Penalty for late filing of etds

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aditya gupta (Querist)

12 October 2013 Sir,
If an assesse had filled their first TDS return after due date, because he had not deducted any TDS on payments. he was in this impression that he is not liable for deduction and deposition of TDS. but later he deducted TDS and filed their return after due date. now he has been rewarded with a notice with a heavy penalty for late filing of TDS.
with having this remark in mind, that this was his first TDS return, is any exemption or waiver of penalty available in IT Act. if yes , so please guide and mention the section and circulars for references.

@VaibhavJ

@VaibhavJ (Expert)

12 October 2013 Hi Aditya,

Can you please share under which section penalty is levied.

If the deductor is charged penalty amount u/s 234E then this penalty has to be paid to the Income Tax Department using Challan No. 281, and this penalty cannot be waived under any circumstance.

Failure to submit e-TDS Statement on time will result in fees on the deductor.

If you delay or forget to file your e-TDS Statement, fees of Rs. 200 per day will be levied on the deductor, as long as TDS Statement is not filed.

The levied amount of fee is not supposed to exceed the TDS deductibles.

Thanks//VaibahvJ

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