Can tds challan be paid in advance ?

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abhijeet m. deshpande (Querist)
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06 January 2014 My assessee, a Private Ltd. Co. has paid remuneration to its directors in October 2013. TDS was deducted in Oct. 2013. However TDS challan was paid in May 2013. Can the assessee take credit of this TDS paid in advance in the TDS return for quarter 3 of 2013-14.

@VaibhavJ

@VaibhavJ (Expert)
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06 January 2014 Hi

ETDS FVU will not allow to accept such transaction & credit will be available only in relevant quarter.

Thanks

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abhijeet m. deshpande

abhijeet m. deshpande (Querist)
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06 January 2014 Sir,
The latest FUV 4.1 allows such credit as long as the TDS has been deducted in the current quarter. The return has been validated and FUV file has been created.

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@VaibhavJ

@VaibhavJ (Expert)
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06 January 2014 Hi,

Ok I got your Question now. Since you are validating in current date it is allowed & valid as per IT also.

However if you would have tried it post payment of TDS system would not have allowed you.

Thanks

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abhijeet m. deshpande

abhijeet m. deshpande (Querist)
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06 January 2014 The TDS challan was paid in the 1st quarter. As there was no other tds in the 1st quarter, the tds return for the first quarter has not been filed. Do we need to file a nil return for qt.1.

@VaibhavJ

@VaibhavJ (Expert)
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06 January 2014 Hi

No need to file NIL challan since there was no dedcuctee records.

Thanks