TDS RETURN PER QTR/ YEARLY

Tds Return Per Qtr/ Yearly

Late Filing Fee (Sec 234E)

Under Section 234E, the person who is required to deduct/collect TDS/TCS will have to pay a fine of Rs 200 (two hundred) per day until the TDS return is filed. The deductor of TDS shall be liable to pay this for every day of delay until the fine amount is equal to the amount you are supposed to pay as TDS.

For example: Say that you have deducted TDS of Rs 5000 on 13th May 2023 and you file the return for Q1 on 17th November 2023 instead of the due date 31st July 2023.

The delay is 109 days counting from 1st August 2023 to 17th November 2023.

Then the calculation comes out to Rs 200 x 109 days = Rs 21,800, but since this amount is greater than TDS Rs 5000, you will have to pay only Rs 5000 as the late filing fee.

In addition to this, you also have to pay interest for delay in deposit of TDS which is covered in the next section.