CA Sandeep Kanoi
Income Tax Department has collected whooping Rs. 17497 crores as late filing fees for delayed filing of TDS/TCS quarterly return for the period from 01-04-2013 to 31-10-2014 i.e. in just 19 months.
In a reply to an application under RTI Act filed by CA Subin V R from Thrissur Income Tax Department has revealed the total amount collected under section 234E of the Income Tax Act in the financial year 2013-14 and from April 2014 to October 2014. As per the reply order dated 22-12-2014 the amount so collected is as under:
|Period||Count||Amount Collected in Rs. Crores|
|Financial Year 2013-14||186549||10134|
|April 2014 to October 2014||127839||7363|
It is to be noted that various High Court has already granted stay against Recovery of Late fees U/s. 234E for default in furnishing TDS/TCS Statements. Details of Such cases is as follows :-
Recently ICAI has in its pre-budget Memorandum requested government to Give Amnesty to TDS deductors from Fees under section 234E for defaults in respect of all TDS statements pertaining to FY 2012-13 and FY 2013-14 and also requested the time limit to file quarterly TDS return for non-government deductors be also increased to 30 days as available to the government deductors. But the government has not accepted the same. Read More-Give Amnesty to TDS deductors from Fees under section 234E – ICAI
So Section 234E Late Fees become a Milking Cow for the Government and there seems to be no possibility of it been taken back by the Government considering the Huge Revenue impact it may have.