Notice u/s. 272a(2)(k) for dealy in filing tds returns ??

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CA Abhishek Singh (Querist)
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29 October 2012 Hello everyone,

one of my client is a co-op housing society. it has filed belated TDS returns for fy 10-11 & 11-12.

total Tax deducted is Rs.5000/- which has been paid along with interest.

show cause notice is received by the assessee regarding why penalty should not be levied rs.100 per day of default subject to max tds rs.5000/-

reason for late filing is that secretary chairman were not aware about the due date and consultant also not advised them properly.

my question :
Can penalty be waived off by the commissioner on the above ground ??

CA Lavneet Relan

CA Lavneet Relan (Expert)
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29 October 2012 according to me : not knowing the law or no correct advise from consultant is not a remidy as law is for everyone and it aplies to everyone... so penalty cann't be waived on this ground.

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Guest

Guest (Expert)

29 October 2012 your client has paid TDS with interest
so you can argue that now there is no loss to revenue as all the tax along with interest paid
and your client is not a business entity so on that ground you might be given waiver of penalty

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V K Bajaj

V K Bajaj (Expert)
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29 October 2012 Mr Abhishek,

Both the grounds stated by you would not be acceptable to Authorities.

Commissioner can waive off the penalty provided some strong logic, facts and evidence is there.

contact@vkbajaj.co.in

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