Tds

This query is : Resolved

Pratik (Querist)
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09 October 2013 In Q2 TDS, As per 1.10.2013 Rule New FVU Version not accepted Nil Return so, Please guide me, How to file Nil TDS Return or non-filling TDS Return. Please help me, Thanks

Janak Dalal

Janak Dalal (Expert)
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11 October 2013 If Assessee do not have any TDS liability for a specific quarter and he still submits a TDS return such Return is called NIL TDS Return.
But now TDS statement cannot be filed without quoting any valid challan and deductee row. That implies that Nil TDS return is no more permissible.
Earlier Asssessee use to submit NIL TDS return to avoid penalty for late Filing of TDS Return as they use to revise the return post filing of Nil Return. Now the same is not possible.
But if you are extra careful and want to file Return anyhow to keep continuity and to avoid any possible default Notice, you may pay nominal tax OF say Rs. 10/- and file return. In this case you can use PAN of your wife or employee and write his/her PAN.

MAHENDRA KUMAR BAGRECHA

MAHENDRA KUMAR BAGRECHA (Expert)
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12 October 2013 Hi,

We are facing real problem in the cases where transportation payments have happened without tds as PAN was available. Now, there is no challan and no payment made, how to show these payments in etds returns? As per section 194C, these transactions have to be informed to AO, otherwise there is a provision of penalty..

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