Tds default us 276b

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ankur jain

ankur jain (Querist)
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21 December 2013 For what amount there is prosecution under Tds refer the case law if any???

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 December 2013 276B is not amount specific or period. earlier there was a minimum criterion of invoking 276B if the delay of depositing was more than 12 months but it has been dispensed with and It is now clarified that defaulters, who have retained the TDS deducted and failed to deposit the same in government account within due date, shall be liable for prosecution, irrespective of the period of retention.

Prosecution can happen even if the amount is low/less. Refer Madhumilan Syntex Ltd. & Ors. Vs. Union of India & Anr. (2007) 208 CTR (SC) 417: (2007) 290 ITR 199 (SC).

However, you may refer to CBDT has issued instruction no. 1335 of CBDT, dated 28-5-1980 and see if it is applicable to your case or not.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 December 2013 to build a case for your client, refer http://www.cadkg.in/income-tax/118-prosecution-us-276b-for-defaults-of-tds.html

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