Clause 34 tds disclosure - revised form 3cd

This query is : Resolved

Guest

Guest (Querist)

23 September 2014 My query was regarding the disclosure for the amount that is paid/credited but was exempt from TDS.
For eg.Form 15G/H for exemption of TDS deduction for interest on fixed deposit.

I would like to know how this figure would be disclosed in Clause 34.

Let me know your opinions.

Thanks in advance.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 September 2014 Yes required to be disclosed in column no 4.

Guest

Guest (Querist)

29 September 2014 Thanks Sanjay. Is this an opinion/logical conclusion or do you have any material that shows that it needs to be disclosed this way? Kindly share in case you have material.

Also why would you show amounts exempt from TDS if you are not showing it in the TDS return that is being filed during the year?

Won't they cross tally TAN related TDS filing with the amounts being shown in this 3CD clause thus causing a discrepancy by disclosing exempt amounts.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 September 2014 The words used are pretty clear.

Column 4 - Total amount of Payment or Receipt of the nature specified in Col. 3

The words are total amount of payment. Its my understanding. Views of other experts may be taken.