Tds return

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Akshata (Querist)
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24 January 2013 Is filing Quarterly TDS return compulsory in case of private company?
We have missed the due date of 15th Jan,is there any penalty for the same?
We have not deducted any TDS from April 2012 till date.

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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26 January 2013 IF THE COMPANY IS MAKING ANY PAYMENTS WHICH ATTRACT TDS, THAN IT IS THE RESPONSIBILITY OF THE COMPANY TO DEDUCT AND REMIT THE TDS WITHIN THE TIME FRAME OR AFTER THAT ALONG WITH THE INTEREST.

SINCE U HAVE FAILED TO DEDUCT THE TDS THE SAME CAN BE DEDUCTED NOW AND PAY IT ALONG WITH THE INTEREST. PENALTY FOR LATE FILING OF RETURN IS RS.200/-PER DAY OF DEFAULT WEF JULY' 2012 ONWARDS