15 February 2016
TDS has to be deposited online and the quarterly return has to be filed online. Non deduction of TDS would result in the expense being disallowed during assessment. Further, if TDS is deductible and there is a delay in deducting and depositing TDS then interest is leviable. Further under section 234 E a late fee for delay in filing quarterly TDS Return at the rate of Rs.200 per day will be levied subject to a maximum amount equal to TDS.
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