TDS

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2010 in case there is no employee having taxable salary & company is not making any deduciton for TDS,is still filling of form 24Q mandatory?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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21 June 2010 If the TDS not deducted and paid is that Nil TDS return not mandatory,so no need to file

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 June 2010 AGREE. NO NEED TO FILE NIL RETURN.

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CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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21 June 2010 if the assessee is liable to deduct tax than nil tds return need to be file even if no tds has been deducted.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 June 2010 Devanshi Ji What is meant by "liable to deduct TDS"?
Does it mean the assessee falling under tax audit and have a valid TAN?
If yes than asseessee will have to file NIL returns for form 24Q, 26Q, 27Q & 27EQ even if it does not deduct any TDS or TCS.

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2010 i think what is mean by Devanshi ji ,is in case an employee is drawing a salary which is otherwise taxable as per the tax slab rate but due to various deductions/exemptions on a/c of any house property loss or section 80 deduction his income fall below taxable limit ,in that case ,co should file Nil return.Can any one clarify?

mohinder kansal

mohinder kansal (Expert)
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22 June 2010 as per present provisions, in this case there is no need to file the TDS return.

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2010 Is there any change in the provisions in this regard from April 2010 ,or still the same provision is there & there is no need to file the Nil return

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 June 2010 NO NEED TO FILE NIL RETURN.

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2010 Thanks