1,NCERT,3,NCR,3,NDA,2,Nehru,4,Net Project,3,Netaji Subash Chandra Bose,3,New,15,New Airport,4,News,13,NIRVIK,1,Niti Aayog,35,NMCG,1,NNC,1,Nominations,1,Northeast,18,not,1,Notification,146,NPS,7,NuGen,1,Nursing,3,Nutrition,3,OBC,3,ODF,1,odisha,6,Online,74,Operation Green,1,Organic,2,Orphanages,1,Padma,2,Paisa,1,pakistan,3,Pal,2,Pan Card,3,Park,4,Parliament,7,parliament attack,1,Passport,5,Patel,3,patna,1,Payment,5,pcs,1,Pension,46,Petroleum,13,pho,1,Physical,1,pm,27,PMAY,2,Police,10,Policy,15,Pollution,13,Port,6,Portal,25,Poshan,9,post office,5,poverty,3,Power,35,Powergrid,4,Pradhan,263,prasarbharti,1,pregnant,1,President,9,prime minister,9,Prisoners.,1,private,3,Prizes,3,Professionals,3,promotion,1,PSLV,3,public,1,Puruskar,2,Qaumi Ekta,1,radio,1,Rail,20,Railway,146,Rainfall,1,Rajasthan,12,Rajbhasha,2,Ration,43,RBI,8,Real Estate,1,Recruitment,86,Red Fort,4,Refinery,12,reform,1,releases,1,Repo Rate,2,reproduction,1,Reserved,10,Resources,38,Result,41,retire,7,Return,5,review,1,Revolution,2,Right,1,Ring Road,3,river,15,Road,67,Ropeway,1,RRB,5,RRCB,4,RTI,2,Run for Unity,3,Rural,43,Sabha,33,salary,5,Sampann,3,Samridhi,4,Sanskrit,1,Satellite,4,Saubhagya,1,Saving,3,Scheme,670,Scholarships,26,School,81,Scientist,3,sector,4,security,4,Seminar,1,Senior,4,Service,18,Session,2,Sexual,1,Share,3,shramik Card,2,SIAL,1,Skill Develpment,31,Smart,20,Smuggling,1,Snowfall,1,social,1,soil,2,Solar,23,soldier,1,son,1,space,5,Sports,25,SSC,15,Sstellite,1,Staff.,4,Staff.Safety,1,Startup,5,Startup India,7,state,4,Statistics Day,1,Steel,12,stocks,8,Strike,1,Student,32,Sukanya Samriddhi Yojana,5,summit,6,supreme,2,Surgical,1,Swachh Bharat,36,Swadesh Darshan,14,Swadhar Greh,2,Swamitva,2,Swaraj,1,System,9,Tabacco,2,TAX,49,Teacher,8,technology,8,Telecom,13,Terrorism,6,Textile,7,Ticket,11,tiger,1,Tourism,56,Tracking,1,Trading,2,Trafficking,1,Train,59,Training,16,Transgenders,1,Transport,81,travel,7,Tribal,9,tricolour,1,trust,4,UGC,1,Ujjwala,12,Unity,3,University,11,unlock,10,Unreserved,2,UPSC,23,Urban,43,UTS,3,uttar Pradesh,27,Uttarakhand,9,Vaccine,1,Vehicle,12,Village,8,Village Cleanliness,2,virus,240,Visa,5,Voting,5,Wages,4,waste,3,water,26,Water Resources,32,WCO,1,Weather,1,Website,3,West Bengal,4,wifi,1,Wildlife,3,Winter,1,Women,116,workshop,6,Year,3,Yoga,13,Yojana,299,youth,25,Youth Parliament,1,आग दुर्घटना,1,जी-20 देशों की बैठक,1,नेट परियोजना,1,पुलिस,1,प्रत्यक्ष कर,1,बाल यौन शोषण,1,वर्षगांठ,1,वायु सेना,1,स्मारक,1,
ltr
item
Indian Govt Scheme - Sarkari Yojna - सरकारी योजना: Central Board of Direct Taxes (CBDT) clarifies regarding issue of Prosecution Notices
Central Board of Direct Taxes (CBDT) clarifies regarding issue of Prosecution Notices
The Central Board of Direct Taxes (CBDT) has stated that certain news items that appeared in a section of media regarding enmasse issue of prosecution notices to small companies for TDS default are completely misleading and full of factual inaccuracies. CBDT clarified that Mumbai Income Tax TDS office has issued prosecution Show Cause Notices only in a limited number of big cases where more than Rs. 5 lakh of tax was collected as TDS from employees etc and yet the same was not deposited with the Income Tax Department in time.
https://1.bp.blogspot.com/-is1kWIHSYls/XEVyaG9MC8I/AAAAAAAAB40/KiJ9eXYwywkt8PsOCHABF7F6xSiH8MBiQCLcBGAs/s640/cbdt.png
https://1.bp.blogspot.com/-is1kWIHSYls/XEVyaG9MC8I/AAAAAAAAB40/KiJ9eXYwywkt8PsOCHABF7F6xSiH8MBiQCLcBGAs/s72-c/cbdt.png
Indian Govt Scheme - Sarkari Yojna - सरकारी योजना
https://www.indiangovtscheme.com/2019/01/central-board-of-direct-taxes-cbdt.html
https://www.indiangovtscheme.com/
https://www.indiangovtscheme.com/
https://www.indiangovtscheme.com/2019/01/central-board-of-direct-taxes-cbdt.html
true
7302066951545768297
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content