Tuesday, April 21, 2015

[aaykarbhavan] Bank couldn’t defer deduction of tax and wait for lower TDS certificate from depositor; held as assessee-in-default



Bank couldn't defer deduction of tax and wait for lower TDS certificate from depositor; held as assessee-in-default

April 21, 2015[2015] 56 taxmann.com 200 (Chandigarh - Trib.)
IT: Bank cannot simply defer deduction of tax at source on interest on deposits and keep on waiting for certificate under section 197 to be obtained by depositor; it is liable to deduct tax as per mandate of section 194A
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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