Dear All
By mistake we have not filed TDS return for the qtr ended 31.12.2015 ,the TDS amount is only Rs.1000/-.
If we will file now what is the penalty will come for non filing of TDS.
Waiting for a prompt reply
gupta (Accountant) (305 Points)
28 March 2016Dear All
By mistake we have not filed TDS return for the qtr ended 31.12.2015 ,the TDS amount is only Rs.1000/-.
If we will file now what is the penalty will come for non filing of TDS.
Waiting for a prompt reply
Jacky
(Accountant & CA Final Student)
(320 Points)
Replied 28 March 2016
max to max penalty fee is restricted upto the TDS amount
however, interest amount will also have to be paid......
gupta
(Accountant)
(305 Points)
Replied 28 March 2016
Thanks Mr. Jacky . But interest what for. I have deducted and deposited as per due date but only mistake is non filing. So pls advice should we have to pay penalty as well as interest.
For my update of knowledge can you refere the Sec. or circular about this, pls sir.
Jacky
(Accountant & CA Final Student)
(320 Points)
Replied 28 March 2016
ok then no interest but
Fees and Penalty for Late Filing of TDS Returns are as follows:
Section 234E – Levy of Fees
Section 271H – Penalty
Refer below link:-
https://taxtoppers.com/income-tax/income-tax-fees-penalty-for-late-non-filing-of-tds-return
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India