Businesses especially small and medium scale has been badly hit by demand notices from Income Tax Department for payment of fees for late filing of TDS returns. Actually with effect from July 1, 2012, the IT Department has made it mandatory to pay late fee of Rs. 200 per day since the due date, in […]
Tag: Challan No. 281
What should One do on receipt of demand notice u/s 234E Late Filing? The default amount will have to be deposited through challan no. 281. Download conso file from TRACES for filing correction and tag the paid challan without adding any deductee records. While filing correction, fill up the fee amount in Fee column in […]
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 […]