Tds default notices u/s 234 e

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2013 FRIENDS

I HAVE FILED E TDS RETURNS LATELY AND RECEIVED LOT OF MESSAGES FROM TDSCPC

IN THAT MENTIONED HUGE PENALTIES U/S 234 E FOR LATE FILLING OF E TDS RETURNS

IT IS COMPULSORY TO PAY OR ANY WAIVER IS THERE TO NOT TO PAY

LET ME SEND THE DETAILS REGARDING THIS TOPIC

THIS WILL USEFUL TO LOT TDS DEFAULTERS

REGARDS

PHANI

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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15 December 2013 The late fee has to be compulsorily paid.
.
In my view, the provisions of Section 234E are too harsh and unreasonable. Waiver is not possible as on to date.
.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 December 2013 as bafna ji said, 234e is mandatory in nature.

However, in cases of undue financial hardship, you can file application under section 119 for reduction or waiver of interest payable. The power to reduce the interest penalty is given to CCIT vide notification No. F. No. 400/234/95-IT (B) dated 23-5-1996.

You may refer: 2005 142 TAXMAN 241 All

You shall have to prove the financial hardship though.

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