Tds returns
This query is : Resolved
06 March 2014
can i show in tds return for non deduction of tds when he have
certificate of non deduction of tds
06 March 2014
if there is no-tds deduction certificate then no need to file tds return.
06 March 2014
It is mandatory on ur part to disclose particulars of amount paid with nil deduction bby virtue of non deduction certificate u/s197 from assessing officer
.
.
It is mandatory to provide details in tds return
.
By virtue of ammended rule 31A by notification 16/2011dated 29.03.2011 w.e.f from 1.4.2011
.
Same is the case with payment to transporters with nil deduction by 194C(6) also
.
To know more detailed refer my article in this regard
.
.
https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp
.
You may refer
.
.
It is mandatory to provide details in tds return
.
By virtue of ammended rule 31A by notification 16/2011dated 29.03.2011 w.e.f from 1.4.2011
.
Same is the case with payment to transporters with nil deduction by 194C(6) also
.
To know more detailed refer my article in this regard
.
.
https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp
.
You may refer
06 March 2014
but ganesh babu there is no need to file nil tds return.
06 March 2014
In ur case u mandatory to file nil tds return
.
Hope my article given link above may explained better
.
.
To incorporate nil rate entries due to sec 197 tag B is to be flagged in remarks coloumn of 26Q
.
Fyi refer below replies
.
.
https://www.caclubindia.com/experts/filing-nil-tds-returns-1653399.asp
.
Hope my article given link above may explained better
.
.
To incorporate nil rate entries due to sec 197 tag B is to be flagged in remarks coloumn of 26Q
.
Fyi refer below replies
.
.
https://www.caclubindia.com/experts/filing-nil-tds-returns-1653399.asp
06 March 2014
Dear tushar how can u support ur view
.
Come with some supporting
.
Come with some supporting
06 March 2014
Dear ganesh babu you are giving a supporting of your own article rather give some external supporting first.
06 March 2014
Article written by me but it is completely based on notifications given by income tax dept..
.
Please let me know on what basis u said no tds return required...
.
Kindly provide sec. Number ..or rule or notification which supports ur answer so that i can update my self
.
.
I beleive i have given due supporting to my answer and it is correct
.
Please let me know on what basis u said no tds return required...
.
Kindly provide sec. Number ..or rule or notification which supports ur answer so that i can update my self
.
.
I beleive i have given due supporting to my answer and it is correct
06 March 2014
non - filing of Nil TDS returns applies to cases where no payment itself was made which attracted TDS in normal provisions.
Also, please note that the whole issue that nil returns need not be filed comes from a email from tdscpc in october 2013, which stated that "TDS statement can not be filed without quoting any valid challan and deductee row."
in case where tax has not been deducted on account of 194C(6), withholding order etc, it would wrong to suggest that there is no valid deductee row.
Reference to Rule 31A gives you an example
where even a nil return will be compulsory because if you dont file the return where payments were made to transporters under 194C(6), it would violate 31A and 194C(6). There are cases where payments have been disallowed under 194c(6) on account of non-reflection in the TDS return.
you may also refer to FVU validation features posted at http://blog.tdsman.com/2013/09/key-features-fvu-version-4-0/
where it is stated that with nil challans are to be backed by appropriate flags in deductee sheets.
Also, please note that the whole issue that nil returns need not be filed comes from a email from tdscpc in october 2013, which stated that "TDS statement can not be filed without quoting any valid challan and deductee row."
in case where tax has not been deducted on account of 194C(6), withholding order etc, it would wrong to suggest that there is no valid deductee row.
Reference to Rule 31A gives you an example
where even a nil return will be compulsory because if you dont file the return where payments were made to transporters under 194C(6), it would violate 31A and 194C(6). There are cases where payments have been disallowed under 194c(6) on account of non-reflection in the TDS return.
you may also refer to FVU validation features posted at http://blog.tdsman.com/2013/09/key-features-fvu-version-4-0/
where it is stated that with nil challans are to be backed by appropriate flags in deductee sheets.
06 March 2014
Thanks nikhilji for sharing ur view
.
In case of author he have to use tag B against payments as per sec 197
.
.
.
In case of author he have to use tag B against payments as per sec 197
.
.
06 March 2014
Ganesh Bhai,
problem with TDS returns is that most of us file it wrong. specially where tds is not to be deducted.
for that reason only in our office we used to call TDS as Tedious..
problem with TDS returns is that most of us file it wrong. specially where tds is not to be deducted.
for that reason only in our office we used to call TDS as Tedious..
Message likes :
1 times
07 March 2014
I too noticed in many companies they have not updated and not following this ammended rule 31A
.
And having a thumb rule in accountants mind that tds returns are filing to give credit to deductors in their 26AS
.
We have to try to make it implement as far as possible
.
Problem is when tds returns is outsourced they will not disclose these type of transactions(194C(6), 197) to consultant at all----majority may not aware of this ammended which is effective from 1.4.2011
.
.
And having a thumb rule in accountants mind that tds returns are filing to give credit to deductors in their 26AS
.
We have to try to make it implement as far as possible
.
Problem is when tds returns is outsourced they will not disclose these type of transactions(194C(6), 197) to consultant at all----majority may not aware of this ammended which is effective from 1.4.2011
.
07 March 2014
ok i agree as i too founded rule 31A as ammended is correct in this case so tds return needs to filed in case of nil tds certificate is acquired from AO.
thanks for correcting.
thanks for correcting.
Message likes :
1 times
15 March 2014
superb job experts ...very very impressed with all of you
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
