Yogi Saraf (Audits & Taxation) (86 Points)
24 December 2010With the recent amendment of non deduction of TDS in case of transporters where PAN is furnished by them, are the transaction details of the transporters (where TDS not deducted) still required to be entered in the quarterly TDS returns?
Please reply..
ANKUR KUMAR
(CA-FINAL)
(39 Points)
Replied 24 December 2010
Dear,
No details are required to be given in the TDS Return of the Transporters who furnishes their PAN No.
Just for the reason that No TDS is being deducted from thier payment.
CA KRISHNA KUMAR DARUKA
(CHARTERED ACCOUNTANT)
(4458 Points)
Replied 24 December 2010
NSDL has released a new software(fvu) for Accounting Year 10-11, in which there is a provision for entering payment to transporters on which no tax has been deducted. I, therefore, feel that we should report these payments.
CMA. CS. Sanjay Gupta
("PROUD TO BE AN INDIAN")
(114220 Points)
Replied 24 December 2010
Yes Details are required to be mentioned. For details see below link----
CA Asmita Waghmare
(Chartered Accountant and works a Equity Research Analyst)
(107 Points)
Replied 25 December 2010
YES
I MYSELF HAVE FILED E-TDS RETURN RELATING SAME ISSUE.
WE HAVE TO REPORT SUCH PAYMENTS MADE TO TRANSPORTERS ALONG WITH THE PAN.WHEN WE MAKE SUCH ENTRY IN DEDUCTEE'S TDS INFO SECTION, WE HAVE TO SELECT OPTION 'T'(i.e for transportors) UNDER 'REASONS FOR NO/LOWER DEDUCTION' COLUMN.
POST 1/10/2010, A NEW SOFTWARE HAVE BEEN RELEASED BY NSDL, WHICH ENABLES ENTERING THE 'T' OPTION.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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