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of <h1>Income Tax Bill 2025 Clause 427 introduces Rs 200 daily fee for delayed TDS/TCS statements under Section 234E</h1> The Income Tax Bill 2025's Clause 427 imposes a fee for delayed furnishing of TDS/TCS statements, mirroring Section 234E of the Income-tax Act 1961. The provision levies Rs. 200 per day of default, capped at the tax amount deductible or collectible. The fee must be paid before filing the delayed statement and applies without prejudice to other Act provisions. This compensatory mechanism aims to ensure timely compliance with reporting deadlines under section 393(3)(b), maintaining tax collection integrity and enabling effective administration. The provision continues the existing legislative approach with minor drafting adjustments for the new Bill's structure.
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