09 July 2012
234E - Fee for defaults in furnishing statements- If a person fails to deliver or cause to be delivered a statement within the time prescribed, he shall be liable to pay, a sum of Rs 200 for every day during which the failure continues. This provision is applicable from 1st July 2012.
Now my question is - will this section be applicable for any of the Quarter of F.Y. 2011-2012 i.e if any person who fails to deliver the Quarterly statement relating to F.Y. 2011-12 within the time prescribed and the person submits the statement after 1st July 2012. Then will this section be applicable to that person and penalty of Rs 200/- per day will be levied.
Please refer to sub-section 4 of section 234E. This sub-section reads as follws:- "(4) The provisions of this section shall apply to a statement referred to in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C which is to be delivered or caused to be delivered for tax deducted at source or tax collected at source, as the case may be, on or after the 1st day of July, 2012."
So it is clear that, in the cases where due date of the statements which are falling on or after 01/07/2012 and have not been furnished withing due date,will attack this provision.
Hence in case of any statements for the FY 2011-12 will not be covered under this provision.
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