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Tds filling and penalty

TDS 650 views 2 replies

RAZORBALDE Films PvtLtd is a production House. IT deduct tds on the payment of creditors and also paid the deducted tds amount to the governament but not filling for the whole year 2011-12 so if  i fill tds retun in may so how much the penalty is to be charged for late filling?

 

Replies (2)

U/s 234 E.., mimimum 200 rs. per day and maximum TDS deductible for that revelant quarter

u/s 217 H.., minimum 10,000 and maximum 1,00,000 if the return is not filed within 1 year from which it has to be filed.

Hi...

As far as I know 234E is came into effect from 1.07.2012, which will be applicable for quarters after that comes into effect. It means it is applicable from Q2 of 2012-13.

It is not applicable for FY 2011-12.

and Penalty u/s 271H is not mandatory, it is required to pay only when you receive any notice from the concern AO.

You can file your returns now without paying any interest if you have paid all the TDS within the due dates.


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