Tds nil return

This query is : Resolved

POONAM (Querist)
Follow

11 October 2013 OUR SOFTWARE IS NOT GENERATING TDS NIL RETURN,
SO I WANT TO ASK THAT NON FILLING OF NIL RETURN LEAVY ANY PANALTY OR NOT?

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

11 October 2013 Its not mandatory to file TDS NIL return,
As per latest notification,
CBDT made a great move Which implies that Nil TDS return is no more permissible..

http://taxguru.in/income-tax/nil-tds-return.html

regards,

POONAM

POONAM (Querist)
Follow

11 October 2013 WHICH CIRCULAR NO.?

Upgrade to CAclubindia Pro. Subscribe Now!

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

11 October 2013 Three days ago an expert mailed CPC TDS cell,

I've uploaded the email attachment..
https://www.caclubindia.com/forum/email-from-cpc-tds-for-tds-return-filing-267612.asp#.Ulai41NEOT4

However, TDS NIL return is not mandatory except in case 24Q 4th quarter...

POONAM

POONAM (Querist)
Follow

11 October 2013 but i think 24Q is to be filed Compulsorily in case of company.

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

11 October 2013 That's why I said Except 24Q...

Note: that the NIL return should have a value Greater than Zero as Total Amount Paid/Credited. Zero-Amount of Payment is not accepted by NSDL..

POONAM

POONAM (Querist)
Follow

11 October 2013 BUT 24 Q IS ALSO OT GENERATING BY OUR SOFTWARE,SO WHAT I DO IN THIS CASE?

CA Pallav Singhania

CA Pallav Singhania (Expert)
Follow

11 October 2013 You can file NIL TDS return,
There is no obligatory notice on it...

Go ahead...

Upgrade to CAclubindia Pro. Subscribe Now!