Worse to worst consequences of late filing of tds return

This query is : Resolved

TARIQUE RIZVI (Querist)
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16 September 2014 Respected Sir,

Ours is a private limited company and we have provided a sum of Rs 3,00,000/= on account of salary to director as on 31st March 2014 in our books of accounts. But inadvertently we forgot to deduct tds and pay tds and nor the tds return has been uploaded.

As on 15th September, 2014 we have paid tds of Rs 10,300 + Intt thereupon of Rs 927/=. Now today we will upload the tds return. The due date for uploading the tds return was 31st May 2014 and now the said tds return has been delayed by 108 days till today from the due date of 31st May 2014.

Please let me know the worse to worst consequences of late filing of the said tds return. If there is the provision of penalty in this case, can the penalty be waived off.

What to do or what to do not ? Please guide me and oblige as I am mentally upset.

Yours truly tarique rizvi
982 1630 130

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 September 2014 the interest for non-deduction at 1% pm...plus Rs 200 per day liability for late filing of the return under 234E.

in worse case 7 years rigorous jail term under section 276B

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 September 2014 the interest for non-deduction at 1% pm...plus Rs 200 per day liability for late filing of the return under 234E.

in worse case 7 years rigorous jail term under section 276B

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