DID YOU KNOW that in the absence of machinery or a prescribed rate for deducting tax at source (“TDS”), the deductee may not be required to deduct tax?
DID YOU ALSO KNOW that we have successfully obtained an unconditional stay of recovery of tax, interest and penalty demands against our client by the Income Tax Department where recovery proceedings were initiated against the client for not deducting TDS as it was prima facie observed by the High Court that there was no machinery or rate prescribed for tax deduction in the case of payouts of accumulated balance of provident fund made by a Regional Provident Fund.