CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Intimation re TDS nullification /error for our past filings.


Note for Forum

We have recd intimation re TDS nullification /error for our past filings.
The problem is:
We have wrongly deducted and paid a short amount of TDS for our vendor in a previous year; Now this difference amount needs to be paid.
Do we need to file a revised return for that year? Is there a limit to how far back TDS return can be revised?

Also, the Vendor will now receive an extra TDS credit for a previous year (assuming he filed his return on the earlier TDS dedcuted basis); How can the vendor CLAIM THIS BENEFIT in his IT returns;

IS THERE AN ALTERNATE WAY TO DEAL WITH SUCH A NULLIFICATION?


Yes you have to file revise TDS return rectifying all errors. There is no time limit & no restriction on no of TDS returns filled.

Thank you for your feedback; We were planning to revise our TDS return, however we were uncertain on how to deal with how to deal with this additional TDS (tax payment) that will accrue to our account since our returns are already assessed for that year. Will this TDS be refunded in any way?

ALso, the Vendor will now receive an extra TDS credit for a previous year (assuming he filed his return on the earlier TDS deducted basis); Can the vendor claim this benefit of a previous year in the current year?

How will the IT dept deal with this?


You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :





Trending Tags
cag
income tax
mca
ca exams
shares stock
tin nsdl
accounts
ca students
students
taxpayers
newgstreturn
gst
gst council meeting
rbi
law
traces
gst return
Service Tax
ca rankholder interview
dgft
sebi
Others
close
GST Live Class

FM by Grant Thornton    |    x