Tds late filling fees u/s 154

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 April 2014 Dear sir,

We have paid the TDS on right time but the tds return is one month late & Traces has send me a intimation u/s154 for late filling levy fees . so just want to know how it is calculated .

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 April 2014 Please refer to section 234E.

Section 234E – Levy of Fees:

# Failure to submit e-TDS Statement on time will result in fees on the deductor.

# If you delay or forget to file your e-TDS Statement, fees of Rs. 200 per day will be levied on the deductor, as long as TDS Statement is not filed.

# The levied amount of fee is not supposed to exceed the TDS deductibles.

# Prior to filing of TDS Statement such fee should be paid and it should be reflected in the TDS Statement.

Applicable from 01.07.2012

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