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Tds declaration not given for nil return

Sandeep Dharar (Business ) (18797 Points)

22 November 2016

What if anyone had not submitted the declaration for non deduction of TDS at Traces portal?? Like if there is no TDS liability in Qtr2 for the Financial Year 2015-2016, and the assessee fails to declare the nil return at TDS portal. Is there any Penalty for that. Please reply ASAP...

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J. K. Ratan (Compliance Advisor) (794 Points)
Replied 22 November 2016

Dear sir

You need not to worry about it, As per section 234E of Income tax act 1961 late filing fee INR 200 per day shall be paid for not filing for TDS return subject to maximum tds amount.

As there was no any tds liability to deduct in that perticular quarter, the maximum late fee is INR 0. So need not to pay any late fee.

Suggestion :- File belated declaration for NIL tds Return