Sec 234e, tds

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ARPIT NAGAR (Querist)
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08 December 2012 Can anyone Plz explain the sec 234e of tds with an example. The amount to be paid as penalty is limited only to the amount deducted as TDS or the challan amount paid including interest...for eg tds deducted is 2000 and the challan deposited is 2088. Is the penalty u/s 234e ,2000.

@VaibhavJ

@VaibhavJ (Expert)
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08 December 2012 Hi

Yes, its restricted to TDS amount, see extract of section:

234E. Fee for defaults in furnishing statements.—(1) Without prejudice to the provisions of the Act, where a person fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.

(2) The amount of fee referred to in sub-section (1) shall not exceed the amount of tax deductible or collectible, as the case may be.

(3) The amount of fee referred to in sub-section (1) shall be paid before delivering or causing to be delivered a statement in accordance with sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C.

(4) The provisions of this section shall apply to a statement referred to in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C which is to be delivered or caused to be delivered for tax deducted at source or tax collected at source, as the case may be, on or after the 1st day of July, 2012."

Thanks//Vaibhav
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@VaibhavJ

@VaibhavJ (Expert)
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08 December 2012 Thanks fo acknowledgement.

ARPIT NAGAR

ARPIT NAGAR (Querist)
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08 December 2012 thnks..@vaibhavj

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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08 December 2012 The amount of penalty is restricted to the amount of TDS and NOT the challan amount.

In your example penalty shall be restricted to Rs. 2,000

ARPIT NAGAR

ARPIT NAGAR (Querist)
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08 December 2012 thanx...siddhartha bhardwaj

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 December 2012 You are welcome. You should use the thanks button to convey your thanks.

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