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Whether Late fee on tds statement U/s 234E or interest U/s 201(1A) or late fee on income tax return U/s 234F or interest U/s 234A, 2134B, 234C be levied by TDS-CPC, Ghaziabad/Income Tax CPC Bengaluru?
Taxpayers faced a lot of problem last year and even pensioners/ senior citizens paid late fees on late filing of returns. With a view to make tax system taxpayers friendly and cooperative, the due date of 31st July should be changed to 31st December, every year. The coming central budget(on 5 July 2019) may consider the above mentioned problems.
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.
According to Section 234E of Income Tax Act, a fee for late / non filing of the TDS Return is leviable at the rate of Rs. 200 per day for the period of failure (Not more than the amount of TDS).
When TDS returns/statements had been filed by assessee for each quarter online and orders had been served upon assessee online for payment of the late fees, assessee was not justified in contending that it had not received any communication in respect of late fee imposed under section 234E neither any such communication came to the knowledge prior to the notice of outstanding demand issued by DCIT (TDS).
Irrespective of the period to which the quarterly return pertains, where the return is filed after 1.6.2015, the AO can levy fee under section 234E of the Act.
Assessee could not be held liable for levy of late filing charges under section 234E for the period prior to June, 2015 in the absence of amendment to section 200A, which was brought on Statute from 1-6-2015.
M/s. Terra Infra Development Limited Vs ITO (ITAT Hyderabad) Provisions for levy of fee in certain cases has been brought into the Statute book w.e.f. 1.7.2012, it has been brought under the purview of section 200A only w.e.f. 1.6.2015. Therefore, as rightly held by the Coordinate Bench in the case of M/s. Sonalac Paintings & […]
Origins Build-Tech Pvt Ltd Vs ACIT (ITAT Ahemdabad) adjustment in respect of levy of fees under section 234E was indeed beyond the scope of permissible adjustments contemplated under section 200A. This intimation is an appealable order under section 246A(a), and, therefore, the CIT(A) ought to have examined legality of the adjustment made under this intimation in […]
Origins Build-Tech Pvt Ltd Vs ACIT (ITAT Ahmedabad) Issue- The learned CIT(A)-8 is unjustified & erred in law by confirming the imposing of late filing levy by ACIT [CPC-TDS) of Rs.30800/- u/s 234E determined to be payable by processing TDS statement u/s 200A, without issuing show cause notice. The late fee u/s 234E is penal in nature […]
