If I don't have a TAN no yet, what is the consequense of not depositing TDS after deducting TDS from the month of May'14 to Dec'14 and also not Filling of TDS Return for 1st & 2nd Quarter. Please help me in calculating Interest and panalty in the above circumstances.
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Consequense of non filling of tds return
Replies (4)
You will be liable to pay 1.5% interest p.m. of the amount of TDS for the period of default plus 200/- per day penalty for non filling of return from the due date till the date of filling.
Can't I take the plea that -If I Don't have a TAN no ,(although I had applied for it a few months ago) how can I deposit TDS or file TDS return. Please clearify my doubt.
Then either u r not empowered to deduct TDS since u don't have TAN.
U can do one thing deduct the whole amount of TDS in the 3rd quarter n take the plea that since TAN was obtained in 3 quarter, so the whole amount of TDS was deucted in 3 quarter.
Or pay the TDS deducted by u till date with interest n wait fr the proceedings initiation by department n there prove ur point.
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