letters from ITO of delay for tds provision

This query is : Resolved 

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.

Thanks in advance.

TRIBHUVAN

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.

13 November 2010 but sir my point is

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

what to do?

Awaiting reply.

TRIBHUVAN


13 November 2010 answer is there in mr.sanjay reply. meet your AO explain the nature. you will get solvation.

13 November 2010 There is one field asking--

TDS deducted on Cash or book entry if you select cash then due date will be 7th april.
If u select book entry due date will be 31st may.



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