Penalty on filing late tds return

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Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2016 Dear Sir
Plz tell me how much penalty will be levied on filing late TDS return,

Regards
Shahil kumar

CA SUNIL K GARG

CA SUNIL K GARG (Expert)

28 October 2016 Penalty for late filing of TDS return: Penalty (Sec 234E): Deductor will be liable to pay way of fee Rs.200 per day till the failure to pay TDS continues. However penalty should not exceed the amount of TDS for which statement was required to be filed.

Sandeep Dharar

Sandeep Dharar (Expert)

28 October 2016 As per section 271 H, where a person fails to file the statement of tax deducted/collect at source i.e. TDS/TCS return on or before the due dates prescribed in this regard, then assessing officer may direct such person to pay penalty under section 271H. Minimum penalty can be levied of Rs. 10,000 which can go upto Rs. 1,00,000. Penalty under section 271H will be in addition to late filing fees prescribed under section 234E

So Penalty may b asked by the Assessing Officer, but u must have to pay the late filing fees which is Rs. 200/- per day upto the date of filing.

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