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Penalty u/s 234e on delay filing of form 24q and 26q

23 October 2015

Fact of the Case

assessee has not filed TDS statement 24Q and 26Q for the 1st quarter of financial year 2015-16 due date of filing is 15th july 2015 whereas filing is not yet done penalty unsder section 234E is leviable for both the statement or what suppose praposed date of filing is 30th oct.2015 than what would be the penalty u/s 234E

1) wheter 17800/- for each of the statement

2) Rs. 17800/- only for both

please share your views on it

thanks and regards

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3 Replies

Ruchi (CA) (1410 Points)
Replied 23 October 2015

If the assessee is liable to file both the statements 24Q as well as 26Q then the penalty will have to be paid for each statement separately. However, if only one statement needs to be filed then penalty for only one statement has to be paid.

It must be noted that at least one statement should be filed for the concerned quarter even if it is a Nil statement and if both are Nil statements then one is suffice.

Sec 234E is not in the nature of penalty but late fees and hance will have to be paid before filing the return. it is Rs. 200 per day but does not exceed the amount of tax for the relateed period.