Tds return

This query is : Resolved

naresh gupta (Querist)
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24 January 2015 the situation is

-i deposited the tax_(tds) on 15th (last date of filing return).
-thus interest is due. i have to deposit two months interest for delay of 7 days.
-now further problem is - i cannot file tds return on 15th itself. because it will be reflected in my tax a/c with TIN on , say, 18 th only. thus penalty for about 4 days is also payable by me.

this is a capital punishment to me for a delay of 7 days.

i felt cheated ?????????

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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24 January 2015 This is why TDS is called 'Tedious'.

But then you can not just deduct the TDS and keep it pending for payment for so long. Interest and penalty has been introduced so that the TDS of deductee is deposited in due time and deductee gets due credit of the TDS deducted from you. So you have to meet the deadlines.

However, Penalty u/s 234E is sub judice. For details see below link:

https://www.caclubindia.com/experts/penalty-u-s-234e-1823439.asp#.VMOX1v6UfUs

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