Due date for filing TDS, TCS extended till March 31
Updated: Mar 07, 2014 12:11:05pm
New Delhi, Mar 7 (KNN) The due date for filing 'tax deducted at source' (TDS) and tax collected at source (TCS) for 2012-13 has been extended till March-31 in case of government deductors by the revenue department.
“The Central Board of Direct Taxes (CBDT) had received several petitions from various deductors requesting waiver of fee levied u/s 234E of the Income-tax Act for delay in filing of TDS/TCS statements,” said an official release.
It was stated that the delay was because of certain difficulties being faced by the Government deductors for reasons beyond their control, the release added.
"On a consideration of the difficulties being cited by the deductors, the CBDT has decided, as a one-time exception, to ex-post facto extend the due date of filing of TDS/TCS statements for FY 2012-13 (2nd to 4th quarter) and FY 2013-14 (1st to 3rd Quarter) to March 31, 2014 in the case of government deductors.
“This will have an effect of automatic waiver of the fee u/s 234E so levied. However, any fee already paid by a Government deductor shall not be refunded,” the release said.
The department, last year, had said that failure to deposit timely and correct TDS or TCS by either government or private sector will attract a penalty which can range from Rs 200 to Rs 1 lakh.
All the TDS range offices of the department across the country have been asked by the Central Board of Direct Taxes to ensure compliance in this area. (KNN/SD)
“The Central Board of Direct Taxes (CBDT) had received several petitions from various deductors requesting waiver of fee levied u/s 234E of the Income-tax Act for delay in filing of TDS/TCS statements,” said an official release.
It was stated that the delay was because of certain difficulties being faced by the Government deductors for reasons beyond their control, the release added.
"On a consideration of the difficulties being cited by the deductors, the CBDT has decided, as a one-time exception, to ex-post facto extend the due date of filing of TDS/TCS statements for FY 2012-13 (2nd to 4th quarter) and FY 2013-14 (1st to 3rd Quarter) to March 31, 2014 in the case of government deductors.
“This will have an effect of automatic waiver of the fee u/s 234E so levied. However, any fee already paid by a Government deductor shall not be refunded,” the release said.
The department, last year, had said that failure to deposit timely and correct TDS or TCS by either government or private sector will attract a penalty which can range from Rs 200 to Rs 1 lakh.
All the TDS range offices of the department across the country have been asked by the Central Board of Direct Taxes to ensure compliance in this area. (KNN/SD)
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