Poonawalla fincorps
Poonawalla fincorps

Penalty on nil tds return

This query is : Resolved 

24 September 2014 Hello everyone,

I want to know that is there any penalty on non filing of Nil TDS Return of FY 2012-13.

My co. has sold its business to other co. but not Name on 01.09.2012. We are filling every year Income Tax return but not filing Nil TDS Return since when it has sold its business.

My query is that is there any penalty on non filing of Nil TDS Return.


Thanks
Sushil Gupta
08588966683

24 September 2014 no. there wont be any penalty...........

25 September 2014 the ans is no...................................


25 September 2014 Dear Sir,

Thanks for your reply. Further i request you to send circular related this.

25 September 2014 please refer section 234E. the penalty is limited to tax deductible...if there is no tax deduction, there can be no penalty



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