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Change in law for levying fees/penalty on late filing of TDS returns w.e.f. 01.07.2012

Previous Law i.e. upto 30.06.2012
Section 272A - Late fees of Rs.100 per day after due date (subject to maximum of amount of TDS/TCS).

New Law w.e.f. 01.07.2012
Section 234E - Late fees of Rs.200 per day after due date (subject to maximum of amount of TDS/TCS).
                                                                   and
Section 271H - Penalty of Rs.10,000 to 1,00,000, if return filed after one year from due date. 

 

ID: 86 | Views: 979 | Date: 04-05-2013| Posted By:

CA Mohit Jain



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