Late Filing of TDS Returns -Fees and Penalty

Fees and Penalty for Late Filing of TDS Returns are as follows:

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.

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.