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Tds

TDS 460 views 3 replies

Sir,

What is the rate of interest or penalty as on june 2013 - if tds deducted but not paid on time

                                                                                               AND TDS was suppose to be deducted but not deducted on time.

 

Secondly what is the interest or penalty for delayed filing of tds return online - as on june 2013

AND TDS return not filed at all for previous years

Pls clarify

Replies (3)

Interest-1%pm or part of a month from date it was to be deducted to the date when it was deducted

               1.5%pm or part of a month from date of deduction to the date on which TDS was deposited.

A new section ie section 234 E has been introduce which levy a fees of Rs 200 per day of delay but restricted to amount of TDS

The above section applicable from 1 st july 2012. and its prospectively applicable.

To the best of my knowledge the dept have not yet levied any interest or penalty for late filling of TDS Return as there was no provison exisiting before 1/7/12

 For  delay in payment of tds amount is same as mention by CA Kunal

 

Thank you

A new section ie section 234 E has been introduce which levy a fees of Rs 200 per day of delay but restricted to amount of TDS

The above section applicable from 1 st july 2012. and its prospectively applicable.

To the best of my knowledge the dept have not yet levied any interest or penalty for late filling of TDS Return as there was no provison exisiting before 1/7/12

 For  delay in payment of tds amount is same as mention by CA Kunal

 

Thank you


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