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Non filing of tds return - 26q

gupta (Accountant) (305 Points)

28 March 2016

Dear All

By mistake we have not filed TDS return for the qtr ended 31.12.2015 ,the TDS amount is only Rs.1000/-.

If we will file now what is the penalty will come for non filing of TDS.

Waiting for a prompt reply

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4 Replies

Jacky (Accountant & CA Final Student) (320 Points)
Replied 28 March 2016

max to max penalty fee is restricted upto the TDS amount

however, interest amount will also have to be paid......

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gupta (Accountant) (305 Points)
Replied 28 March 2016

Thanks Mr. Jacky . But interest what for. I have deducted and deposited as per due date but only mistake is non filing. So pls advice should we have to pay penalty as well as interest.

For my update of knowledge can you refere the Sec. or circular about this, pls sir.

Jacky (Accountant & CA Final Student) (320 Points)
Replied 28 March 2016

ok then no interest but

Fees and Penalty for Late Filing of TDS Returns are as follows:

Section 234E – Levy of Fees

Failure to submit TDS return on time will result in fees on the deductor.
If you delay or forget to file your TDS return, fees of Rs. 200 per day will be levied on the deductor, as long as TDS return is not filed.
The levied amount of fee is not supposed to exceed the TDS deductibles.
Prior to TDS filing such fee should be paid and it should be reflected in the TDS return.

Section 271H – Penalty

Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,
- If deductor exceeds one year time limit to File TDS return.
- If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.

Refer below link:-

https://taxtoppers.com/income-tax/income-tax-fees-penalty-for-late-non-filing-of-tds-return