Tds default notices u/s 234 e
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 December 2013
FRIENDS
I HAVE FILED E TDS RETURNS LATELY AND RECEIVED LOT OF MESSAGES FROM TDSCPC
IN THAT MENTIONED HUGE PENALTIES U/S 234 E FOR LATE FILLING OF E TDS RETURNS
IT IS COMPULSORY TO PAY OR ANY WAIVER IS THERE TO NOT TO PAY
LET ME SEND THE DETAILS REGARDING THIS TOPIC
THIS WILL USEFUL TO LOT TDS DEFAULTERS
REGARDS
PHANI
I HAVE FILED E TDS RETURNS LATELY AND RECEIVED LOT OF MESSAGES FROM TDSCPC
IN THAT MENTIONED HUGE PENALTIES U/S 234 E FOR LATE FILLING OF E TDS RETURNS
IT IS COMPULSORY TO PAY OR ANY WAIVER IS THERE TO NOT TO PAY
LET ME SEND THE DETAILS REGARDING THIS TOPIC
THIS WILL USEFUL TO LOT TDS DEFAULTERS
REGARDS
PHANI
CA PARAS BAFNA
(Expert)
15 December 2013
The late fee has to be compulsorily paid.
.
In my view, the provisions of Section 234E are too harsh and unreasonable. Waiver is not possible as on to date.
.
.
In my view, the provisions of Section 234E are too harsh and unreasonable. Waiver is not possible as on to date.
.
Nikhil Kaushik
(Expert)
15 December 2013
as bafna ji said, 234e is mandatory in nature.
However, in cases of undue financial hardship, you can file application under section 119 for reduction or waiver of interest payable. The power to reduce the interest penalty is given to CCIT vide notification No. F. No. 400/234/95-IT (B) dated 23-5-1996.
You may refer: 2005 142 TAXMAN 241 All
You shall have to prove the financial hardship though.
However, in cases of undue financial hardship, you can file application under section 119 for reduction or waiver of interest payable. The power to reduce the interest penalty is given to CCIT vide notification No. F. No. 400/234/95-IT (B) dated 23-5-1996.
You may refer: 2005 142 TAXMAN 241 All
You shall have to prove the financial hardship though.
15 December 2013
yes agreed its mandatory ,,,there is no escape route in case of sec 234E.
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