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Q. > Please Help: Penalty under section 221 for section 221(1A)
One of my client has deposited TDS amount after a due date (maximum default involve is of 5 days).
He has paid the interest amount on the intimation raised by the department.
However now the officer issued penalty order under section 221 for default on payment of tax.
Please tell me what you do
Please also give me the reference of any Case law or section where i can get help
I am waiting for your response
Thanks in advance
answered Feb 18, 2012 by CA Gaurav Kumar Agarwal , East Delhi
see frnd penalty u/s 221 shall be levid when the assessee doen not pay the amount of tax within the stipulated peiod allowed by AO in demand notice u/s 156.
however if assessee proves taht reason for delay is not intention of assessee then penalty can be removed.
here tax means tax assesed by AO i.e demand notice u/s 156.
merely paying TDS late does not make an assessee in default hence penlty could not be levid
answered Feb 18, 2012 by Mrattunjay , New Delhi
It order like that, answer should be for the same from assessee : there is no fault from assessee due to payment with interest and not intentinally
Experts Panelist
Comments
Ashish Jain
17-Feb-2012 , 11:34:58 pmsorry its 201(1A)as assessee in default instead of 221(1A)