Tds rs.200/day

Fees and Penalty for Late Filing of TDS Returns are as follows:

Section 234E – Levy of Fees

• Failure to submit e-TDS Statement on time will result in fees on the deductor.
• If you delay or forget to file your e-TDS Statement, fees of Rs. 200 per day will be levied on the deductor, as long as TDS Statement is not filed.
• The levied amount of fee is not supposed to exceed the TDS deductibles.
• Prior to filing of TDS Statement such fee should be paid and it should be reflected in the TDS Statement.

Section 271H – Penalty

• Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,
  • If deductor exceeds one year time limit to File TDS Statement.
  • If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.

Hi

No penalty for NIL return & on its revision!!

Thanks//VaibhavJ

Sorry my friend but its not possible anymore. CBDT has now provied that  “TDS statement can not be filed without quoting any valid challan and deductee row. “  Which implies that Nil TDS return is no more permissible.

Earlier Asssessee use to submit NIL TDS return to avoid penalty for late Filing of TDS Return as they use to revise the return post filing of Nil Return. Now the same is not possible. A good move by the CBDT!! The move also clear confusion about Filing of NIL TDS return and it is clear now that Tax Deductor are not required to file NIL Tds return.

If Company files the return mentioning therein only the transportation charges it paid along with Transporter's PAN (for which deduction of TDS is not required if PAN available), then it can file TDS Return although without any TDS Amt and thereby no fees of Rs.200/day is required. Now after filing these it files a revised return 3-4 days later mentioning all the details of TDS. What will be applicability then?

Hi

In that case also there is no penalty.

Thanks//VaibhavJ

Good afternoon sir
when interest or penalty paid for late filing  is required to revised return for tds.......