Non filinf of tds return fot qe 31/3/2013

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

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?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.
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The maximum penalty which can be levied is up to the amount of tax deductible.
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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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