Ashiana Housing Limited Faces Income Tax Penalties Over TDS Violations for FY 2013-14
Ashiana Housing Limited has confirmed penalties levied by the Income Tax Department in connection with violations related to Tax Deducted at Source (TDS) pertaining to Fiscal Year 2013-14. The penalties relate to specific sections of the Income Tax Act, 1961, concerning non-deduction and delay in filing TDS statements for the company.The penalties involve two separate orders from the Income Tax Officer Ward 73(2), Delhi, covering violations under Section 271C and Section 271H of the Income Tax Act, 1961. The total penalty amounts are ₹ 2,08,286/- and ₹ 20,000/-, respectively.
Penalty Under Section 271C (Non-deduction of TDS)
The penalties under Section 271C relate to the non-deduction and non-deposit of TDS under Section 194-I on annual lease rentals paid to UIT (Bhiwadi) for FY 2013-14. The Penalty Order for this violation was dated June 29, 2026, having been received by the company on July 01, 2026.Details regarding the penalty under Section 271C are presented below:
| Authority | Details of Action/Penalty |
|---|---|
| Office of the Income Tax Officer Ward 73(2), Delhi, Income Tax Department | Penalty Order demanding a penalty of ₹ 2,08,286/-. |
| Violation Detail | Non-deduction and non-deposit of TDS under Section 194-I on annual lease rentals paid to UIT (Bhiwadi) for FY 2013-14. |
| Response Status | The company has deposited the required TDS along with applicable interest on December 23, 2025, and is exploring legal avenues to contest the order. |
Penalty Under Section 271H (Delay in Filing TDS Statements)
A separate penalty of ₹ 20,000/- was levied under Section 271H of the Income Tax Act, 1961. This penalty arose from the delay in filing TDS Statements (Form Type 27Q and 24Q) for FY 2013-14. The Order date for this violation was June 29, 2026, with intimation received on July 02, 2026.Details regarding the penalty under Section 271H are summarized as follows:
| Authority | Details of Action/Penalty |
|---|---|
| Office of the Income Tax Officer Ward 73(2), Delhi, Income Tax Department | Penalty of ₹ 20,000/- levied vide Order under Section 271H. |
| Violation Detail | Delay in filing TDS Statements (Form Type 27Q and 24Q) for FY 2013-14. |
| Response Status | The company has deposited the required TDS along with applicable interest on December 23, 2025, and is exploring legal avenues to contest this order. |
Impact Assessment
Regarding the impact of these actions on Ashiana Housing Limited, the management stated that no significant impact on financial or operational performance has been observed. In terms of monetary implications, the company is currently in the process of reviewing and reconciling its records following the imposition of the penalties.ASHIANA Stock Price Movement
Ashiana Housing Limited shares slipped by 2.06% today to close at ₹384.75. The stock recorded a traded volume of 91,787 shares as the market concluded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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