shriniwas (Accountant) (124 Points)
23 May 2008I have make the payment in january 08 after deducting TDS but TDS not deposited till date. TDS Returne of Jan08-March08 has been submitted. Pls advise what i can do regarding this. Now can i deposit TDS amt with interest & furnish a revise return.
Pls advise.
Thanks in advance.
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 23 May 2008
Yeah, Pay the TDS with 12% penalty immediately and filed a revised return ASAP. This time while submitting the revised return be careful and check all the TDS details., I think u can't submit return trice.
shriniwas
(Accountant)
(124 Points)
Replied 23 May 2008
Thank you Sir
TDS payable for Jan08 rs. 3607/-,12% penalty RS.433.
Pls. advise this is correct or not
biren thakkar
(accounts manager)
(231 Points)
Replied 23 May 2008
Dear All,
In the Case of Shriniwas it is only interest will be liabale to pay not penalty, & the interest rate will be 1% per month. so you have to pay according to that
I.e.on Rs. 3607 @ 5% for the 5 months.
by paying the said amount immediatly, please revised your jan to march 2008 quarterly return as the time is still left for that because the last date is 31/05/2008. for further clarification see the below link.
/forum/message_display.asp?group_id=7378&offset=1
Dear Sir,
I have submitted last TDs Returns far Q1 on June 2007 due to some reasons I have not submitted the TDS Returns for Q2, Q3 & Q4 so now I wanted to know that can I submit the returns for these quaters in a single returns and also tell me the penelties regarding this. Please suggest me how can tackle this problems.
Thanking you
With Regards
Arjun Kumar, 7/30, West Patel Nagar
Azmathullah Khan
(Accounts Manager)
(1386 Points)
Replied 28 May 2008
U may submit the Q2, Q3 & Q4 return immediately, if u have received the notice from the dept., other simply submit the notice.,
U avoid penalty u may have to give valid reason for not submitting the return at the timely dates.
CAclubindia
