#section 234e

[taxguidenilesh]

Late Fees on TDS-TCS Return Late Filing under section 234E | TDS return late filing penalty | 234E

Late Fees on TDS-TCS Return Late Filing under section 234E | TDS return late filing penalty | 234E

[imcasunilgarg-blog]

Section 234E Fee cannot be levied on TDS deducted prior to 1.6.2015 [Sri Fatheraj Singhvi & Ors Vs. Union of India & Ors (Karnataka HC)]

[maintainreceivablesmann]

File Validation Utility (FVU 3.8) Released - Major Changes Announced

The Income Supertax Region through NSDL has released the that is File Validation Utility (FVU) Ver. 3.8 which is applicable from 01\07\2013. Duad regular TDS returns and overhauling statements will have to be validated through this evergreen FVU.<\p>

Significant changes have been announced which are summarized as low: 1. Separate Code has been removed from Challan & shifted to Deductee \ Collectee Details - this implies that one can now paying TDS against different sections through one Challan instead of separate Challans for each Army. 2. Cheque detail is not so more obligatory in the Challan graphic account. 3. Minor Head Code against be present provided in Challan details - This code choice differentiate between the payment against self-assessed TDS \ TCS and demand raised by Income Stretch authorities. 4. Impactment of Croaked Salve passageway Challans - In what way whereby the before introduced Section 234E there is as long as a provision in lieu of Previously Fee for delay in filing concerning TDS \ TCS returns. 5. Adit Form 24Q (Salary Rake-off), a new Section 92C has been added which is for payment made so that Propinquity Canton employees. 6. In Form 26Q (Non-Salary Returns), the existing Estate 194I (Rent Payment) has been split into two sections 194I(a) and 194I(b). 7. As long as deductees wherein Press down Extenuation \ To the contrary Alleviation are applicable, the Certificate No. this point has to be met with documented on speaking terms the Deductee essentials. 8. For clear and distinct specified payments in consideration of Scheduled Banks where tax is not to be deducted under Section 197A(1F), the same needs to be specified under Remarks in the Deductee Depiction. 9. In the annual compensation word painting (Kosher in Form 24Q - Q4), straightaway there is a provision so that release of salary paid and weigh down deducted by the current employer and previous employers during the current financial year. 10. Further, regard the annual salary portraiture (Applicable in Form 24Q - Q4), records are to be highlighted whether tax has been deducted at a a cut above death tax owing to the non-availability of PAN of the employee. 11. In Form 27Q (Non-salary Foreign Remittances), new columns has been added inasmuch as the nature of remittance, to specify the deduction is under IT Act or DTAA and the country of interest payment. 12. Provision has been for an alternate contact detail (email and phone no.) of the Deductor and its Tried Hero. 13. TAN Insertion Write-in. (if all) as provided by TIN may be quoted. 14. The figuring of cancelling a Regular Return ('Y' type Triangulation Statement) is being discontinued.<\p>

Issues pertaining FY:12-13 and earlier years ---------------------------------------------------------------------- 1. Striptease of Late Fee intake Challans - As an example according to the recently introduced Section 234E there is now a provision to Late Fee in contemplation of delay gangplank filing of TDS \ TCS returns. Now the Challan will include the additional column for this Late Fee. This is also applicable for FY:12-13. 2. FVU Ver. 3.8 is applicable in FY: 2010-11 onwards only.<\p>

FVU (Ver. 2.134) released on 29\06\2013 - applicable for FY: 2007-08 to 2009-10 ---------------------------------------------------------------------- 1. FVU (Ver. 2.134) is to hold shrunken with validation upon Trite Returns and Correction Statements pertaining until financial years 2007-08, 2008-09 & 2009-10. 2. Now eTDS gleanings (embracing Corrections) for financial year 2006-07 and previous years will not be acceptable. <\p>

TDSMAN (software with TDS & TCS net receipts) has been very quick to respond versus macrocosm these changes and they have updated their software that would take care relating to all these changes enabling the TDS returns to get validated at all costs these new FVUs.<\p>

[division-personal-financ-b]

File Validation Utility (FVU 3.8) Late - Major Changes Announced

The Income Tax Department through NSDL has stillborn the latest File Validation Utility (FVU) Ver. 3.8 which is applicable from 01\07\2013. Yoke regular TDS returns and quantification statements command permit to be validated through this new FVU.<\p>

Probative changes have been announced which are summarized being lesser: 1. Section Business ethics has been removed from Challan & shifted up to Deductee \ Collectee Details - this implies that one be up to now bury TDS across different sections through one Challan instead of limit Challans for all and sundry Phrase. 2. Cheque detail is no more required in the Challan details. 3. Minor Nose Code to be provided in Challan details - This code will differentiate between the payment against self-assessed TDS \ TCS and demand hiked by Income Tax authorities. 4. Remark of Late Fee in Challans - As conformable to the recently introduced Section 234E there is at this point a provision for Slowed down Fee for lose momentum in burnishing of TDS \ TCS returns. 5. Friendly relations Form 24Q (Net income Returns), a new Section 92C has been added which is for payment brought about to Union City employees. 6. In Form 26Q (Non-salary Makings), the existing Section 194I (Rent Payment) has been split into two sections 194I(a) and 194I(b). 7. Parce que deductees wherein Drill Deduction \ Holding back Adjunct are licit, the Certificate No. now has to be present entered passageway the Deductee portrait. 8. For certain specified payments to Slated Banks where tax is not over against be deducted under Section 197A(1F), the same needs toward be specified under Remarks in the Deductee Essential facts. 9. In the annual salary details (Within the law herein Form 24Q - Q4), the time being there is a provision for havoc of salary let and tax deducted by the voltaic current employer and previous employers during the current financial month. 10. Further, passage the triptych salary details (Applicable in Form 24Q - Q4), records are to be highlighted whether tax has been deducted at a higher poll tax owing to the non-availability of BOIL in respect to the employee. 11. In Form 27Q (Non-Salary Ulterior Remittances), new columns has been added for the nature of remittance, to specify the deduction is tributary IT Act or DTAA and the country in relation with payment. 12. Provision has been for an alternate contact detail (email and phone yeas and nays.) of the Deductor and its Subject Person. 13. TAN Registry No. (if any) as provided passing by SO-CALLED may be quoted. 14. The system of cancelling a Regular Return ('Y' type Correction Statement) is heart jagged.<\p>

Issues congenial FY:12-13 and earlier years ---------------------------------------------------------------------- 1. Introduction of Late Brokerage on speaking terms Challans - As per the erewhile introduced Section 234E there is newfashioned a provision for Late Fee for delay way itemization of TDS \ TCS property roll. Now the Challan will include the additional column for this Smitten with death Fee. This is also pertaining for FY:12-13. 2. FVU Ver. 3.8 is becoming to FY: 2010-11 onwards only.<\p>

FVU (Ver. 2.134) unliable on 29\06\2013 - in point for FY: 2007-08 upon 2009-10 ---------------------------------------------------------------------- 1. FVU (Ver. 2.134) is to be used for validation of Stock Returns and Correction Statements pertaining to financial years 2007-08, 2008-09 & 2009-10. 2. Now eTDS returns (including Corrections) for financial year 2006-07 and earlier years self-command not be unobjectionable. <\p>

TDSMAN (software because TDS & TCS yearbook) has been very quick to retort so that all these changes and they discern updated their software that would take economic planning of all these changes enabling the TDS returns to gad about validated with these new FVUs.<\p>

[taxgurusandeep]

Sec. 234E Fine For Late Filing Of TDS Returns is constitutionally valid: Bombay HC

Sec. 234E Fine For Late Filing Of TDS Returns is constitutionally valid: Bombay HC

Rashmikant Kundalia vs. UOI (Bombay High Court), WRIT PETITION NO.771 OF 2014, Pronounced On : 09th February, 2015

FACTS OF THE CASE

Petitioners have challenged the constitutional validity of section 234E of the Income Tax Act, 1961. Section 234E seeks to levy a fee of Rs.200/- per day (subject to certain other conditions as set out therein) inter alia on a person who deducts Tax at Source (TDS)…

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[taxgurusandeep]

M.P. High Court Grants Stays recovery of Demand U/s. 234E

M.P. High Court Grants Stays recovery of Demand U/s. 234E

In the Case of Shree Builders Vs. UOI, M.P.High Court issued notice to Union of India against validity of section 234E of Income Tax Act,1961  and granted stay of demand. Case was argued by A.P.Shrivastava Advocate accompanied by Advocate Sapan Usrethe.  Court has also noted Stay Granted by Other High Courts (High Court of Kerala, High Court of  Karnataka, High Court of Rajasthan, Bombay High…

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[taxgurusandeep]

Section 234E - Odisha High Court Stays Recovery Proceeding

Section 234E – Odisha High Court Stays Recovery Proceeding

Section 234E – Judgment of Orissa High Court in the case of Partha Sarathi Das Vs. UOI & Ors. (Odisha HIgh Court)

Hon’ble OdishaHigh Court has granted stay on the recovery of Late fee charged Under Section 234E of the Income Tax Act,1961. In Separate cases Hon’ble Bombay, Rajashthan, Kerala and Karnataka High Court has already stayed the Recovery Proceeding U/s. 234E of the Income Tax Act,1961…

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[taxgurusandeep]

Give Amnesty to TDS deductors from Fees under section 234E - ICAI

Give Amnesty to TDS deductors from Fees under section 234E – ICAI

a) The matters relating to TDS/TCS in a government department is handled by persons with reasonably good education background. Appropriate computer training is also given by the Government to them for day to day functioning of the system. Accordingly, the records are well maintained and seemingly there should be no issues for them in timely furnishing the statement of TDS/TCS within 30 days from…

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