I have received demand notice of 46000/- for single quater for late filing of TDS Return. Penalty u/s 234E for late filing of TDS Return can be waived off?
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Tds demand notice
Replies (7)
No it is compulsory payment
Please give example of provision.
Thanks
penalty u/s 234E can be waived by CIT on the application made by the assessee
If the deductor is charged penalty amount u/s 234E then this penalty has to be paid to theIncome Tax Department using Challan No. 281, and this penalty cannot be waived under any circumstance.
What should One do on receipt of demand notice u/s 234E Late Filing?
The default amount will have to be deposited through challan no. 281. Download conso file from TRACES for filing correction and tag the paid challan without adding any deductee records. While filing correction, fill up the fee amount in ‘Fee’ column in challan detail.
Note: There is no need to send any communication to TDSCPC separately.
Late filing correction in RPUFor example: Due date of filling of TDS statement form 26Q for Quarter 4 is 15th May , however statement 26Q has been filed with the delay of two(02) days. So deductor is required to quote late filing fee of Rs. 400.00( Rs. 200.00*2) as given below:
The “column” number for quoting of “fee” form wise is as under:
|
Form Type |
Fee Column |
| 24Q | 305 |
| 26Q | 404 |
| 27Q | 706 |
| 27EQ | 656 |
First of all It's not a penalty but it's a fees for late filling tds statement. Penalty can be waived but fees can't.
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