Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2013 Is a person required to obtain TAN no. if the transporter provides him the valid PAN no.and he has no liability to deduct TDS.

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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25 October 2013 No not required.

Ganeshbabu K

Ganeshbabu K (Expert)
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25 October 2013 In my opinion,Yes, he need to obtain TAN number,for filing tds return
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i do agree that NIL tds on payment made to transporters if they provide valid PAN number by virtue of section 194C(6),but it is mandatory to provide details of same in TDS return,)
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detailed explanation with relevant notifications,ammended rules are well dealth in my article,kindly refer to my article and also refer to comments made to my article
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https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp#.UmoWxvmnqQA

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CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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25 October 2013 But weather Nil TDS Return is compulsory ? If not then sir, why required ?

Ganeshbabu K

Ganeshbabu K (Expert)
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25 October 2013 1)Nil tds return with nil deductee details and nil challans is not mandatory and even can say not required to fle.
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2)But in my opinion nil tds return with nil challan but with details of deductees is possible
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we need to provide pan of transporters with nil challans
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refer my article from link given above
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but let me tell you in many client places i have noticed no one is following this compliance(only few complying with this).so it is up to assesse to deside how to go with provisions of income tax

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CA Pallav Singhania

CA Pallav Singhania (Expert)
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25 October 2013 No NIL TDS return isn't mandatory,
As NIL TDS return will not be permissible...

Ganeshbabu K

Ganeshbabu K (Expert)
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25 October 2013 I DO AGREE THAT NIL TDS RETURN NOT MANDATORY BUT,,THAT IS ONLT FOR PURE NIL TDS RETURN,,

Kindly refer to below points which makes my opinion stands correct
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1)we all knows that TIN-NSDL has released new FVU 4.0 applicable w.e.f. from 01.10.2013 under which it has been specified that
"ETS RETURN HAVING NIL CHALLAN WITH OUT DEDUCTEE DETAILS CANNOT BE FILED"Means ETDS return not possible only for "PURE NIL TDS RETURN"
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2)let me clear,we can say NIL tds returns is two types,
(i)**NIL TDS RETURN WHICH have only NIL AMOUNT CHALLAN AND NIL DEDUCTEE DETAILS(Which can be called as PURE NIL TDS RETURN-which is not mandatory to file)
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(ii)NIL TDS RETURN HAVING NIL AMOUNT CHALLAN AND HAVING DEDUCTEE DETAILS ALONG WITH REMARKS " tag A,B,T,Z,Y."

**HOPE ALL ARE AWARE OF TAGS MENTIONED IN ABOVE POINT
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3)KINDLY REFER TO MY ARTICLE FROM BELOW LINK WHICH CLEARLY CLARIFIES THE NECESSITY FOR FILING TDS RETURNS WITH NIL DEDUCTION ON PAYMENT TO TRANSPORTERS
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WHICH GOES WITH TAG "T"
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YOU CAN ALSO REFER TO INCOME TAX RULE 31A,but well clarified in my article
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https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp#.Umo9GfmnqQA
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CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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25 October 2013 Agree with ganeshbabu k sir..............

thanks sir.

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Querist : Anonymous

Querist : Anonymous (Querist)

28 October 2013 Thank you all for your valued comments