Penalty late tax return on filing after due date

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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.


SectionSection 234E – FeeSection 271H – Penalty
W.e.f.1-Jul-121-Jul-12
When leviableIf the TDS return is not filed within due dateIf incorrect information is furnished in return or if return is not filed within one year from the due date
MinimumRs. 200 per day till the return is filed10,000/-
MaximumTDS amount1,00,000/-
Whether mandatoryYes, to be deposited before filing of such TDS returnNo