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Income tax Department replying to an application under RTI Act filed by CA Subin V R has revealed the total amount collected under section 234E of the Income Tax Act in the financial year 2013-14 and from April 2014 to October 2014. As per the reply order dated 22-12-2014 the amount so collected is as under:
|
Year/Period |
Number Count |
Amount (in crores) |
|
FY 2013-14 01-04-2013 to 31-03-2014 |
186549 |
10134 |
|
FY 2014-15 01-04-2014 to 31-10-2014 |
127839 |
7363 |
|
Total |
314388 |
17497 |
Thus, it can be seen that a whooping Rs. 17497 crores have been collected by the income tax department for late filing of TDS/TCS quarterly returns within a period of nineteen month under the section 234E of the Income Tax Act, 1961.
The section 234E related to levy of late fee for default in furnishing TDS/TCS Statements has become effective from 01-07-2012. The section provides for levy of late fee of an amount of Rupees two hundred for every day during which the failure continues.
It is notable that many High Courts (Bomaby HC, Madras HC, Kerala HC, Karnataka HC, Rajasthan HC, Orissa HC) have granted interim stay on the operation of the said section with instruction to Income Tax Department not to take coercive action against petitioner.
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As per Reply under RTI, Income Tax Department has Collected Total Rs. 17497 Crores from 01-04-2013 to 31-10-2015 u/s 234E of Income Tax Act, 1961
