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TDS Return for 3rd Quarter

Pravesh Kumar (Still Learning) (163 Points)

20 January 2010

Hi,

Please let me know whether we need to submit the etds return for the 3rd quarter for this financial year 2009-10 (i.e. from 01.09.2009-31.12.2009).

Please give me some support to let my management agree with this.

Thanks & Best Regards

Pravesh

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5 Replies

Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
Replied 21 January 2010

If you deducted TDS, then you have to submitt e-TDS return for 3rd Qtr.

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CA. RUPESH JOSHI (Chartered Accountant) (174 Points)
Replied 21 January 2010

Mr. Pravesh

Kindly let us know the base of your contention to discontinue filing e-TDS return from 3rd quarter onwards, assuming that you have deducted TDS

1 Like

PRAVEEN KUMAR (MBA (Finance) B.Com.(P)) (3443 Points)
Replied 21 January 2010

Dear Pravesh,

As there was a press release on 30.06.2009 from Income Tax Dept. stipulating for New TDS Procedure to be kept on hold,

I just wanted to confirm you that till the time a new announcement comes, TDS for FY 2009-10 & moreover June 09 onwards is to be paid thru Old Challan 281 & return be filled quarterly as eariler in Form 26Q, 247, 27Q.

The press release is following:

No.402/92/2006-MC (14 of 2009)

Government of India / Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

***

New Delhi dated 30th June 2009

PRESS RELEASE

The Central Board of Direct Taxes have further decided that the Notification No.

31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the

Income Tax Rules, 1962 shall be kept in abeyance for the time being.

Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or

any other earlier AY, may continue to file their returns without mentioning the Unique

Transaction Number (UTN) as required under the said Notification. The filing of such

returns shall be treated as valid and in compliance to the requirements under section 139

of the Income Tax Act, 1961.

Further, the date from which the Notification No. 31 / 2009 shall become

applicable on tax deducted at source (TDS) or tax collected at source (TCS) and

deposited during the current financial year shall be notified by the Central Board of

Direct Taxes subsequently.

All deductors / collectors of TDS / TCS may continue to deposit their TDS / TCS

and file their quarterly TDS / TCS returns as per procedure existing prior to issuance of

Notification No.31 / 2009 dated 25.3.2009.

XXX

1 Like

ds chauhan (Sr. Accounts Officer) (22 Points)
Replied 22 February 2010

Dear Sir, If somebody mentioned wrong Assessment year on TDS Challan. In the case what is the procedure to rectify the Assessment Year, sothat there will be no issues for future. please suggest. D S Chauhan

Ratan Deep Saxena (Asstt Manager (Accounts & Finance)) (2998 Points)
Replied 22 February 2010

Dear Mr. Chauhan,

You have to approach your Assessing Officer with an application containing the details of your PAN and the CIN and request him to carry out the necessary corrections.

Morever, this can be treated as advance tax for next fiscal.

Keep smiling......

regards,

ratan