Query on tds

have you deposited the TDS deducted or not

1.Not Filling Of Tds Return With In Due Date:-

  1. 200/- Per Day From Due Date Date Of Filing.

      2.  Actual Tds Amount.

2.Delay In Payment Of Tds Amount.

  Case (1):- Deducted But Not Paid.

  1.5%P.m From The Date Deduction to till the date of Payment.

  Case(2) :- Not Deducted And Not Paid.

  1 % P.m From The Date Of Deductible to Actual Date Of Deduction.

  1.5% P.m From The Date Of Deduction To Till The Date Of Payment.

Absolutely my this chart will help u in more clearly understanding.

@ saurabh singh : i had deposited those deducted tds in time

• penalty (Sec 271H): Assessing officer may direct a person who fails to file the statement of TDS within due date to pay penalty minimum of Rs.10,000 which may extended to Rs.1,00,000.
• Penalty under this section is in addition to the penalty u/s 234E.
• This section will also cover the cases of incorrect filing of TDS return.

furthere, u have reason for that not able to fill return then it must be proved ,no liability will arise then to u.

further more, no penalty in 271h will arise if -

• The tax deducted/collected at source is paid to the credit of the Government.
• Late filing fees and interest (if any) is paid to the credit of the Government.
• The TDS/TCD return is filed before the expiry of a period of one year from the due date specified in this behalf.

So if u file return before the expiry of one year of filling return date , then feel free no liabilty will be arise to u.

regards