{"id":1934,"date":"2019-09-24T17:24:45","date_gmt":"2019-09-24T11:54:45","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=1934"},"modified":"2019-09-24T17:26:42","modified_gmt":"2019-09-24T11:56:42","slug":"interest-and-penalty-on-tds-default","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/","title":{"rendered":"Interest and Penalty on TDS Default"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#TDS\" title=\"TDS\">TDS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#Default_in_respect_to_TDS\" title=\"Default in respect to TDS\">Default in respect to TDS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#Interest_liability_under_section_201\" title=\"Interest liability under section 201\">Interest liability under section 201<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#In_the_case_of_non-deduction_of_TDS\" title=\"In the case of non-deduction of TDS\">In the case of non-deduction of TDS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#In_the_case_of_Tax_deducted_but_not_paid\" title=\"In the case of Tax deducted but not paid\">In the case of Tax deducted but not paid<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#Non-applicability_of_Section-201\" title=\"Non-applicability of Section-201\">Non-applicability of Section-201<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#The_due_date_for_Payment_of_TDS_Return\" title=\"The due date for Payment of TDS Return\">The due date for Payment of TDS Return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#The_due_date_for_filing_of_TDS_Return\" title=\"The due date for filing of TDS Return\">The due date for filing of TDS Return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#The_penalty_that_can_be_levied_with_respect_to_TDS\" title=\"The penalty that can be levied with respect to TDS\">The penalty that can be levied with respect to TDS<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#Penalty_for_non-deduction_or_non-payment_of_Tds\" title=\"Penalty for non-deduction or non-payment of Tds\">Penalty for non-deduction or non-payment of Tds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#Penalty_for_Late_filing_TDS\" title=\"Penalty for Late filing TDS\">Penalty for Late filing TDS<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"TDS\"><\/span><strong>TDS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Tax Deducted Source (TDS) is a concept of deducting tax at the very source of income with the intention of curbing tax evasion and maintaining a steady flow of income to the government.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The deductee can get the credit of the tax so deducted on the basis of form 26AS (annual consolidated credit statement) or<a href=\"https:\/\/aktassociates.com\/blog\/tds-certificate\/\"> TDS Certificate.<\/a><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1922 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/TDS-penalty-and-interest-for-late-payment-2.png\" alt=\"TDS penalty and interest for late payment\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/TDS-penalty-and-interest-for-late-payment-2.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/TDS-penalty-and-interest-for-late-payment-2-300x171.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/TDS-penalty-and-interest-for-late-payment-2-20x11.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Default_in_respect_to_TDS\"><\/span><strong>Default in respect to TDS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As per provisions of Income Tax Act,1961<\/span><span style=\"font-weight: 400;\">, Any person who made the default in Tds provisions shall be liable for the interest as defined under section 201. The type of defaults is as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The person <\/span><span style=\"font-weight: 400;\">who<\/span><span style=\"font-weight: 400;\"> did not deduct tax on the whole or any part of the payment on which tax liable to be deducted<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The person who fails to remit or pay the tax, which was deducted as per TDS provisions.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Interest_liability_under_section_201\"><\/span>Interest liability under section 201<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"In_the_case_of_non-deduction_of_TDS\"><\/span><strong>In the case of non-deduction of TDS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Where an assessee liable to deduct TDS, but not deducted tax on the whole or any part of the amount, such assessee in default is\u00a0 liable to pay simple interest under section 201 at the rate of <\/span>1% for every month or part of the month<span style=\"font-weight: 400;\"> on the amount of such tax <\/span>from the date on which tax was deductible to the date on which such tax was actually deducted<span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"In_the_case_of_Tax_deducted_but_not_paid\"><\/span><strong>In the case of Tax deducted but not paid<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Where an assessee liable to deduct TDS, has deducted the tax on the amount, But, the tax has not been paid, then such assessee in default is\u00a0 liable to pay simple interest under section 201 at the rate of <\/span>1.5% for every month or part of the month<span style=\"font-weight: 400;\"> on the amount of such tax from the date on which tax was <\/span><span style=\"font-weight: 400;\">deducted<\/span><span style=\"font-weight: 400;\"> to the date on which such tax was actually paid.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Non-applicability_of_Section-201\"><\/span><strong>Non-applicability of Section-201<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The assessee who failed to deduct tax on the whole or any part of the amount credited or paid to the resident payee or recipient was not deemed to be an assessee in default under section-201 if the following conditions have been satisfied.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The resident payee or recipient should furnish his return of Income under section-139 of the <a href=\"https:\/\/aktassociates.com\/blog\/income-tax-return-filing\/\">Income-tax<\/a>, 1961.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The resident payee or recipient should have taken such credit or payment as an income for the computation of income in such return of income filed under sec- 139.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The resident payee or recipient has to pay the tax due in respect of the income declared by him in such return of income filed under sec-139 of the Income-tax act.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As we already know that the assessee shall be liable for the interest if he has not paid the TDS or does not file the TDS return within the due date. Now let&#8217;s discuss the due dates of TDS<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_due_date_for_Payment_of_TDS_Return\"><\/span><b>The due date for Payment of TDS Return<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As per provisions of Income Tax Act, 1961, The Assessee shall have to deposit the TDS within 7 days from the end of the month in which the TDS has been deducted except for the month of march where assessee would require to deposit TDS till 31st March.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_due_date_for_filing_of_TDS_Return\"><\/span><b>The due date for filing of TDS Return<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As per Rule 31A, The TDS return shall be required to file on a quarterly basis. The due dates for the filing of TDS return shall be as follows:\u00a0<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Ending date of the Quarter of the Financial Year<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Due Date<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> June<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> July of the respective financial year<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> September<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> October of the respective financial year<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> December<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> January of the respective financial year<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> March<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> May of the financial year immediately subsequent to the financial year in which deduction was made<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"The_penalty_that_can_be_levied_with_respect_to_TDS\"><\/span><b>The penalty that can be levied with respect to TDS<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>The Penalty that can be levied in respect of TDS shall be as follows<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Penalty in respect to non-deduction of TDS or non-payment of TDS<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Penalty in respect to late filing of TDS<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Penalty_for_non-deduction_or_non-payment_of_Tds\"><\/span><strong>Penalty for non-deduction or non-payment of Tds<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">As per the provision of section-271C of the<a href=\"https:\/\/aktassociates.com\/blog\/income-tax-rules-for-nri\/\"> Income Tax Act<\/a>,1961 there shall be levied an penalty of an amount equal to the tax amount which is failed to deduct or pay.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Penalty_for_Late_filing_TDS\"><\/span><strong>Penalty for Late filing TDS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Penalty under section-234E<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Penalty under section-271H<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/aktassociates.com\/business-compliance\/tax-compliance\/tds-return-filing\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1923 aligncenter\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/Get-TDS-Return-filed.png\" alt=\"Get TDS Return filed\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/Get-TDS-Return-filed.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/Get-TDS-Return-filed-300x64.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/09\/Get-TDS-Return-filed-20x4.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p><strong>The penalty under section 234E<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">As per the provision of section-234E, a penalty of Rs.200\/- per day shall be levied till the date of filing Tds statements for default in furnishing the statements.<\/span><\/p>\n<p><strong>The penalty under section 271H<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">As per the provision of section-271H, a penalty shall be levied if the assessee fails to file the TDS Statement within the due date or incorrect filing of TDS return.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The penalty under sec-271H shall be a minimum of Rs.10,000\/- which may be extended to Rs.1,00,000\/-.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Note:<\/strong> No penalty shall be levied under section 271H, if the tax deducted or collected is paid to the credit of the government along with the fee and Interest (if any).and the Tds return should have been filed before the expiry of the period of one year from the respective due date.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TDS Tax Deducted Source (TDS) is a concept of deducting tax at the very source of income with the intention &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Interest and Penalty on TDS Default\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/interest-and-penalty-on-tds-default\/#more-1934\">Read more<span class=\"screen-reader-text\">Interest and Penalty on TDS Default<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":1921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u00a0Interest and Penalty on TDS Default AKT Associates<\/title>\n<meta name=\"description\" content=\"Any person who deducts TDS shall have to comply with the provisions of the Income Tax Act, 1961. 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