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NIL TDS RETURN (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
14 July 2011

A COMPANY HAS NOT DEDUCTED ANY TAX AT SOURCE DURING FIRST QUARTER.

WHETHER IT HAS TO FILE NIL TDS RETURN IN 24Q AND 26Q BOTH.

IF IT HAS DEDUCTED TAX FROM SALARY & FILED 24Q THEN WHETHER IT HAS TO FILE NIL TDS RETURN IN 26Q



WHETHER IT IS COMPULSORY TO FILE TDS RETURN


CMA Ramesh Krishnan

( Expert )
14 July 2011

No, NIL tds return not mandatory. except in the case of 24Q for 4th quarter


Author : Anonymous

( Author )
14 July 2011

WHETHER I CAN FILE NIL TDS RETURN FOR 26Q. BECAUSE ASSESSEE WANT TO FILE IT.


CMA Ramesh Krishnan

( Expert )
14 July 2011

Yes. you can file NIL tds return also. no restriction on filing NIL tds return.Because i told only not mandatory, but filing that having no problems


CMA. CS. Sanjay Gupta

( Expert )
15 July 2011

The points mentioned b Ramesh Ji can also be seen from the FAQ @ TIN-NSDL ste--

Link--

http://www.tin-nsdl.com/Form24QQ4.asp


C A S.S.Agarwal, M.Com.,LL.B,

( Expert )
15 July 2011

Since your company has registered for TDS you have to file the NIL TDS return. In case you fail to file the NIL return then you might get notice for non filing of Qtly return. So, do it.


Author : Anonymous

( Author )
15 July 2011

agrawal sir

whether it has to file NIL TDS return for both 26Q and 24Q. if TDS is NIL.


Amol Gopal Kabra (CA,CS,DISA)

( Expert )
16 July 2011

For 26Q there is no need to file Nil return. And a nil return wont get validated. So, how will one file it??? In case of 24Q, if you have filed returns for first 3 quarters, then regardless of whether there is deduction or not in 4th quarter you have to file 24Q.


sadashiv Rupchand Gaikwad

( Expert )
17 November 2012

As per Income tax Department requirement you may file nil return."Nil" return means not zero transaction, it may be below threshold/below ceiling limit turnover.


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