TDS Late filing fees of 24Q
This query is : Resolved
01 July 2021
What will be the late filing fees of TDS Return 24Q of Q1 FY2020-21. if TDS has been deposited before due date i.e 07-07-2020 and there are no dues.
01 July 2021
Late filing fee will be Rs.200 per each day of default from the due date subject to a maximum of TDS amount.
For example- Let us assume TDS amount was Rs.10,000 and return will be filed on 01.07.2021
No of days of default- 335 days*Rs.200 per day of default=Rs.67,000/- but it is subject to a maximum of Rs.10,000/-, which is the TDS amount. Hence late fee in said case is Rs.10,000/-
For example- Let us assume TDS amount was Rs.10,000 and return will be filed on 01.07.2021
No of days of default- 335 days*Rs.200 per day of default=Rs.67,000/- but it is subject to a maximum of Rs.10,000/-, which is the TDS amount. Hence late fee in said case is Rs.10,000/-
01 July 2021
In case i have already deposited 10000 before due date of June 2020 which was 07.07.2020.
Am i still liable to pay that penalty amount
Am i still liable to pay that penalty amount
01 July 2021
Late fee has nothing to do with payment of TDS on time. It is for late filing of TDS return. Even if the TDS remittances are made on time, if the return is not filed within the due date, then late fee (as explained above) is payable.
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