Tds
This query is : Resolved
02 November 2015
Sir,
If I revise the TDS returns for the F.Y2013-14 late filling penalty of Rs200/day would arise?? As the liability for deducting TDS arised at that time but due to lack of knowledge or due to some misjudgement TDS was not deducted & neither shown in the return. But now TDS along with interest upto date would be paid.
Further is there any maximum amount of interest??
Also guide me about the penalty for not deducting TDS would it be levied ? as now I am depositing the required amount without any notice or intimations from IT dept.
02 November 2015
Late fine not applicable when correction TDS statement is filed
Interest for late deduction is 1% per month or part thereof
Interest for late deduction is 1% per month or part thereof
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