TDS Return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2011 Our company deducted TDS on Interest in the month of march 2011 only. Shall we file TDS return for all (4) or only last quarter.??

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
Follow

04 May 2011 Only last quarter return is to be filed.

MAHENDRA KUMAR BAGRECHA

MAHENDRA KUMAR BAGRECHA (Expert)
Follow

05 May 2011 Dear Sir,
As per my understanding, Even if no TDS deduction happened, still we will have to file NIL eTDS returns quarterly after 1.10.2009. Correct me if i am wrong.

Upgrade to CAclubindia Pro. Subscribe Now!

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
Follow

05 May 2011 Section 200(3) of IT Act provides as follows:

(3) Any person deducting any sum on or after the 1st day of April, 2005 in
accordance with the foregoing provisions of this Chapter or, as the case may be,
any person being an employer referred to in sub-section (1A) of section 192 shall,
after paying the tax deducted to the credit of the Central Government within the
prescribed time, prepare such statements for such period as may be prescribed and deliver or cause to be delivered to the prescribed income-tax
authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within
such time as may be prescribed.

From the language of the above section it is clear that one has to file TDS return only if the person has deducted and paid the TDS.

MAHENDRA KUMAR BAGRECHA

MAHENDRA KUMAR BAGRECHA (Expert)
Follow

12 May 2011 In case tds not deducted on transporter payment if they have provided PAN,even than we need to submit eTDS returns as per revised fvu 3.0 issued by NSDL.