TRACES – Reminder to Government Deductors - Not filed for 2 Quarters

CPC (TDS) reminder to Government Deductors for filing TDS Statements: Not filed for 2 Quarters (During Q2, FY 2012-13 to Q3, FY 2013-14)

Communication Number 31, dated 14th March, 2014

This is to inform that as per the records of the Centralized Processing Cell (TDS), quarterly TDS Statements have not been filed for 2 quarter during Q2, FY 2012-13 and Q3, FY 2013-14.

Please note that Circular 07 of 2014 dated March 04, 2014 issued in the context of Late Fee levied under Section 234E of the Income Tax Act, 1961 provides for ex-post facto extension of the due dates of filing TDS/ TCS Statements only up to March 31, 2014, for the above stated quarters.

In view the above circular, please note the following important points:

·         CPC (TDS) strongly recommends that the TDS/ TCS quarterly statements for all quarters up to Q3, 2014 may be filed without any further delay.

·         Any further delay after April 1, 2014 in filing the statements for these quarters of the aforesaid Financial Years will attract Late Filing Levy u/s 234E of Rupees two hundred for every day during which the failure continues.

·         This is only a one-time relaxation in the due date for filing TDS/ TCS statements for the concerned quarters and you are encouraged to take benefit of the same to avoid Levy of Late Fee.

Attention PAOs/ DDOs:

·         PAOs are requested to file 24G statements at the earliest, if not already done, to facilitate the Government deductors with timely provision of Book entry Identification Number (BIN) for filing of their TDS statements.

·         DDOs are requested to quote correct BIN while filing the statements.

Source:TRACES.