tds return

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priti (Querist)
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15 July 2011 Respected Sir,
I want to know whether if there is delay of one or two days while filing tds return (24Q & 26Q) then will it create any problem for company.

do we have to penalty for late filing alongwith return or when query comes

Thank you

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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15 July 2011 When the TDS return is filed after the due date, you attract penalty under section 272A(2)(1).
The penalty shall be Rs. 100, for each day of delay, subject to the maxium of tax deducted.
But before passing any order imposing penalty, the department is bound to provide us an opportunity to explain our position.

so you can go ahead filing the return & respond with penalty or reply...whenever a query will be raised by the IT deptt.

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