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Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2013 what is the penalty to late filing tds return A.Y2012-13& 13-14
tds amount is nil (tax deposited)

Ajay Mishra

Ajay Mishra (Expert)

29 October 2013 Go to the following link:

TDS Penalty/Interest

https://www.caclubindia.com/articles/a-day-s-delay-in-tds-remittance-interest-upto-3--6580.asp#.Ui20kBenyVE

Ganeshbabu K

Ganeshbabu K (Expert)

29 October 2013 Fees and Penalty for Late Filing of TDS Returns are as follows:

Section 234E – Levy of Fees

1)Failure to submit e-TDS Statement on time will result in fees on the deductor.

2)If you delay or forget to file your e-TDS Statement, fees of Rs. 200 per day will be levied on the deductor, as long as TDS Statement is not filed.

3)The levied amount of fee is not supposed to exceed the TDS deductibles.

4)Prior to filing of TDS Statement such fee should be paid and it should be reflected in the TDS Statement.

Hence you may not get 234E fee,as it is limited to zero(tds deducted)

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Section 271H – Penalty EFFECIVE FROM 01.07.2012

1)Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,

2)If deductor exceeds one year time limit to File TDS Statement.

3)If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.
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FROM 01.07.2012 271H made effective hence in my opinion you may get penalty under 271H for defaults after it s applicability

Ganeshbabu K

Ganeshbabu K (Expert)

29 October 2013 Also note now NIL TDS RETURN IS NOT MANDATORY-HOWEVER THERE ARE EXCEPTIONS TO GET MORE IDEA ON THIS REFER BELOW
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NIL TDS RETURN NOT MANDATORY BUT,,THAT IS ONLY FOR PURE NIL TDS RETURN,,

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1)we all knows that TIN-NSDL has released new FVU 4.0 applicable w.e.f. from 01.10.2013 under which it has been specified that
"ETS RETURN HAVING NIL CHALLAN WITH OUT DEDUCTEE DETAILS CANNOT BE FILED"Means ETDS return not possible only for "PURE NIL TDS RETURN"
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2)let me clear,we can say NIL tds returns is two types,
(i)**NIL TDS RETURN WHICH have only NIL AMOUNT CHALLAN AND NIL DEDUCTEE DETAILS(Which can be called as PURE NIL TDS RETURN-which is not mandatory to file)
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(ii)NIL TDS RETURN HAVING NIL AMOUNT CHALLAN AND HAVING DEDUCTEE DETAILS ALONG WITH REMARKS " tag A,B,T,Z,Y."

**HOPE ALL ARE AWARE OF TAGS MENTIONED IN ABOVE POINT
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3)KINDLY REFER TO MY ARTICLE FROM BELOW LINK WHICH CLEARLY CLARIFIES THE NECESSITY FOR FILING TDS RETURNS WITH NIL DEDUCTION ON PAYMENT TO TRANSPORTERS
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WHICH GOES WITH TAG "T"
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YOU CAN ALSO REFER TO INCOME TAX RULE 31A,but well clarified in my article
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https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp#.Umo9GfmnqQA

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