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Applicability of 234e on 24q

Rajesh (CA Final) (31 Points)

23 June 2016

TDS on salary is payable on Payment of Salary. If this happens with in the quarter or with in the financial year it is fine. Say for salary for a period of 6months of one previous year, paid in other pervious year. Say salary due for period of October 2015 to March 2016 is paid on say 1st June 2016. Now TDS is payable on 1st June 2016. So returns of 2015-16 will be filed on 1st June. In such cases late filing fee of Rs.200 per day is it applicable?

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3 Replies

CMA Poornima Madhava (CMA) (13097 Points)
Replied 23 June 2016

Since the due date itself for payment of TDS is within 7 days after payment of salary, it would be pertaining to the quarter when the payment of salary is actually made I think. Hence there may not be any need to pay late fees as the return does not pertain to earlier period.