Assessee fail to deduct tds on late payment charges and in next year
he has paid along with interest. AO has issuied notice u/s 271C leving penalty for failure to deduct tds.
Pls give sample reply for droping penalty u/s 271C
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sample reply for droping penalty u/s 271C
Replies (2)
As a basic norm, penalties needn’t be imposed if the concerned person states a reasonable cause for the default.
The following reasons when penalty under Section 271C is not imposed.
Committing a Bona Fide default. Bona Fide mistake is a type of mistake which wasn’t intentional on the part of the assessee.
The following reasons when penalty under Section 271C is not imposed.
Committing a Bona Fide default. Bona Fide mistake is a type of mistake which wasn’t intentional on the part of the assessee.
good clarification and information
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