Answer

1. F

   Facts

   Yes. Sec 271H (now Sec 461) allows a penalty of ₹10,000 to ₹1 lakh for not filing a TDS statement or filing wrong details. No penalty applies if the TDS, interest and late fee are paid and the statement is filed within one year of the due date.

2. P

   Provisions and law

   • Sec 271H, Income-tax Act 1961 (now Sec 461, Income-tax Act 2025)Penalty of ₹10,000 to ₹1 lakh for not filing or filing an incorrect TDS statement
   • Sec 234E, Income-tax Act 1961 (now Sec 427, Income-tax Act 2025)Late fee of ₹200 a day for a late TDS or TCS statement, capped at the TDS or TCS amount
3. A

   Analysis

   This penalty is separate from the ₹200 a day fee. Example: Q4 FY 2025-26 statement due 31 May 2026; filing it by 31 May 2027 after paying TDS, interest and fee protects you from Sec 271H. After one year, the officer can levy the penalty. Wrong PANs or amounts can also attract it, so file accurate statements.

4. C

   Conclusion

   1. 1List any pending statements and their due dates
   2. 2Pay all TDS, interest and late fee first
   3. 3File the statement before one year from the due date
   4. 4Keep the challans and filing acknowledgements

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.