21 April 2009
Hai..... For A/yr 09-10, our company has not paid TDS for 3quarters yet due to some funds problem.. So what will be the penalty and is interest to be calculated at 1%. Please guide me..
21 April 2009
Penalty can be imposed u/s 272A(2) @ Rs 100/- for every day during which the failure continues. However, penalty will be waived u/s 273B if failure can be proved on account of reasonable cause. Interest is 1% for every month or part of a month's delay as per section 201(1A).
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