Quick Summary
Penalty for failure to furnish statements Section 271H of the Act inter alia relates to penalty for failure to file Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) returns/ statements within the due date. Sub-section (3) of section 271H of the Act states that no penalty shall be levied if the person proves that after paying TDS/ TCS along with fees and interest to the credit of the Central Government, the person has filed the TDS/TCS statement before the expiry of period of one ye
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1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
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FAQ :
From 1st April 2025, there will be a one-month grace period for filing TDS/TCS statements to avoid penalties under Section 271H.
This amendment will take effect from the 1st day of April, 2025.
Section 271H of the Act deals with penalties for failing to file Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) returns or statements by the due date.
To avoid penalty, individuals must pay the outstanding TDS/TCS along with any applicable fees and interest to the Central Government, and then file the TDS/TCS statement within one month from the prescribed due date.
The change is proposed to ensure better compliance and to reduce the inconvenience faced by deductees/collectees when TDS/TCS statements are not furnished on time by deductors/collectors.
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