Tds 234e

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shivakumar (Querist)
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31 January 2014 My company is loss position. we can't get the money from others. we have to pay tds more than 100000/- from Q2 for the FY 2013-14, for Reducing of 234E section purpose shall i Pay any one challana for 26Q and 1 challan for 24Q and filing e-tds for Q2, and same for Q3. after getting the money we rectify the Q2, Q3 that time we will pay all tds challans with 1.5% interest. shall i do like this? is there any problems? If we doing like this we have to pay interest. no need to pay 200/- per day penalty.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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31 January 2014 First of all yu should understand what is 234E

234E. (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.

This Section talks about the deliver of the statement and is not talking of making the payment.

So you file the forms on due dates and if you are making the payment then it is fine both company and IT department shall be at ease

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