IT dept collects Rs 200 per day for late filing of TDS return.
If Govt gets money[taxes]in its treasury on time and if return is filed late then
the real beneficiary of this penalty must be the deductee [assesse] ? .
The assesee gets benefits as interest on TDS only from start of AY and only on [Tax credit -Tax liability] amt while the TDS amt is in Govt treasury for 3/6/9 months .
Again if TDs return is not filed the penalty is fully taken by Govt
Please comment on above. What is the exact law?.
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