Fee for default in furnishing statements (Section 234E) | IT Circular 1/2019

Fee for default in furnishing statements (Section 234E) | IT Circular 1/2019

Fee for default in furnishing statements (Section 234E):

If a person fails to deliver or caused to be delivered a statement within the time prescribed in section 200(3) in respect of tax deducted at source [on or after 1.07.2012] he shall be liable to pay, by way of fee a sum of Rs. 200 for every day during which the failure continues. However, the amount of such fee shall not exceed the amount of tax which was deductible at source.This fee is mandatory in nature
and to be paid before furnishing of such statement.
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4.9.5 Rectification of mistake in filing TDS Statement: 

A DDO can also file a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered earlier.

4.9.6 Penalty for failure in furnishing statements or furnishing incorrect information (section 271H):

If a person fails to deliver or caused to be delivered a statement within the time prescribed in section 200(3) or furnishes an incorrect statement, in respect of tax deducted at source [on or after 1.07.2012], he shall be liable to pay, by way of penalty a sum which shall not be less than Rs. 10,000/- but which may extend to Rs 1,00,000/-. However, the penalty shall not be levied if the person proves that after paying TDS with the fee and interest, if any, to the credit of Central Government, he had delivered such statement before the expiry of one year from the time prescribed for delivering the statement. 

4.9.7 At the time of preparing statements of tax deducted, the deductor is required to:
  • (i) mandatory quote his tax deduction and collection account number (TAN) in the statement;
  • (ii) mandatory quote his permanent account number (PAN) in the statement except in the case where the deductor is an office of the Government (including State Government). In case of Government deductors - "PANNOTREQD" to be quoted in the e-TDS statement;
  • (iii) mandatory quote of permanent account number PAN of all deductees;
  • (iv) furnish particulars of the tax paid to the Central Government including book identification number or challan identification number, as the case may be.
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  • (v) furnish particular of amounts paid or credited on which tax was not deducted in view of the issue of certificate of no deduction of tax u/s 197 by the assessing officer of the payee.

COMMENTS

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Param News: Central Government Employee News|Latest DOPT OM: Fee for default in furnishing statements (Section 234E) | IT Circular 1/2019
Fee for default in furnishing statements (Section 234E) | IT Circular 1/2019
Rectification of mistake in filing TDS Statement, Penalty for failure in furnishing statements or furnishing incorrect information (section 271H), section 200(3) liable to pay a sum of Rs. 200 for every day
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