Need help ! income tax scrutiny
This query is : Resolved
24 June 2014
Hello ! Experts
After Scrutiny Assessment, Our assessee has received demand notice of penalty u/s 271 (1)(C) for Rs.143980.00, ITO dissallowed the Expense Interest on Loan (Unsecured Loan) due to non deduction of TDS u/s 194(A),
If any help or any reply can shorten the Penalty value, then please provide with reference.
Many Many Thanks in advance
Deepak Sharma
deepak_8583 @ yahoo.com
Read more at: https://www.caclubindia.com/forum/help-income-tax-scrutiny-295652.asp#.U6kpdpSSwZM
After Scrutiny Assessment, Our assessee has received demand notice of penalty u/s 271 (1)(C) for Rs.143980.00, ITO dissallowed the Expense Interest on Loan (Unsecured Loan) due to non deduction of TDS u/s 194(A),
If any help or any reply can shorten the Penalty value, then please provide with reference.
Many Many Thanks in advance
Deepak Sharma
deepak_8583 @ yahoo.com
Read more at: https://www.caclubindia.com/forum/help-income-tax-scrutiny-295652.asp#.U6kpdpSSwZM
24 June 2014
it is disallow the intt. if deposit the same before filing the return then you can claim otherwise you have to pay the demand.
24 June 2014
No other way to get some relief in Penalty Amount.
No other way to get some relief in Penalty Amount.
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