What are the consequences of not downloading TDS Certificates from TRACES for both salary and non-salary TDS Returns filed for all quarters of a financial year?

please, revert the penalty and / or prosecutions provisions. late fines and compounding may also please be replied back.

Dear Shravan,

Penalty for delay in furnishing TDS certificates can be levied u/s 272A(2), which is Rs.100 per day during which default continues. However penalty cannot exceed the amount of TDS.

Prosecution can be initiated in case of non-payment of penalty u/s 276C(2). Yes, compounding is available in this case.

Kind Regards
TaxReply.com 

IS THE PENALTY OF RS. 100 PER DAY IS PER TDS CERTIFICATE OR PER BULK FILE DOWNLOAD FOR THE QUARTER?

Dear Shravan,

In our opinion, it should be per bulk file / section ( e.g. 16, 16A ) and not per individual TDS certificate.

If you have any question, Pl post the same.

Kind Regards
TaxReply.com

THANKS A TON!