Facts of the case : A company has defaulted in filing the quarterly TDS returns, though tax has been properly deducted and paid to the credit of government treasury in time.
Query: What are the various penal consequences in addition to attraction of penalty u/s. 272BB?
Dear Rachit,
Penalty u/s 272A of Rs. 100/day may be imposed to the extent of amount of TDS
I don't think 272BB is for default in filing TDS Return - It is for not quoting TAN, etc
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