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Section 234 e


sanjay kulkarni (Finance Manager)     24 March 2015

sanjay kulkarni
Finance Manager 
 28 points

| My Other Post

Can someone update me with latest announcement/decision about section 234 E of income tax act.

Stay order was given by high court, but i donot know what happend then and now i have got notice to pay fees under this section. How shall i deal with this situation?

 

Regards,

sanjay Kulkarni.

avater

CA HAYEDAR SHAIKH (Practice )     24 March 2015

CA HAYEDAR SHAIKH
Practice  
 61 likes  602 points

View Profile | My Other Post

The late filing of TDS returns by the deductor causes inconvenience to everyone and s. 234E levies a fee to regularize the said late filing. The fee is not in the guise of a tax nor is it onerous. The levy is constitutionally valid.

Section 234E of the Income-tax Act, 1961 inserted by the Finance Act, 2012 provides for levy of a fee of Rs. 200/- for each day’s delay in filing the statement of Tax Deducted at Source (TDS) or Tax Collected at Source (TCS). A Writ Petition to challenge the validity of s. 234E has been filed in the Bombay High Court.

 

To know more click on the following -

https://itatonline.org/archives/rashmikant-kundalia-vs-uoi-bombay-high-court-s-234e-the-late-filing-of-tds-returns-by-the-deductor-causes-inconvenience-to-everyone-and-s-234e-levies-a-fee-to-regularize-the-said-late-filing-the-f/#top

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