Failure to file the TDS return or to deduct and remit TDS on time results in penalties, late fees, and interest on the TDS amount. Additionally, the deadline for filing the Income Tax return is 31st July for non-audit firms and 31st October for audit firms, following the end of the relevant financial year. With the introduction of this new section, firms whose remuneration is linked to profits and who finalize their accounts at the time of filing the ITR or just before will likely miss the TDS deduction and filing deadlines. Consequently, they will be deemed as defaulters, incurring late fees and interest on TDS payments, which could amount to approximately 4 months for non-audit firms and 7 months for audit firms. This imposes an additional financial burden on the firm, despite their best efforts to comply. (Therefore, the Legislature's indirect intent to regularize and finalize the books of accounts within a specific timeframe is underscored by this provision.)