Interest/penalty if tds return corrected?
This query is : Resolved
Swasti Purohit
(Querist)
08 April 2014
Is interest/penalty leviable if TDS return of Quarter 3 of FY 2013-14 corrected in april 2014?
CA.Sourabh Sethia
(Expert)
08 April 2014
it depends upon the type of correction made if there is addition of Challan and Deductee records there can be a possibility of Interest.
but if there is correction of arithmetical or other error no penalty or interest leviabe.
but if there is correction of arithmetical or other error no penalty or interest leviabe.
Swasti Purohit
(Querist)
09 April 2014
there is an addition of challan & deductee record.
What is the amount of interest?
What is the amount of interest?
Swasti Purohit
(Querist)
09 April 2014
the tds amount was deducted on 12.12.2013 & deposited on the same day. but by mistake, the same was not included in the return of Q3.
Now,on revising the Q 3 return, what is the interest rate? Is it 1.5% per month?
Now,on revising the Q 3 return, what is the interest rate? Is it 1.5% per month?
Swasti Purohit
(Querist)
09 April 2014
the tds amount was deducted on 12.12.2013 & deposited on the same day. but by mistake, the same was not included in the return of Q3.
Now,on revising the Q 3 return, what is the interest rate? Is it 1.5% per month?
Now,on revising the Q 3 return, what is the interest rate? Is it 1.5% per month?
CA.Sourabh Sethia
(Expert)
10 April 2014
No Interest is required in this case as this is addition due to error or omission.
you can revise the returns directly.
you can revise the returns directly.
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