Late fee of filling e-tds return

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Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2013 Sir,

Please confirm that how much late fee will be charged by Income tax on filling e-tds return.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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24 August 2013 Sec.234E late filling of TDS return will attract Rs.200 per day from the due date to date of filling

Ganeshbabu K

Ganeshbabu K (Expert)
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24 August 2013 Currently Non filing or late filing of TDS return or TDS statement shall invite two penal consequence as the Finance Bill 2012-13 has inserted two new provisions :

(i) Fee for late filing : section 234E
(ii)Penalty for late filing or Non filing of TDS statement or e-TDS Return as per section 271H.

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Ganeshbabu K

Ganeshbabu K (Expert)
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24 August 2013 1)Section 234E – Levy of Fees

(i) Failure to submit e-TDS Statement on time will result in fees on the deductor.

(ii)If you delay or forget to file your e-TDS Statement, fees of Rs. 200 per day will be levied on the deductor, as long as TDS Statement is not filed.

(iii)The levied amount of fee is not supposed to exceed the TDS deductibles.

(iv) Prior to filing of TDS Statement such fee should be paid and it should be reflected in the TDS Statement.

2)Section 271H – Penalty

(i)Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,

(ii)If deductor exceeds one year time limit to File TDS Statement.

(iii)If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.