Combining of TDS on property to avoid late penalty fee

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  1. Varun Mathur

    Varun Mathur New Member


    I need help in filing to pay my TDS amount of 48K.

    However, As I got delayed to file the TDS as per the Govt. Timeline the interest and Penalty would be too much. (Amounting to additional 50K).

    I would like to save maximum on interest and penalty on TDS. I would like to know if I can club the instalment in moth of February and March 2015 and pay the TDS accordingly.

    Form 16B will be generated based on that which the builder required. As it would be in same year (2014-15) so builder won't be having any problem too.

    For example,

    There is a instalment of around 19 lakh which I paid in September. So the TDS due date was 7th October 2015.
    The penalty for that now would be 19,000 itself.

    So to save that I paid the instalment of 4 lakh in February 12. Can I club both amount (23 lakh) and pay say in 13 March 2015 or something and pay the TDS accordingly.

    Ultimately, I would be paying the whole TDS amount which builder required. Only thing I want to save is penalty and interest.

    Varun Mathur
  2. Sumit Agarwal

    Sumit Agarwal Active Member

    As per law you are liable to pay penalty and interest both. If you club it on Mar you would be in default and whenever your case would be openend you would be treated assesse in default. The builder is not concerned about it. If anybody will be in default it will be you not builder because tds liability was yours.
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