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Penalty for late deduction of tds

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(Querist)
25 April 2016 Sir,
My query is that a company deducted TDS on 31-3-2016 and paid to the government on 24-04-2016. The TDS deducted on 31-3-16 was to be deducted on 22-4-15. Late deduction interest @1%pm has been paid but is there any penalty for such late deduction.??
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Suresh Ramaswamy

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Suresh Ramaswamy (Expert)
25 April 2016 There is no penalty for late deposit of TDS if interest is paid. However, if the Department had detected the non-payment of TDS and issued notice for the same, penal provisions will apply.
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Abhishek Ranjan Singh

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Abhishek Ranjan Singh (Expert)
26 April 2016 There is no penalty for late TDS deduction and payment.No filing or late filing of statement of TDS / TDS returns shall invite penalty under section 271H.
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