Fee levy on late filing of TDS on purchase of property

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    BS BADWAL New Member

    Dear Manager,

    I read somewhere that once the TDS return is accepted (even if it is filed late) the income tax authorities CAN NOT levy late fee (specially Rs 200/- per day, that works out to quite a bit)...

    They may however levy interest on the late payment/ deposit of TDS to be deposited by the buyer..

    I have got a notice "defaults observed in TDS return " and asked to pay a large sum (@Rs 200/-per ady) as late filing charges & some minor amount as interest on late deposit of TDS..

    Please advise as to what should be done / or method of appeal if any...

    Warm Regards
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