30 September 2015
Dear Sir,
I am shobha, wanted to know that
*How to calculate interest n penalty( U/s234E & 200, rule 31A of Income Tax Act 1961)for the late payment of TDS to the Gov.
*how the rule is in practice, do I have to pay penalty myself or have to pay after receiving a notice for the same.
As per section 234E, If a person fails to file the TDS return on or before the due, then he shall be liable to pay fee of Rs.200 for every day during which the failure continues and pls. note that the amount of late fees cannot not exceed the amount of TDS
CAclubindia
