TDS Late filing fees of 24Q

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This discussion clarifies the late filing fees for TDS return 24Q for Q1 FY2020-21. Even if TDS is deposited before the due date, a late filing fee of Rs. 200 per day of default applies if the return is submitted after the deadline. This fee is capped at the total TDS amount due. The penalty is specifically for late submission of the return, not for late TDS payment.

CA Akshay Jangid

CA Akshay Jangid (Querist)

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.

Deepa B

Deepa B (Expert)

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/-

CA Akshay Jangid

CA Akshay Jangid (Querist)

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

CMA Poornima Madhava

CMA Poornima Madhava (Expert)

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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