Nation Crime 15 Mar 2019 Bengaluru: I-T dept ...

Bengaluru: I-T dept finds TDS default of Rs 51 crore

DECCAN CHRONICLE.
Published Mar 15, 2019, 3:50 am IST
Updated Mar 15, 2019, 3:50 am IST
It was found that some of the deductors have deducted taxes, but not remitted TDS to the government account amounting to Rs 51 crore.
As per the Department TRACES System, it was observed that huge arrear demand is pending against various deductors. To recover long outstanding demand, the Department has taken coercive measures and attached their bank accounts, debtors as well as immovable properties. (Representational image)
 As per the Department TRACES System, it was observed that huge arrear demand is pending against various deductors. To recover long outstanding demand, the Department has taken coercive measures and attached their bank accounts, debtors as well as immovable properties. (Representational image)

Bengaluru: The TDS wing of Income Tax Department, Bengaluru has detected various TDS defaults amounting to Rs 51 crore in large number of cases such as non-remittance, non-deduction and non-filing of TDS returns during its mass TDS surveys on February 19 and 26 covering 76 cases from both government and private sectors, said an official spokesperson.

It was found that some of the deductors have deducted taxes, but not remitted TDS to the government account amounting to Rs 51 crore. The Department also detected non-deduction of taxes on expenditure to the extent of Rs 508 crore, which includes non-deduction of TDS on interest payments, payment gateway charges, commission payments, contract payments, year-end provisions & on payments for cloud based services.

 

As per the Department TRACES System, it was observed that huge arrear demand is pending against various deductors. To recover long outstanding demand, the Department has taken coercive measures and attached their bank accounts, debtors as well as immovable properties. Since the end of the financial year is nearing, all tax deductors have been advised to deduct TDS and remit to Government account as per the provisions of the Income Tax Act.

The Department has cautioned the deductors that aside from interest, late fee and penalty, default in deduction/remittance can lead to arrest and detention in prison and prosecution resulting in long sentences.

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Location: India, Karnataka, Bengaluru




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