The assessee had paid freight of ₹ 9,00,000/- in Fy 2011-12.PAN was received from transporter, hence no TDS was deductible.
However, the details of transporter were not furnished with TDS return, which attracted penalty u/s 272 A(2)(c). But penalty in this case is ₹ 100 per day for which default continues maximum upto TDS liability. TDS liability in this case is NIL. So, what will be the penalty amount leviable?
Penalty Query Under Section 272A(2)(c) for Missing Transporter Details in TDS Return Despite Nil TDS Liability An individual inquired about a penalty under section 272 A(2)(c) related to a freight payment of 9,00,000 in the financial year 2011-12. Although the transporter provided a PAN, and thus no TDS was required, the transporter's details were not included in the TDS return, leading to a potential penalty. The penalty is 100 per day until the default is rectified, up to the TDS liability amount. However, since the TDS liability is nil, the query seeks clarification on the applicable penalty amount in this scenario. (AI Summary)
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