Penalty for late filing of tds return

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This query is : Resolved

Krishan Kumar (Querist)

08 May 2012 Dear Sir,

Please advise me that there is any penalty for filing of late tds return

Best regards,
Krishan Kumar

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)

08 May 2012 As of now, there is a penalty of Rs. 100 per day, which is not necessarily imposed. Notice is raised but it can be waived. But, union budget 2012 imposed a late fees, which is mandatory, @ Rs. 200 per day of default.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)

08 May 2012 At persent, there is a penalty of Rs. 100 per day, but it can be waived if there is a genuine reason for not filing the return.
For the quarter ended 31/03/2012, the due date is 15/05/2012.

Gajjala Satheesh

Gajjala Satheesh (Expert)

29 January 2013 Sir,

We are paying the TDS on Rent for the month of Decemeber 2012. Is there any penalty for the late payment. We just started a Hotel and not paid for any month(i.e,. stated on December month 2012 only.

Plz give me advise.

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