Penalty u/s 271 C

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2010 Dear Sir

I miss to deduct the TDS of 194 C in 3rd Qrt, but in imedetely deducted the TDS in 4th qtr and deposited to Deptt. with interest.
But Department demand the penalty u/s 271 C
Please advice me how can i remove the penalty,
Beacuse i deduct the TDS on same F.Y and deposited in same F.Y with interest.
Please ref andy case.

Thanks

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 April 2010 DEPARTMENT CAN NOT DEMAND PENALTY STRAIGHTAWAY THEY MUST GIVE YOU A RESONABLE OPPURTUNITY TO PREDENT YOUR CASE. USUALY A LETTER IS SENT TO ASSESSEE ERQUIRING HIM TO SHOW CAUSE WHY A PENALTY U/S 271 C SHOULD NOT BE INITIATED AGAINST YOU. IF SUCH IS THE CASE WITH YOU WRITE A PROPER REPLY ACCEPTING YOUR MISTAKE AND INFOEMING HIM THAT YOU RECTIFIED YOUR MISTAKE BY PAYMENT OF YDS ALONG WITH INTEERST.

BEST OF LUCK.

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