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TDS on Salary (one challan for 4 Quarters)


If TDS on Salary deducted on 31-03-2010 for hole year by single challan i.e. (salary around 300000pa. separately payment made monthly basis without tds Rs. 25000) what will be impact on tds return for all four quarters the same is pending (The first three quarter should file nil return and in last quarter to be shown to gross amount)

 

 
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Company Secretary


Ya, you should file nil return for the 1st three quarters as not tds deducted. For the last qtr u can file the return upto 15th june 2010 for tds deducted and deposited.

 
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Dear Sameer, 

I dont find any provision under the Act for depositing the TDS at once in the year end. The liability under Section 192 arises as soon as you have credited or paid the salary (whichever is earlier).

So I think its better to file the quarterly returns deducting Tax from the salary for those respective periods and pay the TDS alongwith interest for the respective periods and NOT to file NIL returns.

 
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Originally posted by : CA Pankaj Warke

Dear Sameer, 

I dont find any provision under the Act for depositing the TDS at once in the year end. The liability under Section 192 arises as soon as you have credited or paid the salary (whichever is earlier).

So I think its better to file the quarterly returns deducting Tax from the salary for those respective periods and pay the TDS alongwith interest for the respective periods and NOT to file NIL returns.

 Dear Pankaj you are right. However  it is better to go as per suggestion of Sweta Jalan. It will only considered as late deduction of TDS. However penalty for late filling will not arise.

 
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Dear Bimal,

I think the penalty for late filing arises irrespective of TDS amount. 

So it can not be the excuse.

Please give your opinion.

 
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Dear Pankaj,

As the tax has not deducted in respactive quarter and deducted at the end then how the same can be incorporated in first three quarter return? I think In 4th quarter the same should be incorporated and TDS should be deposited with Interest payment. 

There may be due to declaration of employee about investment the tax liabilities not arise, but at the end if the investment has not made or details not submitted and Tax deducted it should be in last quarter return.

Penalty for Late filling is 100 per day of failure but maximum Tax amount, when TDS is zero then it should be Zero.

There may be other openion also.

 
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sir i want to know the basic of tds and tcs and filling challan and claim , step by step so please share any doc . file of tds. om tomar

 
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In 4th qtr return it will be shown and it will not affect the previous 3 qtr return.

Say if there is tax liability then pay interest on that tax and submit the return accordingly.

 
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Accounts Manager


dear friends,

please find the computation for fy 2010-2011



Attached File : 56 automated form 16 for assessment year 2011 12.xls downloaded 222 times
 
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tds challan for salary

 
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