Section 234E

Consequences of Non Payment of TDS/TCS & Non filing of TDS/TCS Returns

Income Tax - Note 1. Where the Person responsible for deducting tax, fails to do so, then he shall be deemed to be assessee in default. Note 2. As per Section 221, Penalty shall not be charged, until AO is satisfied that, default was for good and sufficient reasons. Section Nature of default Consequences 271C Fails to deduct […]...

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Fees & Penalty for late / Non filing of TDS Return

Income Tax - No filing or Late filing of TDS returns or TDS statement shall invite 2 penal consequence 1.Fee for late filing U/s 234E and 2. Penalty for late filing or Non filing of TDS statement U/s 271H....

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Late fees under section 234E for default in furnishing TDS/TCS statements

Income Tax - Tax deductor and the tax collector is liable to furnish required quarterly statements (returns) under the Income Tax Act. In case of default in furnishing the said statements, late fees will be payable under section 234E of the Income Tax Act. The current article briefly explains the provisions of such late fees payable under section [&he...

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KNOW – Interest, Late Fees & Penalty under TDS PROVISION

Income Tax - DID you KNOW – Interest, Late Fees and Penalty under TDS PROVISION? Here is attached summary file that will help you to solve your problem related default made in TDS that will result in to LATE fees under section 234E, Interest and Penalty under TDS provision. Interest, Late Fees and Penalty under TDS provision  This […]...

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TDS Certificates – Detailed Discussion

Income Tax - As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the deductor. Now if we focus on the word Valid TDS Certificate, it means Form 16/ Form 16A issued by authenticated authority. As on the current date the TRACES have the authorisation […]...

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6 Suggestions for Amendments in Income Tax Act by BCAS

Income Tax - Bombay Chartered Accountants' Society has made a Representation on 'Suggestions for Amendments in the Income Tax Act', on 24th May, 2019, to the Joint Secretary TPL, Central Board of Direct Taxes, Ministry of Finance, Government of India....

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Reduce fee u/s. 234E from Rs.200/- per day to Rs.100/- per day

Income Tax - RECOMMENDATION FOR REDUCING THE FEE UNDER SECTION 234E FOR DEFAULT IN FURNISHING STATEMENTS OF TDS AND TCS FROM RS.200/- PER DAY TO RS.100/- PER DAY The levy of mandatory fee u/s. 234E at the rate of Rs.200/- per day for default in furnishing of Statements of TDS u/s. 200(3) and TCS u/s. 206C(3) has been […]...

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Incomplete TDS certificates issued by deductor delaying Income tax refunds

Income Tax - Many Taxpayers had a tough time getting a refund of the tax deducted against his fixed deposits with public sector banks, as the tax deduction at source (TDS) certificates issued to them by the banks did not mention there permanent account number (PAN). Depositors of banks and post offices — especially pensioners — are put to a lot o...

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Section 234E Late Fee leviable for TDS Default Post 01-06-2015 Valid

Indiasoft Technologies Pvt. Ltd. Vs ACIT, CPC-TDS (ITAT Pune) - Provisions of section 234E of the Act are substantive in nature and the mechanism for computing the late fee was provided by the Parliament only w.e.f. 01.06.2015. Therefore, late fees u/s 234E of the Act can be levied only prospectively w.e.f. 01.06.2015....

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No Section 234E late filing fees for inadvertent wrong TDS Statement filing

Sh. Gurpreet Singh Vs ACIT (ITAT Chandigarh) - Sh. Gurpreet Singh Vs ACIT (ITAT Chandigarh) ITAT held that where the lapse came about due to a mere technical error, like the one in the present case, i.e., inadvertent wrong filing of TDS Statement, i.e., in Form No. 26QB, rather than in the applicable Form No. 27Q, there is no case for levy of [&...

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Late fee u/s 234E for delay in filing TDS return applicable only from 01.06.2015

Karnataka Grameena Bank Vs ACIT (ITAT Bangalore) - ITAT Bangalore held that any ambiguity in a taxing statute should ensure the benefit of the subject/ assessee. Accordingly, the taxing provision of late fee in respect of late filing of TDS return came into force from 01.06.2015. Hence, late fees u/s 234E cannot be levied before 01.06.2015....

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No late fees under section 234 E of IT Act,1961 on TDS default before 01/06/2015

Shimas Network Pvt. Ltd. Vs CIT (ITAT Bangalore) - Fee u/s. 234E for filing TDS returns belatedly could not be levied prior to 01/06/2015 as there was no machinery provision of sec. 200A ....

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Late fee u/s 234E for delay filing of TDS return not leviable prior to 01.06.2015

Thomas Abraham Vs ITO (ITAT Bangalore) - Held that late fee u/s 234E for delayed filing of return of TDS not leviable while processing a return of TDS for the assessment years prior to 1.6.2015....

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Suggest Situation justifying waiver of Section 234E fee : CBDT

F. No. 275/27/2013-IT (B) - (02/08/2016) - The Board is examining the desirability and expediency of prescribing situation/circumstances under which levy of fee under Section 234E may cause genuine hardship to the taxpayers, so as to prescribe guidelines for waiver of such fees by virtue of the powers of the Board under Section 119(2)(a) of ...

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CBDT extends due of TDS/TCS statement for Govt. deductees – No Refund of Fees Paid U/s. 234E

Circular No. 07/2014 - Income Tax - (04/03/2014) - CBDT Circular No. 07/2014 All Chief Commissioners of Income-tax All Directors General of Income-tax Sub: Ex-post facto extension of due date for filing TDS/TCS statements for FYs 2012-13 and 2013-14 – regarding The Central Board of Direct Taxes ('the Board') has received several petitions f...

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Tax audit & ROI due date extended to 31.10.2013 for A.Y. 2013-14

Order under Section 119 - F. No. 225/117/ 2013/ ITA.II - (24/10/2013) - In exercise of powers conferred under section 119 of the Income tax Act, 1961, the Central Board of direct Taxes, in continuation to order u/s 119 dated 26.09.2013 in F. No. 225/117/2013/ITA.II, hereby directs that in cases where the ‘due date’ of furnishing reports of audit and corresponding in...

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How to Calculate TDS on Salary – AY 2013-14 / FY 2012-13

Circular No. 8/2012-Income Tax - (05/10/2012) - Circular no. 8/2012-Income Tax The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head Salaries during the financial year 2012-13 and explains certain related provisions of the Income-tax Act, 1961 (hereinafter the Act) and Income-tax ...

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Recent Posts in "Section 234E"

Section 234E Late Fee leviable for TDS Default Post 01-06-2015 Valid

Indiasoft Technologies Pvt. Ltd. Vs ACIT, CPC-TDS (ITAT Pune)

Provisions of section 234E of the Act are substantive in nature and the mechanism for computing the late fee was provided by the Parliament only w.e.f. 01.06.2015. Therefore, late fees u/s 234E of the Act can be levied only prospectively w.e.f. 01.06.2015....

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No Section 234E late filing fees for inadvertent wrong TDS Statement filing

Sh. Gurpreet Singh Vs ACIT (ITAT Chandigarh)

Sh. Gurpreet Singh Vs ACIT (ITAT Chandigarh) ITAT held that where the lapse came about due to a mere technical error, like the one in the present case, i.e., inadvertent wrong filing of TDS Statement, i.e., in Form No. 26QB, rather than in the applicable Form No. 27Q, there is no case for levy of […]...

Read More

Late fee u/s 234E for delay in filing TDS return applicable only from 01.06.2015

Karnataka Grameena Bank Vs ACIT (ITAT Bangalore)

ITAT Bangalore held that any ambiguity in a taxing statute should ensure the benefit of the subject/ assessee. Accordingly, the taxing provision of late fee in respect of late filing of TDS return came into force from 01.06.2015. Hence, late fees u/s 234E cannot be levied before 01.06.2015....

Read More

No late fees under section 234 E of IT Act,1961 on TDS default before 01/06/2015

Shimas Network Pvt. Ltd. Vs CIT (ITAT Bangalore)

Fee u/s. 234E for filing TDS returns belatedly could not be levied prior to 01/06/2015 as there was no machinery provision of sec. 200A ....

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Late fee u/s 234E for delay filing of TDS return not leviable prior to 01.06.2015

Thomas Abraham Vs ITO (ITAT Bangalore)

Held that late fee u/s 234E for delayed filing of return of TDS not leviable while processing a return of TDS for the assessment years prior to 1.6.2015....

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Consequences of Non Payment of TDS/TCS & Non filing of TDS/TCS Returns

Note 1. Where the Person responsible for deducting tax, fails to do so, then he shall be deemed to be assessee in default. Note 2. As per Section 221, Penalty shall not be charged, until AO is satisfied that, default was for good and sufficient reasons. Section Nature of default Consequences 271C Fails to deduct […]...

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Posted Under: Income Tax |

Section 234E is prospective and apply to tax period after 1.6.2015

Shivansh Infraestate Pvt. Ltd Vs (ITAT Lucknow)

Shivansh Infraestate Pvt. Ltd Vs (ITAT Lucknow) ITAT find that it is undisputed fact that the assessee has been charged late fee u/s. 234E for various returns filed in the Form-26Q for late filing of the statements. These cases relate to Assessment Year 2014-15. The various Hon’ble High Courts including the Hon’ble Karnataka H...

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Order under Section 234E of Income Tax Act is appealable: ITAT Pune

Commandant S.R.P.F. GR-VII Welfare Fund Vs ACIT, CPC-TDS (ITAT Pune)

As per section 246A of the Act, the assessee has a right to file an appeal before CIT(A) against the intimation under section 200A of Act....

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Late Filing of Appeal – Scarcity of Advisors not valid reason for SBI

State Bank of India Vs ACIT (ITAT Pune)

State Bank of India Vs ACIT (ITAT Pune) We find that the assessee had deducted TDS as per rates prescribed by the Act and the same was deposited in Central Government account, but with a delay in filing the TDS statement as required under law. For such failure the respondent-revenue levied late fee u/s. 234E […]...

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Section 234E Late fee is automatic and not discretionary

Gangamai College of Engineering Vs ACIT (ITAT Pune)

Held that when there is a delay, a late fee u/s 234E and 200A of the Act is automatic and there is no discretion not to levy late fees with the TDS Officer....

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