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Tds on salaries

vijayalaxmi (Sr.Accountant) (71 Points)

27 June 2014

I am vijaya laxmi and I should make e-filing for Q3 & Q4 and also TDS on Salaries. I dont know the e-filing last date. one of my collegues are telling to file both the quarters in Q4 to avoid penalty.Please guide me immediately what should I do.

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9 Replies

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 27 June 2014

suggestion given by your friend is somewhat correct. if all challans have been paid between jan to march then you can file only q4 return to avoid late filing fees. but when tds challans have been paid before jan then you must file q3 return amd in that case you will need to pay late filing fees, which i suggest that you should pay before filing your return.

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Samir (Account Head) (207 Points)
Replied 27 June 2014

Last date q3 retun was 15 jan and 4q was 30 april

CA Saroj Kumar (Keen to learn something new every moments) (2588 Points)
Replied 27 June 2014

TDS rturn last date for Q4 is 15 may...

vijayalaxmi (Sr.Accountant) (71 Points)
Replied 28 June 2014

thanks for your suggestions.

I have paid the challans correctly but failed to do e-filing so can I do the e-filing for both in Q4 (i.e.,Q3 & Q4 and show it in Q4). Please reply me.

Pratik CA Final (Article Assitant) (102 Points)
Replied 28 June 2014

Yes you can e file TDS return but will be subjected to delay furninshing of return and charged 200 rs per day of delay which should not exceed the TDS amount..The last date was 15th may for Quarter 4 and 15th Jan for Quarter 3.

From the next time it will be beneficiary from your part to file a return even if it is incorrect and then subsequently make changes and file a revise return so as to avoid penalty of Rs.200 per day.

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Niral Gangar (Management Consulting Investment Advisory CA Practice) (100 Points)
Replied 28 June 2014

If challans pertain to period Oct - Dec it is not possible to combine it with Q4 and you will need to file separate returns

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 28 June 2014

@ vijaylakshmi..... you will have to file tds return for both quarters. and also pay late filing fees.

Jayam Ramesh K C (Group Chiefr Accountant) (106 Points)
Replied 29 June 2014

All members given their reply. Vijayalkakshmi now knows the importance of filing TDS on or before the due dates. The late filing fees need not be paid. Reference Karnataka high court and Kerala high court judgements.

Last date for filing Q3 is Jan 15

Last date for filing Q4 is May 15

Jayam Ramesh K C