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Tds non deduction

samiksha nagar (Student CA Final) (168 Points)

07 January 2014

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.

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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

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samiksha nagar (Student CA Final) (168 Points)
Replied 08 January 2014

Deepak, "Y" cannot be used?

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.

Attached File : 555789 1269190 tds reporting transaction guidelines.pdf downloaded: 684 times