05 February 2019
I(individual) purchased a flat in July 2018, on payment i deducted TDS amount approx 75000 which is till now i have not yet deposited to govt.
what would be the amount of penalty if i will deposit amount in feb-19.
05 February 2019
Yes interest 1.5% For Buyer of Property: In case of default on account of Non / late filing of Form 26QB, a fee shall be levied u/s 234E of the Act. He shall be liable to pay, by way of fee, a sum of Rs. 200 (two hundred) for every day during which such failure continues. The buyer would also be liable for defaults of Late Deduction, Late Payment and Interest thereon. Penalty under S. 271H may also be levied on him by the Assessing Officer..
CAclubindia
