TDSMAN Blog

Smart & Easy TDS Software for Preparing TDS Returns

TDSMAN Blog - Smart & Easy TDS Software for Preparing TDS Returns

Last date of filing of TDS/TCS returns for Q2 of FY:2014-15 – 15th October 2014

Due date for filing of TDS/TCS returns for Quarter 2 of FY:2014-15 is 15th October 2014.

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 etds filing, such fee should be paid and it should be reflected in the TDS Statement.

Click here for more details. 

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Levy u/s 234E of the Income Tax Act, 1961 is a statutory levy and cannot be waived

If the deductor is charged penalty amount u/s 234E then this penalty has to be paid to the Income Tax Department using Challan No. 281, and this penalty cannot be waived under any circumstance.

What is Section 234E ?

Section 234E – Levy of Fees:

  • Failure to submit TDS return on time will result in fees on the deductor.
  • If you delay or forget to file your TDS return, fees of Rs. 200 per day will be levied on the deductor, as long as TDS return is not filed.
  • The levied amount of fee is not supposed to exceed the TDS deductibles.
  • Prior to TDS filing such fee should be paid and it should be reflected in the TDS return.


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