nil tds return is mondatory n u hav to file the same.
Ram Ji Srivastava
(Astt Manager Accounts)
(218 Points)
Replied 25 April 2012
nil tds return is mondatory n u hav to file the same.
| Originally posted by : hitesh | ||
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there is no need to file NIL Return.. just file a letter stating the facts that no TDS was required to be deducted along with the form received (if any)., thats all.. |
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Yes it is very true, inform your TDS ITO that you were not having any TDS liability for the quarter and year under consideration, hence there is no need to file return. However, you can not say that there was no TAN no. allotted to you so TDS return was not filed
| Originally posted by : Nipun Kumar Gupta | ||
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As per the latest amendments, sub-rule (4) of Rule 31A of Income Tax on ‘Quarterly statement of deduction of tax under sub-section (3) of section 200’ reads (4) The deductor at the time of preparing statements of tax deducted shall,— (i) quote his tax deduction and collection account number (TAN) in the statement; (ii) quote his permanent account number (PAN) in the statement except in the case where the deductor is an office of the Government; (iii) quote the permanent account number of all deductees; (iv) furnish particulars of the tax paid to the Central Government including book identification number or challan identification number, as the case may be; (v) furnish particulars of amount paid or credited on which tax was not deducted in view of the issue of certificate of no deduction of tax under section 197 by the Assessing Officer of the payee; (vi) furnish particulars of amount paid or credited on which tax was not deducted in view of the compliance of provisions of sub-section (6) of section 194C by the payee; (vii) furnish particulars of amount paid or credited on which tax was not deducted in view of the furnishing of declaration under sub-section (1) or sub-section (1A) or sub-section (IC) of section 197A by the payee. Hence in case no TDS has been deducted due to any of the above 3 reasons, particulars of amount paid or credited have to still be furnished. Therefore, even NIL TDS STATEMENTS shall be filed. |
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To,
Shri Nipunji,
I thank you very much that you have reproduced section itself for the ready refrence but above quoted lines do not say any period from when such nil return file has became mendatory , and also the retrospective your from when this will be applicable
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