Central Board of Direct Taxes has issued a detailed circular in the context of Late Fee, Levied under Section 234E of the Income Tax Act, 1961 vide Circular 07 of 2014 dated March 04, 2014 .

The circular provides for ex-post facto extension of the due dates of filing TDS/ TCS Statements, prescribed under section 200(3)/ proviso to section 206C(3) of the Income Tax Act read with Rule 31A/ 31AA of the Income Tax Rules 1962.

Accordingly, the due date of filing the statement is  extended to March 31, 2014 for the Government Deductors for the statements filed for:

  • 2nd to 4th Quarter of FY 2012-13
  • 1st to 3rd Quarter of FY 2013-14:

In view the above circular, please note the following important points:

  • This is only a one-time relaxation in the due date for filing TDS/ TCS statements
  • TDS/ TCS quarterly statements for all quarters up to Q3, 2014 may be filed without any further delay.
  • Any further delay after April 1, 2014 in filing the statements for these quarters of the aforesaid Financial Years will attract Late Filing Levy u/s 234E of Rupees two hundred for every day during which the failure continues.

Things to be done by PAOs/ DDOs:

  • PAOs  to file 24G statements at the earliest, if not already done, to facilitate the Government deductors with timely provision of BIN for filing of their TDS statements.
  • DDOs  to quote correct BIN while filing the statements.

Late filing of TDS statements also 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.

You are accordingly advised to file TDS Statements and also get Registered on TRACES Portal, if not done already.

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  1. jaswinder singh says:

    i give TDS statement to his C.A timely for Quater 2 & 3 for the year 2013-14. when we give form 16 to his C.A on month may 2014 ,then we notice due to mistake of C.A Quater 2 & 3 not file by my CA. Then my C.A file above TDS on month mid of june 2014 . but july 2014 we recevied notice form income tax pay late filling fees Rs 14000 & 16200 Gross late filling fees 30200. so i Request to govt. to no late filling fees charge every year 30 june . after this date charge late filling fees . because every DDO give form 16 on moth of MAY & june

  2. Surendra Mehta,Advocate says:

    By this circular the gvernment has given amnesty to one class of deductors i.e. givernment deductors but no such expost facto extention of of time is granted to other class of deductors. This is hostile discremination between deductors ans deductors.I have taken this ground in writ petition filed before the Hon’ble Rajasthan High Courtn Jodhpur.

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