tax deducted at source

Staff not liable if employer under IBC fails to deposit TDS: Bombay HC

by
Staff not liable if employer under IBC fails to deposit TDS: Bombay HC

New Delhi: The Bombay High Court on Wednesday ruled that employees are not liable for deposit of tax deducted at source (TDS) if the employer of a company undergoing resolution under Insolvency and Bankruptcy Code fails to do so. The order comes as a relief to employees of companies such as Byju’s who had received … Read more

No Action for Short Deduction of TDS, If PAN Linked With Aadhaar by May 31

by
No Action for Short Deduction of TDS, If PAN Linked With Aadhaar by May 31

The move gives some relief to tax deductors concerning cases where the PAN of deductees is found to be inoperative due to non-linkage with Aadhaar. As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate The income … Read more