What is the penalty for late tds deduction

TDS 454 views 3 replies

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

Replies (3)

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 ?? 


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