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Challan for paymnet of penalty under section 234e

TDS 7097 views 1 replies

Please guide me that in which challan we should pay penalty Under Section 234E? If Return is late as partner is out of India for 10 Days than also penalty is to be paid ?

 

Replies (1)

Dear frnd,  if you file late income tax return, there is consequential penalty in form of interest u/s 234A if there was tax due as per return. Similar in line, in the same chapter, a new section 234E has been proposed to be effective from 1st July 2012, with heading “Levy of fee in certain case “to provide that if TDS statement (return) as per time prescribed, deductor will be liable to pay by way of fee of Rs 200 per day till the failure to file TDS statement continues. However, the total fee cannot exceed the amount of TDS deductible from which statement was required to be filed.
“234E. (1) Without prejudice to the provisions of the Act, where a person fails to deliver or cause to be delivered a statement within the time prescribed in subsection (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.
(2) The amount of fee referred to in sub-section (1) shall not exceed the amount of tax deductible or collectible, as the case may be.” challan is attached here.


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