The person forgot to file form 26QB, which causes interest and late fees u/s 200A, is their any remedy available or case law which defends the genuine case??????
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Quick Summary
This discussion addresses the consequences of forgetting to file Form 26QB, leading to interest and late fees under Section 200A. A user missed filing for a sale agreement dated November 26th, 2023, until January 22nd, 2024, and has now received an intimation for payment. Advice suggests immediate payment to avoid escalating charges, as interest is calculated daily. While specific remedies and case law are sought, the general consensus points towards prompt action to mitigate financial penalties.
Sale agreement on 26th November 2023 and filed 26QB on 22nd January 2024, successfully filed the form and generated 16B but received intimation u/s 200A to pay interest and late fees, should it be left as it is or should be paid?
Please make this payment ASAP. somehow, you should pay this. Don't be careless. penalty or interest will calculate on day wise. You will have to pay huge amount than your deducted amount.