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TDS RERURN UNDER SEC 192B (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
22 July 2010

CAN I SUBMIT ANNUAL TDS OF SALARY IN PLACE OF QTR RETURN ?


Aditya Maheshwari

( Expert )
22 July 2010

No quarterly return is compulsory.


Nirpendra Singh

( Expert )
22 July 2010

If you want to file a annual return instead of quarterly than it will attract penalty of 1% per month of part of the will be treated as a month .
and Rs 100 per day is required to pay from the due date till the date of filing of return for non filing of tds return.



CMA. CS. Sanjay Gupta

( Expert )
22 July 2010

Agree with Aditya Ji.
You Cant file a annual return quarterly return is compulsory. Even if you file at the end of the year you will have to file 4 quarterly returns.
There is no penalty of 1% per month. Only Rs.100 per day penalty will be imposed for delay in filing quarterly returns.


Nirpendra Singh

( Expert )
22 July 2010

Let me clear
Mr Gupta there is no penalty of 1% for Late filing of ITR but it would be attracted if you have not deposited TDS on time.

Ok i thought that the author has not even deposited tax .

thanks


CMA. CS. Sanjay Gupta

( Expert )
22 July 2010

1% per month is rate of interest for late deposit of TDS. Which is not asked. Neither anything is mentioned by the person asking the question about nil TDS return. He simply wants to know whether he can file annual return instead of quarterly TDS return.
The question was correctly answered by Aditya Ji as we all know filing quarterly TDS return is compulsory. So no further clarification was required. Please check the reply given by you is still not correct.
For your kind information filing nil return is not compulsory i agree but filing form 24Q is compulsory even if no TDS deducted.

Please check this link---

http://www.caclubindia.com/experts/tds-426720.asp


Aditya Maheshwari

( Expert )
22 July 2010

Dear Nipendra
Please clarify what are u trying to say.

Its very confusing. Any please answer taking into account what query has been asked and not any thing not relevant to the query.


Author : Anonymous

( Author )
22 July 2010

thanx to every one..........


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