Dear Experts ,
Please advice me in this Problem.
One of our client is paying rent of ₹30,000/- a month and he failed to deduct TDS..He has deduted TDS for the whole year (April to january) from now on 06/02/2014 and he will pay the same on 07/03/2013.I am aware of the fact that he has to pay interest of 1 % for the late deduction .. But does he has to pay the penalty for late filing of quarterly returns also ??
Thanks in advance for your advice
There is a penal interest imposed when TDS has been deducted late and deposited late. If the TDS return is filed late, there is fine of Rs. 200/-per day for delay.
But in my case will both late deduction penal interest of 1 % and late filing will both be applied ??
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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