From 1-7-2012, there is no penalty u/s 272A(2)(k) for late filing of TDS statements.
Penalty u/s 271H ( 10000 to 0ne lakh) is attracted for the cases of delay of more than one year from due date for furnishing TDS statements
221 penalty is for not depositing tax( including TDS)
271C penalty is for not making TDS
276B prosecution is for not depositing TDS
So, fee u/s 234E does not flash with any other penal provision. hence in my view it is valid.
such tough meassures are needed to enforce deductors to file TDS statements within time, as it they needed for allowing TDS credit to payees.
krnarayana, banaglore
Penalty u/s 271H ( 10000 to 0ne lakh) is attracted for the cases of delay of more than one year from due date for furnishing TDS statements
221 penalty is for not depositing tax( including TDS)
271C penalty is for not making TDS
276B prosecution is for not depositing TDS
So, fee u/s 234E does not flash with any other penal provision. hence in my view it is valid.
such tough meassures are needed to enforce deductors to file TDS statements within time, as it they needed for allowing TDS credit to payees.
krnarayana, banaglore