271(1)(c) penalty

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anyuta modi (Querist)
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22 December 2011 my assessee is nationalized bank.It deduct TDS on MICR charges @2% u/s 194C, actually it should be 10%u/s 194J. Can assessing officer disallow MICR charges u/s 40 and can he levy penalty u/s 271(1)(c) for it

Aditya Maheshwari

Aditya Maheshwari (Expert)
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22 December 2011 You query has been replied here
https://www.caclubindia.com/experts/lower-deduction-of-tds-847985.asp

since there is no question of disallowance there is no question of levying any penalty u/s 271(1)(c).

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