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Non-filling of tds return by deductor

TDS 644 views 1 replies

Hello,

 

What if the deductor has not filled the TDS return and the same is not reflected in 26AS.

 

The contention of Income Tax Department is that unless the deductor files the return, the dedutee can not claim the amount.

Moreover, the deductor is not ready to file TDS return.

 

Replies (1)

Penalty of Rs. 100 per day will be levied on the deductor for delay in filing the return. This penalty has been increased to Rs. 200 per day in respect of TDS liable to be deducted on and after 01.07.2012.

 

Moreover, As per Sec 271H(1), newly inserted by latesh budget,  if the statement is not issued by the deductor within one year from the prescribed due date, then penalty of Rs. 10,000 which may extend to Rs. 1,00,000 will be levied.

So it is left ion the deductor which option he will prefer........"not filing the return forever and give penalty or submit the retuen timely.......


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