Penalty and Late fee for TDS return filed after due date
Now, as per the amendments in Finance Act 2012, w.e.f 01-Jul-2012 section 272A is substituted by Section 271H and a new section 234E has been inserted. As per old section 272A of the Income tax Act, if the TDS return is not filed within due date, penalty is charged @ Rs. 100/- per day till the return is filed.
|Section||Section 234E – Fee||Section 271H – Penalty|
|When leviable||If the TDS return is not filed within due date||If incorrect information is furnished in return or if return is not filed within one year from the due date|
|Minimum||Rs. 200 per day till the return is filed||10,000/-|
|Whether mandatory||Yes, to be deposited before filing of such TDS return||No|