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Tds

This query is : Resolved 

12 July 2012 Dear Sir,

One of our client was not filed the E-TDS return from 2009-10.
Can we file the ETDS return for the same period now?
Is there any penalty for the same?


13 July 2012 As per section 272A(2), a penalty of Rs. 100 per day during which the failure continues will be charged upon him. But the penalty amount shall not exceed the amount of tax deductible or collectible.

So, if your client has not yet furnished his E-TDS return, the failure is continuing and will increase by day-to-day. Pls advice him to file the return.

This provision of penalty will not be applicable from 01/07/2012.


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