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Suggestion for 234E and Updates

Suggestion for 234E and Updates

Suggestion for 234E and Updates

  Suggestion for 234E & Updates

    1) SECTION 234E

Provisions of sec.234E has been made applicable w.e.f. 1st July, 2012. It states that “Amount of late fee      @ Rs.200/- per day shall be paid before delivering a        TDS statement”.

But prior to 01.06.2015, there was no enabling provision in Section 200A of the Act for making adjustment in respect of the statement filed by the assessee with regard to tax deducted at source by levying fee under Section 234E of the Act.
So there were discussions on operational efficiency of the section 234E, and some people believe that, any fees u/s 234E is payable only after a period of 1-Jun-2015.

Honourable Bombay High Court, in the case of Rashmikant Kundalia and another [1] dated February 2015, has upheld the constitutional validity of the said section. 
Recently, two ITAT(Chennai ITAT & Amritsar ITAT) judgements have been pronounced on the operational part of section 234E 

Both the ITAT has come to a conclusion that, recovery u/s 200A before 1-Jun-2015 of fee u/s 234E is not possible. This answer is to question u/s 200A.

After Amendment in section 200A by Finance Bill 2015 w.e.f. 01-06-2015, following position emerge

Till 31-5-2015 Income tax department has no power to process TDS return U/s 200A to levy TDS late fee U/s 234E 
but w.e.f. 1-6-2015 as per Sec. 200A income tax department can levy late fee U/s 234E @ Rs. 200/- per day on delayed filing of TDS return.
so if any late fee is levied before 1-6-2015 appeal can be filed for this or rectification application U/s 154 can be filed to get it cancelled. However, it is advisable to file appeal & not  to file S. 154 petition as in d later case debatable issues or lengthy issues cannot succeed.

Now if due to mistake any late fee U/s 234E is paid then refund will be granted of such excess late fee.

1⃣Bombay High Court in the case of Mr Rashmikant Kundalia and another v UOI WP No. 771 of 2014 dt 6-Feb-2015
2⃣ITAT, Amritsar in the case of Sibia Healthcare Private Limited v DCIT (TDS), Gaziabad I.T.A. No.90/Asr /2015 dated 9-Jun-2015.

2) IT:Rectification order passed by Tribunal u/S 254(2) is not appealable before High Court- Saroop Tanneries Ltd. (Punjab & Haryana).

3) IT:Rejection of claim raised in return of income ipso-facto not attract levy of penalty U/s. 271 (1) (c). CIT vs. G.K. Properties Pvt Ltd (Andhra Pradesh High Court).
4) IT:Single Centering & shuttering material used in construction can be treated as plant. CIT Vs. S. Vijaya Kumar (Andhra Pradesh High Court).

5)CL: New e-Form CRA-4 (filing Cost Audit Report in XBRL format) available for filing w.e.f. 11.09.15.

6) CL: Form AOC-4 XBRL notified in Companies (Filing of Documents & Forms in XBRL) Rules, 2015 dated 9th Sep, 2015.

7) XBRL Draft C&I Taxonomy 2015 and Draft Business Rules 2015 released for conversion of Financial Statement for FY 2014-15 into XBRL Mode.

Suggestion for 234E and Updates

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