Web21 Mar 2024 · The details of TDS on property purchase are outlined in Section 194-IA of the Income Tax Act. Here are some details of this section. If you are a property buyer, you must deduct 1% TDS from the total sales consideration. No TDS is required if the sales consideration is less than ₹50 lakhs. In the event you are paying for the property purchase ... WebFees for the delay in furnishing the statements: (refer section 234E of Income Tax Act) Effective from 1st July 2012, any delay in furnishing the eTDS statement will result in a mandatory fee of Rs. 200 per day until the filing of the return. The total fees should not exceed the total amount of TDS deducted for the quarter.
Penalty for Late Filing of Income Tax Return - ClearTax
Web10 Nov 2024 · Types of Interest. There are 3 different interest under section 234 : Delay in filing of Tax Returns – Section 234A. Delay in payment of Advance Tax – Section 234B. Deferred Payment of Advance Tax – Section 234C. ClearTax will walk you through the interest and the calculations in a 3-part series. Web20 Dec 2024 · Section 234E of the Act imposes a per diem 'fee' upon a person for failure to deliver to the prescribed Income Tax Authority or to a person authorized by such authority, a statement relating to deduction of tax at source, after paying the tax so deducted to the credit of the Central Government, within the time prescribed under Section 200(3) or … jonas richel
Fees under Section 234E for delay in filing of TDS statements …
Web28 Oct 2013 · The finance act, 2012 added a new section 234E which specifies for fee of Rs. 200 per day for delay in furnishing of quarterly tds statements and is applicable from 1st July, 2012. Further it has been mentioned that it will not be possible to upload the return without payment of fee u/s 234E. Web24 Oct 2024 · As per the Income Tax provisions relating to Section 234E, a late fee of a maximum of Rs. 200 per day is levied by the Income Tax Department to be paid to the … Webfees under Section 234E of the Act for delayed filing of the TDS statement. The Commissioner of Income-tax (Appeal) [CIT(A)] upheld the order of the AO. _____ 2 1 Sibia Healthcare Private Limited v. DCIT (ITA No.90/Asr /2015, assessment year 2013-14) – Taxsutra.com Tribunal’s ruling After amendment to Section 200A of the Act, with jonas richert