Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

Tds late filing

kumar Rahul (account Student) (160 Points)

03 February 2014

respected, i am new to forum.recently our department got notice from income tax department for late filing of tds q2,tds q3, tds q4 return for fy 2012-13.we were nt aware of rules,but we have submited the tax through book entry on time.kindly help to avoid late fee charges?

Reply
Follow
Share

2 Replies

Mihir (Wealth Manager) (5293 Points)
Replied 03 February 2014

Late deduction, late deposit and also late filing of TDS return will attract penal interest.

Section 234E of IT Act shall apply when one fails to file TDS return on time. The penalty is Rs. 200/- per day for delay but won't exceed the tax amount. The chances of waiving off the penalty is very slim.