Tds return query

TDS 236 views 2 replies

if tds return is filed but "processed with default" , then whether penalty is applicable?

Replies (2)
Yes may be.... Please check justification report
Penalty under section 271H can be levied if the deducto files an incorrect TDS return. In other words, minimum penalty of Rs. 10,000 and maximum penalty of upto Rs. 1,00,000 can be levied if the deductor files an incorrect TDS return.
in following two cases the taxpayer can get relief from penalty under section 271H:
Under section 273A(4) the Principal Commissioner of Income-tax or Commissioner of Income-tax has power to waive or reduce the penalty levied under the Income-tax Act. Penalty can be waived or reduced by the Commissioner of Income-tax if the conditions specified in section 273A(4) in this regard are satisfied.


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