https://www.taxtmi.com/article/detailed?id=5458 A mandatory fee under section 234E, effective 1 July 2012, is levied for delayed furnishing of prescribed TDS/TCS statements, subject to a cap equal to the tax deductible or collectible. A contemporaneous penalty provision for late or incorrect statements may also apply; the penalty is avoidable if tax, interest and the fee are paid and the statement delivered within one year of the prescribed date. The fee is criticized as mandatory despite no service rendered, may coexist with penalty and interest, and its validity is questioned. en-us Fri, 31 Jan 2014 10:45:36 +0530 Fri, 31 Jan 2014 13:28:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5458 A mandatory fee under section 234E, effective 1 July 2012, is levied for delayed furnishing of prescribed TDS/TCS statements, subject to a cap equal to the tax deductible or collectible. A contemporaneous penalty provision for late or incorrect statements may also apply; the penalty is avoidable if tax, interest and the fee are paid and the statement delivered within one year of the prescribed date. The fee is criticized as mandatory despite no service rendered, may coexist with penalty and interest, and its validity is questioned. Articles Income Tax Fri, 31 Jan 2014 10:45:36 +0530 https://www.taxtmi.com/article/detailed?id=5458