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Thursday, January 30, 2014

Failure to issue TDS certificate within the time allowed, attracts penalty of Rs. 100/- per day

Failure to issue TDS certificate within the time allowed, attracts penalty of Rs. 100/- per day of default (Sec 272A(2)(g)). However, penalty will not exceed the amount of tax deductible or collectible, as the case may be.

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