Question

A deductor failed to deposit TDS of ₹20,000 on time. Under Section 427, what is the daily late filing fee levied for delay in submitting a quarterly TDS statement/return, and what is the maximum ceiling for this fee? 

A ₹100 per day, capped at ₹10,000
B ₹200 per day, capped at the total amount of TDS
C ₹500 per day, capped at ₹50,000
D ₹1,000 per day, capped at double the TDS amount
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