Demand for late filling fee a/s 234e

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Sanoj Kr. Sharma (Querist)
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18 November 2013 if company had problem in cash flow from 2012-13. hence the company pay TDS amt late and also make return for 3rd and 4th qtr of 2012-13 in sep 2013 and oct 2013.

the company cash flow is going worst in 2013-14, and company decided to close down the company in 2015 after get collection from debtors to pay some liability of company.

now the income tax deptt. send the demand for late filing of return for 2nd, 3rd, and 4th qtr in nov 2013. the amt in aggregate above Rs. 1.3 Lakhs.

in this type of case how the company ask for wipe off the demand from the deptt or get escape from this trouble.

please help in this regards. its very urgent to me.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 November 2013 please be advised 234E is compensatory in nature and cannot be waived off.

Sanoj Kr. Sharma

Sanoj Kr. Sharma (Querist)
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19 November 2013 If company neither have sufficient cash nor generates more cash from business to pay late fee. whatever money comes in that is payable to creditors only. 'than'

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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19 November 2013 please refer :

Notification : [F. No. 212/495/92-IT(A-II)], dated 2-5-1994.

Notification No. : F. No. 400/234/95-IT(B), dated 23-5-1996.

if you are covered under the provisions of these cbdt notification, you can hope for some relief.

regards