TDS
This query is : Resolved
13 September 2020
Sir I have deducted Tds on Salary Q 4 FY 19-20 but not paid and not file TDS return?
Tds amount is Rs.2000.00
What is the penalty and interest in this case?
Please reply
Tds amount is Rs.2000.00
What is the penalty and interest in this case?
Please reply
14 September 2020
Sir I have deducted Tds on Salary Q 4 FY 19-20 but not paid and not file TDS return? Tds amount is Rs.2000.00 What is the penalty and interest in this case? Please reply
27 July 2025
Here's what happens if TDS on salary for Q4 FY 19-20 (₹2000) is deducted but not paid and the TDS return is not filed:
### Penalty and Interest:
1. **Interest under Section 201(1A):**
* Interest @ 1% per month or part of month on the TDS amount from the date it was deductible to the date it is actually paid.
* Plus, interest @ 1.5% per month or part of month from the due date of payment to actual payment date.
2. **Penalty under Section 271C:**
* Penalty up to the amount of TDS not deposited (₹2000 in your case) may be levied by the Assessing Officer.
3. **Late filing fee under Section 234E:**
* Rs. 200 per day of delay in filing TDS return, subject to maximum of TDS amount (₹2000).
### Summary:
* You owe interest on ₹2000 till payment date.
* You may have to pay penalty equal to ₹2000.
* Late filing fees can be Rs. 200 per day, capped at ₹2000.
---
### What to do:
* Deposit the TDS amount immediately.
* File the TDS return as soon as possible to reduce penalties.
* If you have reasonable cause, you can request waiver or reduction of penalty from tax authorities.
If you want, I can help you with the procedure to pay and file the return. Would you like that?
### Penalty and Interest:
1. **Interest under Section 201(1A):**
* Interest @ 1% per month or part of month on the TDS amount from the date it was deductible to the date it is actually paid.
* Plus, interest @ 1.5% per month or part of month from the due date of payment to actual payment date.
2. **Penalty under Section 271C:**
* Penalty up to the amount of TDS not deposited (₹2000 in your case) may be levied by the Assessing Officer.
3. **Late filing fee under Section 234E:**
* Rs. 200 per day of delay in filing TDS return, subject to maximum of TDS amount (₹2000).
### Summary:
* You owe interest on ₹2000 till payment date.
* You may have to pay penalty equal to ₹2000.
* Late filing fees can be Rs. 200 per day, capped at ₹2000.
---
### What to do:
* Deposit the TDS amount immediately.
* File the TDS return as soon as possible to reduce penalties.
* If you have reasonable cause, you can request waiver or reduction of penalty from tax authorities.
If you want, I can help you with the procedure to pay and file the return. Would you like that?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
