Fees and Penalty for Late Filing of TDS Returns

Fees and Penalty for Late Filing of TDS Returns -------------------------------------------------------------------------------- Section 234E - Levy of Fees • Failure to submit e-TDS Statement on time will result in fees on the deductor. • If you delay or forget to file your e-TDS Statement, fees of Rs. 200 per day will be levied on the deductor, as long as TDS Statement is not filed. • The levied amount of fee is not supposed to exceed the TDS deductibles. • Prior to filing of TDS Statement such fee should be paid and it should be reflected in the TDS Statement. Section 271H – Penalty • Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees, >  If deductor exceeds one year time limit to File TDS Statement. >  If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.

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