31 January 2023
Yes. "If a person fails to furnish the quarterly statements in due time, he shall be liable to pay by way of penalty under section 272A(2)(k), a sum which shall be Rs. 100 for every day during which the failure continues. However, this sum shall not exceed the amount of tax which was deductible at source." Finally, there are case laws in favor of assessee as : https://taxguru.in/income-tax/section-272a2k-penalty-merely-delay-filing-quarterly-tds-statement.html
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