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Section 234E - Fee for default in furnishing quarterly returns of TDS/ TCS - Income Tax - Ready Reckoner - Income TaxExtract SECTION 234E: FEE FOR DEFAULT IN FURNISHING QUARTERLY RETURNS OF TDS/ TCS This section is applicable for quarterly returns of TDS/ TCS. This section provides that where a person fails to deliver the quarterly returns of TDS/ TCS within the time prescribed, then he shall be liable to pay a fees of 200 for every day during which the failure continues. This is in addition to the penalty under section 271H . However, such fees shall not exceed the amount of TDS / TCS deductible / collectible in the quarterly return. The fees under section 234E shall be paid before furnishing the quarterly returns of TDS/ TCS.
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