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Monthly Archives: March 2014

Notification for Extension of date for receipt of ITR-Vs in CPC, Bengaluru, for the cases of AY 2012-13 and 2013-14 received/e-filed in FY 2012-13- Reg.There are many taxpayers who have uploaded their Income Tax Returns (without digital signature Certificate) for A.Y. 2012-13 [filed between 1.4.2012 to 31.10.2013] and for A.Y. 2013-14 [filed between 1.4.2013 to 31.10.2013], but have either not filed the corresponding ITR-V or have filed it with the local Income-Tax Office. ITR-V is accepted only at CPC, Bengaluru by ordinary or speed post.

In this post I want to discuss some provisions which make it clear that we should not take TDS lightly and we should take extra care about payment of TDS and filing of TDS Returns,because it makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax Act, 1961.

Since a many days CPC (TDS) sending notices to deductors.One of the reason for the same is Short Payment of TDS and other one is wrong Permanenet Account Number. In view of the close of the month approaching fast, you are advised to pay the outstanding demand at an early date to avoid Penal Interest u/s 220(2) of the Act read with Rule 119A, apart from intimation of other recovery proceedings as per Income Tax Act, 1961.

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