Dear professional Friends,
i m very confused about difference between section 234e and section 271h. Anybody who know the correct answer, Please tell me....thanks
1 Replies
Rachit
(Analyst)
(913 Points)
Replied 13 November 2013
Sec. 234E prescribes fees for default in furnishing TDS statements (Rs. 200/- per day) Levy u/s.234E of the Income Tax Act, 1961 is a statutory levy and cannot be waived.
Sec. 271H prescribes penalty for failure to furnish TDS statements. It is discretionary in nature. (Sec. 271H(3). It can be waived.
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