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Section 234 e

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sanjay kulkarni

Finance Manager

21 Points Posted on 24 March 2015

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.

Replies (1)

CA HAYEDAR SHAIKH

Practice

452 Points Posted on 24 March 2015

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