Penalty on non- filing of tds return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2013 An assessee has deducted TDS in FY 2007-08 and FY 2008-09 and has duly deposited it but he failed to file the TDS return till date(i.e 28/10/2013). He has received an intimation from the IT dept regarding it which mentions that TDS return to be filed immediately so that the deductee can claim the TDS deducted. However the intimation does not have any mention about the interest or penalty to be paid. Will the assesee be liable to pay interest or penalty
The Sec. 271E and Sec. 271H were introduced w.e.f 01.07.2012, is the assessee liable to pay interest or penalty for FY07-08 & 08-09?

Ganeshbabu K

Ganeshbabu K (Expert)
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28 October 2013 Yes, But you may get penalties under section 234E and 272(A)(g)
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Section 234E – Levy of Fees

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

2)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.

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

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

**Section :-272(A)(g)

Failure to issue TDS certificate u/s 203
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Rs. 100 every day during which the failure continues subject to maximum of TDS amount.

**If you dont have TAN number also one more penalty u/s 272BB will be levied which will be not less than 100000
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Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2013 What about levy of penalty u/s 271H? Will the assessee be liable to pay penalty even if it is not mentioned in the intimation received from the IT dept.?

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Ganeshbabu K

Ganeshbabu K (Expert)
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29 October 2013 271H may not applicable as it is made effective 01.07.2012