Tds not deducted earlier

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2013 TDS not deducted earlier in respect of a party now deducted and remitted along with interest. question is tds return filed in previous quarter has to be revised or since TDS is deducted only in the current month for earlier period can we include the same in current quarter return?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 December 2013 you can add in the current quarter return since the deduction happened current month

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2013 Any penalty be imposed later on. since tax to be deducted earlier not deducted. but now deducted and remitted with interest. kindly advice.

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 December 2013 Only interest will apply, that also you already paid, so no issue

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Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2013 Thanks sir.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 December 2013 beg to differ. if the payment was made in the earlier quarter, then the deduction shall also pertain to the said quarter. Late deduction doesnt mean that you add it to the current quarter.

adding to current TDS statement would not be the fair reflection. One more question, if you show it in the current quarter, then what is the need of the interest??