Section 271h

This query is : Resolved

Guest

Guest (Querist)

14 June 2012 good morning experts,
sir i want to discuss about new section 271 h and 234e about late return of tds return. sir if i will late deposit my return than i will deposit 200 per day panelty u/s 234e. but sir in section 271 h in which case i will paid panelty 10000 upto 1 lakh.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 June 2012 Section 234E provides for payment of FEES (you can take it as fine) for late filing of TDS return.

Section 271H provides for penalty. Penalty will be levied if the TDS return is filed after 1 year from the due date.

Guest

Guest (Querist)

14 June 2012 thank you and sir new section 271aab.if we hide any income from income tax dept. than if A.O will check than any disclosed income found by A.Officer.than we will paid panelty u\s 271aab. sir why this section introduced

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 June 2012 271AAB delas with penalty in case of search.

Earlier, Section 271AAA dealt with penalty in case of searc and provided for penalty @ 10% if the assessee admitted the undisclosed income.

Now Section 271AAB has been introduced which will be applicable in case of search conducted after 1 July, 2012.

It has a wider scope than Section 271AAA.

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