TDS
This query is : Resolved
16 June 2010
If TDS is deposited in late with interest, can AO levy penalty u/s 221? If yes how much? Is there any scope to save penalty? I mean to say can the AO waive the penalty?
16 June 2010
YES AO CAN LEVY PENALTY TO THE EXTENT OF AMOUNT OF TAX INVOLVED. IF SUFFICIENT REASON IS GIVEN HE CAN WAIVE THE PENALTY.
16 June 2010
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