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Daily Penalty on Late TDS Return

Income Tax Department issue a notice towards Late Penalty of Rs. 200 (daily) will be liable on TDS Returns filing after 15th July 2012. The notice iffective from 1st July 2012, if you file your TDS Return after 15th July 2012 then you must paid Rs. 200 as late fees for one day, or if you are filing two days late then you must pay Rs. 400. TDS Return will not accepted without Late payment fees Challans. This law is circulated under section 234-E of Income Tax Act. 

So file your TDS Return before 15th July 2012 & avoid penalty.

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