No penalty for delay in filing quarterly TDS statement if entire tax with interest deposited By Anand Gupta TaxGuru

No penalty for delay in filing quarterly TDS statement if entire tax with interest deposited Penalty under Section 272A(2)(k) could not be imposed merely for the delay in filing Quarterly TDS Statement as the entire tax along with interest thereon had been deposited in to Govt. account and later, assessee filed quarterly TDS returns for all the quarters and Revenue had not suffered any loss because tax deducted was already deposited on time and there was mere technical or venial breach to provisions contained in Act for submitting return/statements of TDS.

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