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Penalty levied on non-filing of tds return

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This query is : Resolved

TARIQUE RIZVI (Querist)

30 January 2018 200 per day is normal penalty. If the TDS Amount is just Rs 5,000, TDS has been paid but inadvertently TDS Return has not been filed and a period of more than a year has passed. Whether the income tax department will recover from the assessee a sum of Rs 72,000 per year. TDS Amount is just Rs 5,000 and penalty Rs 72,000. Please guide me and oblige.

CA Suresh Jain

CA Suresh Jain (Expert)

30 January 2018 The penalty leviable under the relevant provisions of the Income Tax act is limited to the amount of TDS and therefore, the penalty in this case shall be restricted to Rs. 5,000.00

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

31 January 2018 Even though Late fee u/s 234E Rs.200/- per day subject to maximum to TDS amount.so since TDS for that quarter or 234E Subjects to Maximum TDS of Rs.5000/-

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