We have purchased branded software, on which tds is not applicable as per Circular No. 1323. NOW MY QUEY IS WHETHER SUCH NIL TDS TRANSACTIONS ARE REQUIRED TO SHOW IN TDS RETURNS I. E 26Q?
7 Replies
NITIN SABOO
(344 Points)
Replied 11 May 2019
yes, required to Show with reason of lower deduction as mention in different flag
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 11 May 2019
| Originally posted by : NITIN SABOO | ||
 |
yes, required to Show with reason of lower deduction as mention in different flag |  |
Bro.,
Query is not for lower deductio. Its for not applicable case.
nikita SHAH
(chartered accountant)
(194 Points)
Replied 12 May 2019
But when we don't deduct transporters tds we have to report as Nil tds , so on the same line these software purchase transactions are required or not
Zeal Bangdiwala
(Partner at N. Gamadia & Co.)
(363 Points)
Replied 16 May 2019
Yes they are required to be shown becoz they are excluded from the TDS provisions by way of exemption and not by way of non-applicability. There is a liability to deduct TDS but specific circular exempts the transaction so the same is required to be shown in Return.
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