Mandatory Penalty for Late TDS Returns u/s 272A(2)(k); Possible Waiver with Reasonable Cause per Section 273B.

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....Penalty levied u/s 272A(2)(k) r.w.s. 200(3) - late filing of TDS Returns - the word used in section is ‘shall’ and not ‘may’ - But, penalty can be deleted in case the assessee fulfills the conditions of reasonable cause as provided in section 273B....