Penalty for not downloading tds certificate

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 November 2013 Is there any penalty if we do not downloading TDS certificate available on Traces Website within 15days? Is it compulsory to issue certificate within 15 days to all the deductees??? Failing which will be considered as a default and penalty will be imposed???

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 November 2013 If the assessee doesn't provide the Form 16A within the time limit provided, then he shall be violating Rule 26A and Rule 31 of the Income-tax Rules 1962.

Further, non-issuance of Form 16 under 203 shall be liable for penalty at the rate Rs 100 each day under Section 272A.

Now with everything online, you cannot even back date the certificates. So it is very much advisable that you atleast download it the moment it is made available by traces.

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Querist : Anonymous

Querist : Anonymous (Querist)

23 November 2013 is it applicable to all the assesses of only for company assessee????

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 November 2013 it is applicable to all the deductors without any exception.

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