Delay in tds return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2012 whether fee of Rs.200/day due to delay in submission of return is also payable for return for the period of Jan-Mar'2012 or not ?

CA Rahul Gupta

CA Rahul Gupta (Expert)
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01 August 2012 There is penalty of Rs 100/- per day upto 30th June 2012

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2012 Sir as per provisions of Sec.207 of the income tax act “In case TDS/TCS statement is furnished after due date, a fee of Rs.200 per day of delay shall be payable before furnishing such statement”

Guest

Guest (Expert)

01 August 2012 Penalty of Rs. 200/- per day is applicable from period commencing from 01.07.2012.

It is not applicable in your case.

Thanks

CA Rahul Gupta

CA Rahul Gupta (Expert)
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01 August 2012 Sec 207 is for payment of Advance Tax. Sec 207 does not relate to furnish the TDS return

CA Rahul Gupta

CA Rahul Gupta (Expert)
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01 August 2012 I agree with above expert

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