How do I pay my 234E penalty Online?

Download the Conso File from Traces portal. In case of payment towards late filing fee, please Tag the challan towards the payment, in the “Fee” column” using RPU Ver. 3.8, mentioning appropriate amount in such column and validate to generate the FVU. Submit the Correction Statement at TIN Facilitation Centre.

How do I pay under section 234E?

How to pay Section 234E demand:

1. Download the Justification Report from TRACES portal to view your latest outstanding demand.
2. On downloading the Justification Report.
3. Download the Conso File from Traces portal.

Can penalty U S 234E be waived?

Late filing fee u/s 234E is a statutory provision and it cannot be waived. Therefore, deductors are advised to file TDS statements in time to avoid it.

How can I pay my penalty for late filing of income tax return online?

The maximum penalty is Rs. 10,000. If you file your ITR after the due date (30th Sep) but before 31 December, a penalty of Rs 5000 will be levied….To summarise the section 234F.

How do I pay my 234E late fee?

Correct answer : (a) Justification of correct answer : As per section 234E, a person who fails to file the TDS/TCS return on or before the due date prescribed in this regard is liable to pay a specific amount as late filing fees. Thus, option (a) is the correct option.

How do you pay interest on a late payment?

To calculate the interest due on a late payment, the amount of the debt should be multiplied by the number of days for which the payment is late, multiplied by daily late payment interest rate in operation on the date the payment became overdue.

What is late filing fee U S 234E?

Late filing fees under section 234E will be charged at Rs. 200 per day, thus for 50 days the late filing fees will come to Rs. 10,000. However, the late filing fees cannot exceed the amount of tax collected at source.

Is TDS return mandatory?

TDS return filing is compulsory for all the assessees who fall under the tax slab as prescribed by the Income Tax Department. It is compulsory to e-file the TDS returns and it can be done through the official Income Tax e-filing portal. It is mandatory that the TDS returns are submitted on time by the deductors.

What is late penalty for filing income tax?

Late-filing penalties can mount up at a rate of 5% of the amount due with your return for each month that you’re late. If you’re more than 60 days late, the minimum penalty is $100 or 100% of the tax due with the return, whichever is less. Filing for the extension wipes out the penalty.

What is fee under section 234E?

As per section 234E, where a person fails to file the TDS/TCS return on or before the due date prescribed in this regard, then he shall be liable to pay, by way of fee, a sum of Rs. 200 for every day during which the failure continues. The amount of late fees shall not exceed the amount of TDS.

Can I charge interest on money owed to me?

You have the right to charge interest on the money loaned as payment for tying your money up if payment terms are not met. State laws regulate the amount of interest that you can charge when your customers do not pay their invoices according to the terms of your agreement.

Which is due date and penalty under section 234e?

As per the provisions of Section 234E, is the late /non-filing fees required to be paid towards the delay in submission of quarterly TDS/TCS statement to the Income Tax Department. As per Section 200 (3), the quarterly return to be filed after paying the TDS return within the prescribed time.

Can a late fee be waived under 234e?

Now the important Question, Whether the Late fees charged under 234E can be waived ? It is heard that due to large number of default in filling TDS return statement, Income Tax may soften their stand and may waive the late fee for a specific period. But NOT GUARANTEED. There are some legal constraint in Charging the Penalty Under Section 234E, i.e.

What do you need to know about SEC 234e?

What is Sec 234E, what is the late fees, what will be the due dates for TDS Return/statement, what are the examples of Sec.234E, what will be the maximum Late fees, What is the effect of Sec 200A (1) In this article, we will discuss about…

When to pay late fee you / s 234e for E-TDs return?

Now if due to mistake any late fee U/s 234E is paid then refund will be granted of such excess late fee. It means that late fees u/s 234E is not payable before 31/05/2015 ? CA. NAGENDRA GUPTA ,106, Runwal Heights Commercial Complex, L.B.S. Marg, Opp. Nirmal Lifestyle Mall, Mulund (West), Mumbai – 400 080 ,Phone :Off -2560 0650 ,Mobile- 92246 68893