Penalty on non payment of tds

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Puneet Gupta (Querist)
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26 September 2013 What is the penalty for the company with nil TDS return for not filing it.

If there is penalty for late payment, is penalty only for last quarter or for subsequent quarters too

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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05 October 2013 Whether you have paid the TDS if not then interest is to be paid if the delay is more then 12 months then prosecution proceeding with penalty for delay in filing of the return

Fees and Penalty for Late Filing of TDS Returns are as follows:

Section 234E – Levy of Fees

Failure to submit e-TDS Statement on time will result in fees on the deductor.
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.
The levied amount of fee is not supposed to exceed the TDS deductibles.
Prior to filing of TDS Statement such fee should be paid and it should be reflected in the TDS Statement.
Section 271H – Penalty

Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,
If deductor exceeds one year time limit to File TDS Statement.
If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.