Penalty/Interest for late issue of Form No. 16, 16A

[manoj gupta]

For assessment year 2010-11, form 16,  Form 16A has to be issued upto 30.04.2010 except the cases in which TDS is to be deposited by 31st May. What is the penalty/interest for issuing form 16/  Form 16A after the due date as applicable. 2) What is the procedure to follow if some TDS has been deposited in June 2010 in addition to TDS deposited in normal course during the year on salary. How to issue form 16, What is the due date.

[Rama Krishana]

For penalty provisions see section 271C and 272A.

AI Summary

Penalty for late Form 16 issuance may attract statutory penalty and interest; compliance requires correct TDS reporting and issuance. Penalty exposure for late issuance of Form 16/Form 16A for assessment year 2010-11 (due generally by 30.04.2010, with a May 31 exception for certain TDS deposits) and procedural questions when additional TDS is deposited in June 2010 are addressed by reference to penalty provisions under sections 271C and 272A; assess late issuance and reporting omissions against those statutory penalties and follow standard TDS reporting and certificate issuance procedures.