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Volume - 29
November 2021

Penalty for late filing of TDS returns

Any person required to deduct TDS are mandatorily to file a quarterly return under section 206 of the Income Tax Act, 1961 (The time limits for filing Quarterly returns have been specified in  ). The return specifies. The return specifies the name of deductee, amount of payment and TDS deducted thereon for the period of reporting.

As per section 234E, if a person fails to file the TDS/TCS return on or before the due date, it is liable to pay a late fee of Rs.200/- per day for the failure period. The amount of late fees shall not exceed the amount of TDS. The TDS/TCS return cannot be filed without payment of late filing fees, if applicable.

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