TDS : Interest and Late Fees on Delayed Payment

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  1. Bharat2004

    Bharat2004 New Member

    From Justification Report (Intimation Notice): Notice generated on 27-March-2015
    Date of Transaction: 19-Nov-13
    Date of deposit: 11-Jan-14
    Delay in filing: 35 Days
    Penalty fee: 7000/-
    Interest on Late Payment: 1089/-
    ....
    Additional Info: Form 16B was downloaded on 11-Jan-14
    ....
    A few Questions:
    Q1. Can I pay Interest and penalty fees through single challan (online) or need to pay separately?
    Q2. I understood that since the TDS form (16B) has already been generated (on 11-Jan-14), the late fee can not be recovered now?
    If this is true:
    Q2a. Can I pay just the interest and not pay the Late fees? If yes, how do I intimate the tax department that I am not paying the late fees?
    3. Shall I get a CA to handle this?

    Any recommendations Please.
     
  2. Maninder Prashar

    Maninder Prashar New Member

    I had submitted TDS of Rs 54500(on March 31, 2014) on property purchased worth 54.5 L(on Sep 16, 2013) in four equal parts since there were 2 buyers(me n my wife) and 2 sellers. Four 26QB forms were generated as a result of same each having TDS amount of Rs. 13625.

    I got the notice through email for late payment of TDS on property today and they have sent 4 mails(for each buyer-seller PAN combination).

    The statement on one of the email is” This is to give you a notice that a sum of Rs.15050.00(including Interest) has been determined to be payable by you in respect of statement filed by you as above ”

    Sum determined u/s 200A of the Income Tax Act, 1961
    Interest on Late Payment is 1428

    Sum determined u/s 234E of the Income Tax Act, 1961
    Late Filing fee u/s 234E is 13625.00
    Net Payable(Rs.) 15050

    Same calculation has been mentioned on rest of the three letters.

    Can you please let me know what tax amount do I need to pay as late payment fee for TDS on my property purchase?

    Many Thanks,
    Maninder
     
  3. Bharat2004

    Bharat2004 New Member

    No response, no recommendation? Really?
     
  4. Maninder Prashar

    Maninder Prashar New Member

    Is this forum even active? I haven't seen any comment been made..
     
  5. Bharat2004

    Bharat2004 New Member

    Go to CACLUBINDIA.COM. I got some response there at least.
     
  6. Maninder Prashar

    Maninder Prashar New Member

    Thx Bharat, I will try that one..I am also getting in touch with a lawyer to understand the process..BTW, how have you thought of dealing with this now?
     
  7. Ranjitha

    Ranjitha New Member

    Any one Please tell me the password for extracting Justification Report of 26QB
     
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