Nil t.d.s. return
This query is : Resolved
19 November 2012
Can Anybody tell me that whether NIL TDS return is Mandatory to Fill or Not?
If Yes,if an Assessee Dose not file NIL TDS return than what will be Penalty?
And If NO, Then Please Provide me the No. of Section of Relevant Act where it has been stated....
If Yes,if an Assessee Dose not file NIL TDS return than what will be Penalty?
And If NO, Then Please Provide me the No. of Section of Relevant Act where it has been stated....
19 November 2012
Nil return has to be filed
19 November 2012
A penalty ranging from Rs. 10000 to Rs. 100000 may be levied for not furnishing TDS statement within the prescribed time.
However,no penalty shall be levied for delay in furnishing of TDS statement if the TDS statement is furnished within one year of the prescribed due date after payment of tax deducted along with applicable interest and fee.
However,no penalty shall be levied for delay in furnishing of TDS statement if the TDS statement is furnished within one year of the prescribed due date after payment of tax deducted along with applicable interest and fee.
21 November 2012
Sorry Sir but I m not completely satisfied yet... can you tell me the Section No. In which it has been prescribed that NIL TDS return have to be filled.
21 November 2012
Pls read Section 271H
25 November 2012
thank you sir........
can you futher explain it..
can you futher explain it..
25 November 2012
and sir can you tell me, if i didn't filed NIL T.D.S. return of any quarter than how much penalty will be imposed on me?
29 November 2012
any body is here to ans. my question or not???
04 August 2024
Certainly! Here’s a detailed explanation regarding NIL TDS (Tax Deducted at Source) returns:
### 1. **Requirement to File NIL TDS Returns**
**Yes, filing NIL TDS returns is mandatory.**
Under the Income Tax Act of India, all entities that are required to deduct TDS are also required to file TDS returns, even if there is no TDS to report for a particular period. This ensures that the authorities have a record of compliance and that no TDS liabilities were due for the given period.
### 2. **Relevant Sections**
The requirement for filing TDS returns, including NIL returns, is primarily governed by the following sections of the Income Tax Act, 1961:
- **Section 192 to Section 195:** These sections cover the various types of TDS obligations.
- **Section 200:** Specifies the obligation of the person deducting tax to deposit the TDS and file the TDS return.
Specifically:
- **Section 200(3)** of the Income Tax Act, 1961, mandates the person deducting tax to furnish a statement of tax deducted (which includes NIL returns) in the prescribed form.
### 3. **Penalty for Non-Filing of NIL TDS Returns**
If a taxpayer fails to file TDS returns (including NIL returns) by the due date, penalties can be imposed as follows:
- **Late Filing Fees:** Under **Section 234E**, a fee of ₹200 per day is levied for every day of delay in filing the return until the return is filed, subject to a maximum of the total TDS amount due.
- **Additional Penalties:** In case of continued non-compliance, other penalties might apply under sections related to tax defaults and prosecution.
### Summary of Penalties
- **Late Fee (Section 234E):** ₹200 per day of delay until the return is filed.
- **Additional Penalties:** May be imposed for failure to file returns under other relevant provisions, including potential prosecution for willful neglect.
### **Recommendations**
1. **Timely Filing:** Ensure that NIL TDS returns are filed for all periods to avoid late fees and other potential issues.
2. **Consult a Professional:** It’s advisable to consult a tax professional or Chartered Accountant to navigate specific details and ensure compliance.
If you need further clarification or assistance with the filing process, a tax professional can offer detailed guidance tailored to your situation.
### 1. **Requirement to File NIL TDS Returns**
**Yes, filing NIL TDS returns is mandatory.**
Under the Income Tax Act of India, all entities that are required to deduct TDS are also required to file TDS returns, even if there is no TDS to report for a particular period. This ensures that the authorities have a record of compliance and that no TDS liabilities were due for the given period.
### 2. **Relevant Sections**
The requirement for filing TDS returns, including NIL returns, is primarily governed by the following sections of the Income Tax Act, 1961:
- **Section 192 to Section 195:** These sections cover the various types of TDS obligations.
- **Section 200:** Specifies the obligation of the person deducting tax to deposit the TDS and file the TDS return.
Specifically:
- **Section 200(3)** of the Income Tax Act, 1961, mandates the person deducting tax to furnish a statement of tax deducted (which includes NIL returns) in the prescribed form.
### 3. **Penalty for Non-Filing of NIL TDS Returns**
If a taxpayer fails to file TDS returns (including NIL returns) by the due date, penalties can be imposed as follows:
- **Late Filing Fees:** Under **Section 234E**, a fee of ₹200 per day is levied for every day of delay in filing the return until the return is filed, subject to a maximum of the total TDS amount due.
- **Additional Penalties:** In case of continued non-compliance, other penalties might apply under sections related to tax defaults and prosecution.
### Summary of Penalties
- **Late Fee (Section 234E):** ₹200 per day of delay until the return is filed.
- **Additional Penalties:** May be imposed for failure to file returns under other relevant provisions, including potential prosecution for willful neglect.
### **Recommendations**
1. **Timely Filing:** Ensure that NIL TDS returns are filed for all periods to avoid late fees and other potential issues.
2. **Consult a Professional:** It’s advisable to consult a tax professional or Chartered Accountant to navigate specific details and ensure compliance.
If you need further clarification or assistance with the filing process, a tax professional can offer detailed guidance tailored to your situation.
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