[Case] Mr. X has taken Service Tax registration in year 2009. But had neither provided any taxable service nor filed a single return since then (i.e. 2016). How can Mr. X escape from FINES AND PENALTIES and what procedural compliance are to be followed now ? Please help !!

An immovable property is purchased and payment is to be made in installments. First Installment is Paid in Sept 2012. Next Installment is paid in July 2013. Third installment is paid in March 2016. No tax was deducted for first two installments. Tax was deducted in March 16 installment for July 13 and March 16 installment . Tax so deducted was paid on 15th April 2016.

Does Tax needs to be deducted for each installment u/s 194 IA or at time of registry ?

Does Tax needs to be deducted even for first installment of Sept.2012 as the section comes into effect in June 13?

Interest u/s 201 is to be paid from date of deduction or date of payment of installment and at what rate ?

Late filing fees u/s 234E is to be paid from date of TDS payable to central Govt account i.e. 7th April 2016 or date of payment of installment?

Resp. Sir,

Can TDS to be deducted in following cases:

1. Aggregate Transaction in a Finance Year not Crossing Rs. 75000 but Transporter
owns more than 10 Vehicles.

2. Aggregate Transaction in a Finance Year Crossed Rs. 75000 but Transporter owns Less
than 10 Vehicles (NOT GIVEN DECELERATION ON HIS LETTER HEAD STATING
THAT HE OWNS LESS THAN 10 VEHICLES & NOT TO DEDUCT TDS U/S 194C)

Please advise.

Thanking you.
Regards

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we having partnership Firm, sign MOU of Non­Agriculture Land of Rs 2,00,00,000/­ on 19th August,2015. And Paid Amount of Rs 1,80,00,000/­ as
advance on 19th August,2015 and remaining will be paid at time of final sale deed. Apart from this e deduct TDS on 29th March, 2016 on 1,80,00,000
as 1% So TDS amount Rs. 180000 and interest of rs 21600 Total Tax Payment 2,01,600/­.
My Question
1) What are Accounting Entries required for these transaction.
2) As sale deed not exist only MOU made by Firm, so amount paid in advance will be shown in balance sheet as advance payment or what? As My
firm are in construction business so Land will be as stock or as capital?

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On Traces portal we are showing with a short deduction default. Which is right as per their calculation but the reason for short deduction was due to the advance tax paid by the employee.
Please let me know how to solve this default problem.

SA 265

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