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PENALTY ON LATE FILING OF TDS RETURN (Income Tax)

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This query is : Resolved



( Author )
16 April 2010

DEAR EXPERTS,

Following are the consequences for delayed filing of TDS returns.
1.There is a penalty provision of Rs 100 per day, for delayed filing of Quarterly statement under TDS or TCS.
2.The filing and thereby consequences are treated separately for Form 24Q, 26Q, 27Q and 27EQ.

My question is has anybody come across such situation that a penalty has been imposed for delay in filing TDS return.

Regards.


Aditya Maheshwari

( Expert )
16 April 2010

No I have not seen any penatly being levied for delay in filing of TDS return as yet.

However one of my client had received notice regarding delay in issue of TDS certificate of Rs. 100/- per day for 1 day of delay.


Aditya Maheshwari

( Expert )
16 April 2010

But for that notice also it was not a technical fault as the due date for issue of certificate was sunday and the certificate was issued on the next day though the thing done was wrong as per us as it should have been issued a day earlier we had won the case on the above basis.


CMA. CS. Sanjay Gupta

( Author )
16 April 2010

THANKS. SAME IN MY CASE. I HAVE FILED MANY DELAYED TDS RETURNS BUT NO PENALTY HAS BEEN LEVIED AS YET.
PLEASE TELL ME THE DUE DATES FOR ISSUE OF TDS CERTIFICATES.


Aditya Maheshwari

( Expert )
16 April 2010

It is specified in rule 31 read as under notification number 9/2010 dated 18-02-2010

31. (1) The certificate of deduction of tax at source or, the certificate of payment of tax by the employer on behalf of the employee, under section 203 to be furnished by any person deducting tax in accordance with the provisions of—
(a) section 192 shall be in Form No. 16 :
Provided that in the case of an individual, resident in India, where his income from salaries before allowing deductions under section 16 of the Income-tax Act, 1961 does not exceed rupees one lakh fifty thousand, the certificate of deduction of tax at source shall be in Form No. 16AA;
(b) section 193, section 194, section 194A, section 194B, section 194BB, section 194C, section 194D, section 194E, section 194EE, section 194F, section 194G, section 194-I, section 194J, section 194K,section 194LA, section 195, section 196A, section 196B, section 196C and section 196D shall be in Form No. 16A.
(2) The certificate mentioned in sub-rule (1) shall be furnished within a period of one month from the end of the month during which the credit has been given or the sums have been paid or, as the case may be, a cheque or warrant for payment of any dividend has been issued to a shareholder:

Provided that where the income by way of interest on securities referred to in section 193 or the income by way of interest referred to in section 194A or the sum referred to in section 194C or the income by way of insurance commission referred to in section 194D or the payment to non-resident sportsmen or sports associations referred to in section 194E or the income by way of commission, remuneration or prize on sale of lottery tickets referred to in section 194G or the income by way of commission or brokerage referred to in section 194H or the income by way of rent referred to in section 194-I or the income by way of fees for professional or technical services referred to in section 194J or the interest or any other sum referred to in section 195 or the income of a foreign company referred to in sub-section (2) of section 196A or the income from units referred to in section 196B or the income from foreign currency bonds or shares of an Indian company referred to in section 196C or the income of Foreign Institutional Investors from securities referred to in section 196D is credited by a person to the account of the payee as on the date up to which the account of such person are made, the certificate under sub-rule (1) shall be issued within a week after the expiry of two months from the month in which income is so credited :

Provided further that the certificate in the case of deduction of tax under sub-section (1) of section 192 or, payment of tax by the employer on behalf of the employee, under sub-section (1A) of that section or section 194D may be furnished within one month from the close of the financial year in which such deduction was made :

Provided also that the certificate in cases, other than those mentioned in the second proviso, where payment of income-tax deducted is permitted quarterly in accordance with clause (a) of the proviso to clause (b) of sub-rule (1) of rule 30 may be furnished within fourteen days from the date of payment of income- tax:

Provided also that where more than one certificate is required to be furnished to a payee for deductions of income-tax made during a financial year, the person deducting the tax, may on request from such payee, issue within one month from the close of such financial year a consolidated certificate in Form No. 16A for tax deducted during whole of such financial year.


Aditya Maheshwari

( Expert )
16 April 2010

To summarise form 16 to be issued till 30.04
form 16A if account credited on 31.03 then upto 07.06 and in other cases if one certificate for the whole year then 30.04 and in case of individual certificate within one month from the date of payment or credit


CMA. CS. Sanjay Gupta

( Author )
16 April 2010

DEAR ADITYA JI,

CAN YOU EXPLAIN THE DUE DATES IN BRIEF?

FURTHER I WANTED TO KNOW REGARDING THE ABOVE CASE MENTIONED BY YOU, HOW DID THE DEPARTMENT KNEW THAT THEIR WAS DELAY IN ISSUING TDS CERTIFICATE.

WHAT IF SOMEBODY ISSUES TDS CERTIFICATE AFTER DUE DATE, MENTIONING DATE WITHIN DUE DATE? HOW WILL DEPTT COME TO KNOW REGARDING THE DELAY IN ISSUE?
PLEASE CLARIFY? I HAVE LOTS OF CONFUSION REGARDING THIS.

REGARDS.


Aditya Maheshwari

( Expert )
16 April 2010

It was a technical mistake on the clients part that details of form 15G/H received during the year was to be submitted. Along with that by mistake Form 16A was sent with those forms and that is how the department came to know of it.

It was submitted by mistake by the client

In practical life everyone issues tds certificate after due date, mentioning date within due date.


dharmesh bilakhiya

( Expert )
26 November 2013

FOR LATE FILING OF TDS RETURN THERE IS LATE FILING FEES I.E. 200 PER DAY.
REFER SECTION 234E


CMA. CS. Sanjay Gupta

( Author )
26 November 2013

Section 234E is effective from 01.07.2012 i.e., well after the query was asked.


Aditya Maheshwari

( Expert )
27 November 2013

Section 234E applicable in respect of tax deducted after 01st July, 2012 and not 31st July.


CMA. CS. Sanjay Gupta

( Author )
28 November 2013

Corrected Aditya Sir...Galti se 31st Type ho gaya tha instead of 1st.


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