Tds
This query is : Resolved
Manoj Deka
(Querist)
30 May 2012
Dear Sirs,
Whereas total turnover for the F,Y.2008 - 09 was Rs. 16,64,972/= but due to non receipt of TDS certificate for Rs. 10,000/= (Against a contract work for Rs. 5,00,000.) my friend submitted and claimed return of Rs. 26,489.00 showing total turnover of Rs. 11,13,415 instead of 16,64,972/= actual refund should have claimed for Rs. 27,489/= against actual turnover now the A.O. has furnished notice U/s 271(1)(c) of IT. As the amount Rs.16,64,972 including the 5,00,000/= was received from Govt. bills so evade of tax was not possible nor my friend motive, of course the lapses for turnover for Rs. 5 lakh are there for not receiving the TDS certificate till date. but income @ 8% don’t accede the 1.5 L limit of income for the F.Y 2008 - 09 so if any learned member can guide us or if there are any judgement in this type of cases are available! Please help out.
Thanking you
Whereas total turnover for the F,Y.2008 - 09 was Rs. 16,64,972/= but due to non receipt of TDS certificate for Rs. 10,000/= (Against a contract work for Rs. 5,00,000.) my friend submitted and claimed return of Rs. 26,489.00 showing total turnover of Rs. 11,13,415 instead of 16,64,972/= actual refund should have claimed for Rs. 27,489/= against actual turnover now the A.O. has furnished notice U/s 271(1)(c) of IT. As the amount Rs.16,64,972 including the 5,00,000/= was received from Govt. bills so evade of tax was not possible nor my friend motive, of course the lapses for turnover for Rs. 5 lakh are there for not receiving the TDS certificate till date. but income @ 8% don’t accede the 1.5 L limit of income for the F.Y 2008 - 09 so if any learned member can guide us or if there are any judgement in this type of cases are available! Please help out.
Thanking you
Soumitra Basu
(Expert)
31 May 2012
It is your mistake that you have computed the Turnover only on the basis of TDS Certificate. You did not consider the Bank Statement and Payment Certificate from Government.
However, in reply to notice issued by the Assessing Officer, you should mention:-
The receipt was inadvertently disclosed by Rs. 5.00 Lacs for the reason that no TDS Certificate was received.
The TDS has not also been claimed in absence of certificate in Form No. 16A.
Since the assessee's turnover is within the presumptive section 44AD, had the impugned turnover included with the disclosed turnover the total income would have been far less than the maximum amount chargeable to tax.
The interest of the Revenue has not been prejudiced but the interest of the assessee was prejudiced for non receiving the TDS certificate in due time and not getting the refund which is due to him in accordance with the law.
Since inclusion of the impugned turnover also cannot take the assessee within the mischief of payment of tax, the question of tax sought to be avoided can not arise at all. Therefore no penalty is possible.
However, in reply to notice issued by the Assessing Officer, you should mention:-
The receipt was inadvertently disclosed by Rs. 5.00 Lacs for the reason that no TDS Certificate was received.
The TDS has not also been claimed in absence of certificate in Form No. 16A.
Since the assessee's turnover is within the presumptive section 44AD, had the impugned turnover included with the disclosed turnover the total income would have been far less than the maximum amount chargeable to tax.
The interest of the Revenue has not been prejudiced but the interest of the assessee was prejudiced for non receiving the TDS certificate in due time and not getting the refund which is due to him in accordance with the law.
Since inclusion of the impugned turnover also cannot take the assessee within the mischief of payment of tax, the question of tax sought to be avoided can not arise at all. Therefore no penalty is possible.
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Manoj Deka
(Querist)
31 May 2012
To Sumitra Basu
Expart,
Respected Sir,
We thank you for your valuable suggestion.
Expart,
Respected Sir,
We thank you for your valuable suggestion.
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