13 November 2010
Sir, I have received one letter regarding verification / correction in my tds statement filed by me.
we have made provisions for few creditors on 31st march 2008 and have deposited tds accordingly on 31st may 2008.
but now i have received the letter with "show cause for default u/s 201(1)/206c(7" showing all such deductions as 2 months delay.
As far as my knowledge is concerned book entry aspect is for government companies only and packed softwares (we are using taxmann software for tds ) does not contain such aspects
What the perfect reply you all readers consider for the above.
Awaiting earliest repsonse as i want to clear it as soon as possible.
13 November 2010
Yes its quite normal. Just meet the TDS AO on scheduled date and clarify your position. The penalty proceedings will be dropped. Also check whether in your return if you have shown as TDS deducted on payment. If yes the due date becomes 07th April instead of 31st May and delay will be for two months. By book entry means TDS deducted on provision and hence due date will be 31st May. You can show your ledger copy to AO and if he say you will have to revise your return showing TDS deducted on book entry. Nothing to worry about.
In tds returns the date of payment for all provisions will be 31st march and for the same tds payments falls due on 31st may only and i have received the letters for 2 months delay
CAclubindia
