WE HAVE RECEIVED THE NOTICE FROM TRACES WHERE ITS SHOWS THAT INTEREST ON SHORT DEDUCTION, INTEREST ON LATE PAYMENT AND LATE FEES AMOUNT,
SO QUE. IS IF WE PAID INTEREST AMOUNT ONLY THEN CAN LATE FEES WILL BE WAIVED OFF??
OR THERE IS ANY WAY TO WAIVE OFF THIS AMOUNT.
NOTE- WE ARE PRIMARY SCHOOL AND TRUST.
First, You need to check previous TDS Returns, which period belongs to this notice. Due to wrong PAN or some calculation, It is arisen by the Department. However, It can be minimize through revise returns.
There are no way about waive off late fee, You have to deposit these amounts after finalizing the same.
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