Can the Fees levied U/s 234E be waived on reasonable grounds ?? Please clarify ??
3 Replies
Mihir
(Wealth Manager)
(5293 Points)
Replied 29 December 2013
Penalty u/s 234E cannot be waived off. However, the IT dept must follow due course of 'natural justice' and give appropriate opportunity to the assessee in default to give his side of the story before imposing any penalty upon him. So, it depends on the explanation of the assessee that will decide the issue.
CA MANOJ KUMAR MANTRI
(CHARTERED ACCOUNTANT)
(38 Points)
Replied 29 December 2013
234A/B/C Interest can be waived by CCIT/DGIT or
It can be relaxed by CBDT OR
When both does not provide benefit then a WRIT PETITION can be filed against that since no appeal can be made against 234A/B/C Interest levy
But same is not the case with 234E, It is a penalty and word used in section is "Shall", hence it mandatory to be paid
From 1st July 2012, No TDS return can be filed without paying interest U/s 234E
CA.MANOJ MANTRI
Ganeshbabu K
(Audit and Tax Advisory)
(48564 Points)
Replied 30 December 2013
As of now there is no chance for waiver of Fee u/s 234E.it is mandatorily required to paid
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