No more nil tds return

Page no : 2

S.Somasundaram (Tax & Management Consultant) (38 Points)
Replied 20 October 2013

Of Course, I know gentlemen, you know how to file the NIL eTDS return.

But the interpretation in the above link is just like that there is no more NIL TDS Statements.

Please see the attachment and say whether NIL TDS Statements has to report some specified transactions or not.

Attached File : 152435 1241175 tds article.pdf downloaded: 466 times

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Remarks for Higher Deduction / lower or non-deduction IN Deductee Field Descripttion

1. Write "A" if "lower deduction" or "no deduction" is on account of a certificate under section 197.

2. Write "B" if no deduction is on account of declaration under section 197A.

3. Write "C" if deduction is on higher rate on account of non-furnishing of PAN by the deductee.

4. Write "Y" if no deduction is on account of payment below threshold limit specified in the Income-tax Act, 1961

5. Write "T" if no deduction is on account of deductee being transporter. PAN of deductee is mandatory.[section 194C(6)]

6. Write "Z" if no deduction is on account of payment being notified under section 197A(1F).

7. Write "S" if no TDS On Purchase of Standard Software" for under Section 194J applicable From FY 2012-13 onwards

Remarks for Higher Deduction / lower or non-deduction IN Deductee Field 1. Write "A" if "lower deduction" or "no deduction" is on account of a certificate under section 197. 2. Write "B" if no deduction is on account of declaration under section 197A. 3. Write "C" if deduction is on higher rate on account of non-furnishing of PAN by the deductee. 4. Write "Y" if no deduction is on account of payment below threshold limit specified in the Income-tax Act, 1961 5. Write "T" if no deduction is on account of deductee being transporter. PAN of deductee is mandatory.[section 194C(6)] 6. Write "Z" if no deduction is on account of payment being notified under section 197A(1F). 7. Write "S" if no TDS On Purchase of Standard Software" for under Section 194J applicable From FY 2012-13 onwards

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