What is the penalty and interest for late filing of e-tds returns? Whether it is mandatory to deposit before filing of returns?
prateek aanchalia
(CA)
(859 Points)
Replied 17 April 2012
Rs. 100 per day penalty after due date return filing..
that penalty is deposit when income tax dept. demand for penalty otherwise not require in advance deposit.
Murtaza I Bhagat
(Tax & Finance Consultant)
(10523 Points)
Replied 17 April 2012
No filing or Late filing of TDS returns or TDS statement shall invite 2 penal consequence as the finance bill 2012-13 has given 2 New provisions – Fee for late filing U/s 234E and Penalty for late filing or Non filing of TDS statement U/s 271H.
Fee U/s 234E for late filing of TDS Statement:
If you filed late income tax return, there is consequential penalty in form of interest u/s 234A if there was tax due as per return. Similarly in the same chapter new section 234E has been proposed to be effective from 1st of July 2012, with heading “Levy of Fee in certain case” deductor will be liable to pay by way of fee of Rs 200 per day till the failure to file TDS statement continues, However, the total fee cannot exceed the amount of TDS deductible for which statement was required to be filed.
Penalty for late filing or non- filing TDS statement
Similarly a new penalty provision has been inserted as section 271H which provides that a deductor shall pay penalty of minimum Rs 10,000 to Rs 1 lakh for not filing the TDS statement within one year from the specified date within which he was supposed to file the statement. This amendment is also effective from 1st July 2012.
Thus, if the present due time for filing TDS statement is taken, the time up to which the penalty u/s 271H cannot be imposed are explained for any tax deduction for FY 2012-13
| Sl. No |
TDS Statement |
Due date |
Date up to which no penalty u/s 271H can |
|
1 |
30th June |
15th July 2012 |
15th July 2013 |
|
2 |
30th September |
15th October 2012 |
15th October 2013 |
|
3 |
31st December |
15th January 2013 |
15th January 2014 |
|
4 |
31st March |
15th May 2013. |
15th May 2014 |
Ram Ji Srivastava
(Astt Manager Accounts)
(218 Points)
Replied 07 May 2012
the said Rs 10000 to 1 lac penality applicable on only late/delay filing of TDS return or it will also cover the other wrong PAN no etc error. pls advice.
CA. Amit Kumar
(Practice)
(51 Points)
Replied 01 July 2012
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GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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