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Tcs return

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2014 During the F.Y 2013-14 company has deducted and deposited TCS with in time but company has fail to submitted TCS return except Q3. so can anybody tell me what are the consequence.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 August 2014 Late fees of Rs 200 per day subject to a maximum of TCS amount involved will have to be paid u/s 234E.

Default will be counted from the due date of filing of return till the date on which the return is actually filed.
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Rupesh Jain

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Rupesh Jain (Expert)
06 August 2014 you have tot pay TCS return fine u/s 234E @ 200 per day for default period till actul file date.
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2014 If co did not want to file the return as party did not demand for certificate. then what are the consequence.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 August 2014 Since you have deducted and deposited the amount you have to file the return.
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2014 Is there any maximum limit of penalty?
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2014 Is there any maximum limit of penalty?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 August 2014 It is mentioned herein above. The amount of penalty can not be more than the TCS amount involved.
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 August 2014 Ok Thanks for the reply

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