Apply for non deduction of TDS u/s 195 even if person was subjected to concealment penalty

By | May 7, 2016

A person can apply for non-deduction of TDS u/s 195 even if he has been subjected to concealment penalty

[TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION NO. SO 1655(E) [NO.31/2016 (F.NO.370142/3/2016-TPL)], DATED 5-5-2016

In exercise of the powers conferred by section 295 read with section 195 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. (1). These rules may be called the Income-tax (12th Amendment) Rules, 2016.

(2). They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962, in rule 29B, in sub-rule (2), the clause (iii) shall be omitted.