Tag: Interest and Penalty

CBDT waives interest on tax demands from incorrect 87A rebate under new tax regime. Pay by 31 Dec 2025 to avoid interest under Section 220(2).

CBDT has notified the specified monetary limits for the reduction or waiver of interest paid or payable under section 220(2) of the Income Tax Act for different Income Tax …

CBIC notifies reduction/waiver of late fee applicable for failure/delays in filing GSTR-7 (GST TDS Return) from the month of June 2021 and onwards.

RBI's new guidelines on penal charges in lan accounts to ensure fairness, transparency, and credit discipline, effective from January 1, 2024.

CBIC clears the confusion around interest charges for wrong IGST credit under GST. Stay compliant and understand the rules to avoid penalties. Read now.

Discover the implications of the Supreme Court's ruling in the US Technologies International Pvt. Ltd. vs CIT case, which clarifies penalties u/s 271C for delayed TDS deposits.

CBDT prescribes procedure for handling of assessment/ penalties by Jurisdictional Assessing Officers in cases transferred out of Faceless Assessment/ Faceless Penalty proceedings under the Income-tax Act, 1961. Also CBDT …

GST Council, in its 40th Meeting held on 12/06/2020 has recommended to reduce/ waive the interest/ late fee for delayed filing of GSTR 3B by small taxpayers (having turnover …

EPFO has provided relief to employers from levy of penal damages for any delay in deposit of PF contribution(s)/ administrative charges due for the period during Lockdown (COVID-19). No …

CBIC notifies to waive the late filing fee in respect of GSTR 1 & 6 (July 2019) provided the same is filed upto 20/09/2019, in the case of taxpayers …