Implications of Non/Late filing of TDS Statements has been given below:
For Tax payers: Non/ Late etds filing results into the TDS Credit not being available to the deductees (employees / vendors) for claiming the amount of tax already deducted from the payments made to them besides generating correct TDS Certificates for them.
For Deductors: In case of default on account of Non / late etds filing, a fee shall also be levied on the deductor u/s 234E of the IT Act which reads as under: Where a person fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.
Yes it is right. The amount of Rs.200 per day will be calculated from the due date of filing to date of filing.
Due date 15 October,2015
Actual date of filing 5 Nov.2015
No. of days of delay = 21
Therefore fee u/s 234E = 200*21 = 4200