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Late filing of tds returns

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2012 Sir,

What is the penalty for late filing of TDS Returns? i have submitted TDS returns for F.Y. 2010-11 in March-2012? What amount of penalty can be levied on me?
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
31 March 2012 They can impose penalty U/s 272A(2). Penalty will be Rs.100 ( each return) per day default continues but subject to maximum of tds amount.

But before passing any order for imposing penalty, the IT department is required provide us an opportunity to explain our situation(notice).
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
14 April 2012 Experts have given proper reply to your query and I agree with them
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