ITAT, Bangalore Deletes Penalty on TDS Default by SBI on LTC Payments - 02.03.2020

Income Tax Appellate Tribunal (ITAT), Bangalore has deleted the penalty proceedings initiated by the tax department against the State bank of India ( SBI ) for not deducting Tax Deducted at Source (TDS) on Leave Travel Concession (LTC) to its employees on travel outside India stating that there was a reasonable cause on the part of the bank for the non-deduction of tax.

Tags : Income Tax Appellate Tribunal Penalty on TDS Default by SBI

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