04 April 2012
Whether to file NIL TDS Return is compulsory?
Before the 2012 budget, the penalty was maximum up to TDS amount and in this case will be NIL.
But after the insertion of new section 271 H w.e.f 01.07.2012, the penalty will be Rs. 10000 to 2 lacs, if return has not been filed within the period of 1 year from the specified date.
is there any clarification for NIL TDS Return. is it compulsory?
CAclubindia
