if TDS is not deducted & assessee has furnished form 15G for such non deduction then what reason should be selected while e-filling of TDS return A,B,C,T,Y,S,Z.
samiksha nagar (Student CA Final) (168 Points)
07 January 2014if TDS is not deducted & assessee has furnished form 15G for such non deduction then what reason should be selected while e-filling of TDS return A,B,C,T,Y,S,Z.
Deepak Gupta
(CA Student)
(15922 Points)
Replied 07 January 2014
| Originally posted by : samiksha nagar | ||
 |
if TDS is not deducted & assessee has furnished form 15G for such non deduction then what reason should be selected while e-filling of TDS return A,B,C,T,Y,S,Z. |  |
| Particulars | Code | Whether PAN mandatory |
| In case of lower deduction/no deduction on account of certificate under section 197 | A | Yes |
| In case of no deduction on account of declaration under section 197A. Allowed only for section 194, 194A, 194EE and 193 | B | Yes |
| In case of deduction of tax at higher rate due to non-availability of PAN | C | No |
| In case of Transporter transaction and valid PAN is provided | T | Yes |
| Transaction where tax not been deducted as amount paid/credited to the vendor/party has not exceeded the threshold limit (as per the provisions of income tax act). Applicable for sections 193,194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194G, 194H, 194I, 194J, 194LA. | Y | Yes |
| For software acquired under section 194J (Notification 21/2012). Applicable from FY 2012-13 onwards. | S | Yes |
| In case of no deduction on account of payment under section 197A (1F). Applicable from FY 2013-14 onwards. | Z | Yes |
Deepak Gupta
(CA Student)
(15922 Points)
Replied 09 January 2014
Download the file attached herewith for more clarity on Flag ‘Y’ (refer to the example). Then it will be clear as to why it is not used in case of Form. 15G transactions.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
