The Last date of TDS Return filing for Quarter 1 of Fin. Year 2015-16 is 15th July, 2015. After that your TDS Return comes under Late Filing. In that case you may punishable as Fees and Penalty for Late Filing of TDS Returns. Therefore dont delayed filing of TDS Returns for Fin. Year 2015-16. The details for Quarter-I Procedure are as under:
With the introduction of Section 234E, there is now a provision of stringent penalties for delayed filing of TDS returns.
- 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.
Fees and Penalty for Late Filing of TDS Returns of Fin. Year 2015-16 for Quarter-I are as follows:
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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