29 June 2013
I HAVE FILED MY TDS RETURN FOR 31/3/2013 on 28/6/2013. I HAVE RECEIVED 15g (8 nos)during qE 31-3-13.MY TDS RETURN IS NIL. AM I LIABLE TO PAY PANALTY & HOW MUCH IF YES. I HAVE DEPOSITED 15G & 15H TO IT OFFICE ON 5/4/2013. MY CA IS TELLING I AM LIABLE TO PAY PENALTY SINCE I HAVE MADE ENTRY OF FORM 15G & 15H received on 31/3/2013 for non deduction of tds.WHAT SHOULD I DO? How much penalty should i have to pay in case of penalty?
29 June 2013
Your CA must have told about the amount of penalty, if not ask him the amount and show your readiness to pay. . The maximum penalty which can be levied is up to the amount of tax deductible. . Since 15G&H were duly deposited by you,for all such cases, tax deductible comes to 0, which is the maximum penalty also. Can you pay Rs. 0 as penalty ? No. .
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