Liability in case of Late filing of TDS Return
This query is : Resolved
09 December 2009
Dear Experts,
Pls let me know whether any interest or penalty is to be paid in case I have not filled my TDs return in time?
Pls note, TDs is deducted & deposited in Govt Account in time.
Only delay is in filing of TDS return.
Regards,
Varsha
Pls let me know whether any interest or penalty is to be paid in case I have not filled my TDs return in time?
Pls note, TDs is deducted & deposited in Govt Account in time.
Only delay is in filing of TDS return.
Regards,
Varsha
09 December 2009
Rs. 100/- per day of delay
09 December 2009
At the time of filing of TDS return; you need not pay the penalty of Rs.100/- per day.
Any peanlty if levied by the Income-Tax Department; first of all; a show cause notice will be issued.
If there are sufficient grounds due to which you could not file the TDS Return; then penalty proceedings may be dropped.
Ca Rakhecha
Surat
Any peanlty if levied by the Income-Tax Department; first of all; a show cause notice will be issued.
If there are sufficient grounds due to which you could not file the TDS Return; then penalty proceedings may be dropped.
Ca Rakhecha
Surat
10 December 2009
And what in case I need to file a correction return?
What is the time limit for such returns?
What is the time limit for such returns?
10 December 2009
Act is silent about revise TDS return so you should revise immediately as soon you come to know that correction is required.
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