LATE FEES / PANELTY ON LATE FILLING OF RETURN FOR THE F.Y. 2008-09
This query is : Resolved
Nishant Gandhi
(Querist)
31 January 2023
Please let me know any late fee or panelty applicable for late filling of return of Qtr 4 of F.Y. 2008-09
Expert please advise as I have received one notice from department.
Expert please advise as I have received one notice from department.
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
"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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