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Tds rs.200/day

AVIJIT (CA FINALIST) (370 Points)

19 October 2013

1. if a company has not deposited its TDS Return for FY 11-12 and if it files it now then also will this Rs. 200/day penalty will apply?

2. If the Company now files the Nil Return for FY 11-12 and then after 3-4days again files the correct return can the Rs.200/day be avoided? As for Nil Return fees is also Nil and there are no provisions saying fees for revised TDS return.

3. If Nil TDS return is filed & then revised then also can penalty be levied due to inaccurate TDS Return?

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6 Replies

CA. Dashrath Maheshwari (TaXpert) (15090 Points)
Replied 19 October 2013

Fees and Penalty for Late Filing of TDS Returns are as follows:

Section 234E – Levy of Fees

Failure to submit e-TDS Statement on time will result in fees on the deductor.
If you delay or forget to file your e-TDS Statement, fees of Rs. 200 per day will be levied on the deductor, as long as TDS Statement is not filed.
The levied amount of fee is not supposed to exceed the TDS deductibles.
Prior to filing of TDS Statement such fee should be paid and it should be reflected in the TDS Statement.

Section 271H – Penalty

Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,
- If deductor exceeds one year time limit to File TDS Statement.
- If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.

1 Like

@VaibhavJ (Believe!! Live your dreams!) (33511 Points)
Replied 19 October 2013

No penalty for NIL return & on its revision!!

Thanks//VaibhavJ

1 Like

Sourav (Achieving d UnAchieved) (991 Points)
Replied 21 October 2013

Sorry my friend but its not possible anymore. CBDT has now provied that “TDS statement can not be filed without quoting any valid challan and deductee row. “ Which implies that Nil TDS return is no more permissible.

Earlier Asssessee use to submit NIL TDS return to avoid penalty for late Filing of TDS Return as they use to revise the return post filing of Nil Return. Now the same is not possible. A good move by the CBDT!! The move also clear confusion about Filing of NIL TDS return and it is clear now that Tax Deductor are not required to file NIL Tds return.

1 Like

AVIJIT (CA FINALIST) (370 Points)
Replied 21 October 2013

If Company files the return mentioning therein only the transportation charges it paid along with Transporter's PAN (for which deduction of TDS is not required if PAN available), then it can file TDS Return although without any TDS Amt and thereby no fees of Rs.200/day is required. Now after filing these it files a revised return 3-4 days later mentioning all the details of TDS. What will be applicability then?