Downloading of TDS Certificates from TRACES made mandatory:
Due Date for downloading and Penalty for non-compliance: Failure to comply with the provisions of the Act will attract penalty under the provisions of section 272A of the Act, a sum of one hundred rupees for every day during which the failure continues.
Can any one explain the practical procedures for above.
Assume party A ->Company(Dedudctor) & Party B firm (Payee for income taxable)
In this case, is company under a statutory obligation to download tds certificate & issue same to party B.What if party B is not available to collect it or party fails to download with in the timelimit.
What is the purpose of this.
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