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eTDS return

Rishubh Mathur (Analyst -Taxation) (442 Points)

18 June 2008

Plz specify with provisions which will be attracted & needful to be done if a company fails to file its e-TDS return for all 4 quarters for FY 2007-08, though it has duly deducted & deposited the same?

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PRAVEEN KUMAR (MBA (Finance) B.Com.(P)) (3443 Points)
Replied 18 June 2008

Might be answer to ur queryn :-)

Sr.No.

Section

Nature of Default

Quantum of penalty

Income Tax authorities who can levy penalty

272A(2)

Failure to

a) comply with notice u/s 94(6)

b) give notice of discontinuation of business or profession as required u/s 176(3)

c) furnish in due time returns, statements or particulars mentioned in Section 133, 206, 206C and 285B

d) allow inspection of any register referred to in Section 134

e) furnish return of income as required u/s 139 (4A) (4C) within time allowed under that section

f) deliver in due time a copy of declaration mentioned in section 197A

g) furnish a certificate as required by Section 203 or 206C

h) to deduct and pay tax as required by section 226(2)

i) furnish a statement as required by Section 192(2C)

j) Failure to deliver declarations mentioned in Section 206C(1A)

k) Failure to deliver a statement within the time specified under section 200(3) or proviso to section 206C(3)

l) Failure to deliver a quarterly return within the time specified u/s 206A(1) with effect from 1/6/2005

A sum of Rs.100 for every day during which failure continues but in relation penalty will not exceed by the amount of tax deductible or collectable in relation to non-compliance of Provisions of Section 197A, 203, 206 and 206C.

Joint/Addl.CIT/ Director

In case falling under Clause f, by the Chief Commissioner or Commissioner