Intimation u/s 200a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 February 2014 Dear sir,

Any last date for revising Return u/s 200a notice of TDS

any Interest charge if Revised Return on Beyond the date specifying on notice ,

How to calculate it ?

Please help.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 February 2014 No due date for revising the TDS Return. But if any notice received then either demand has to be paid or return has to be revised within 1 month.

Querist : Anonymous

Querist : Anonymous (Querist)

19 February 2014 how to bifurcate interest u/s 220(2) and additional late payment interest against the processing of latest correction in TDS notice u/s 154 Both have differ ?

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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01 August 2024 ### Intimation Under Section 200A and Revising TDS Returns

**Section 200A** deals with the processing of TDS returns and the intimation that is sent to the deductor regarding discrepancies or defaults in TDS filing. If you have received a notice under Section 200A and need to revise the TDS return, here’s how you can handle it:

### **1. Last Date for Revising TDS Return**

- **No Specific Deadline for Revising**: There is no strict last date for revising a TDS return under Section 200A, but the revision should be done promptly to avoid further penalties and interest. Ideally, it should be done before the intimation is processed or before the notice under Section 220 is issued.

### **2. Interest Charges for Late Revision**

- **Interest Calculation**: Interest may be charged if the revised return is submitted after the due date specified in the notice. The interest can be calculated as follows:

- **Interest Under Section 220(2)**: This is the interest on the amount of tax that remains unpaid after the due date. It is typically charged at 1% per month or part of a month on the amount outstanding.
- **Additional Interest on Late Payment**: This interest is charged on late payment of TDS. The rate and calculation method may depend on the specific nature of the default and the delay.

### **3. Bifurcation of Interest**

- **Interest Under Section 220(2)**: This interest is charged for late payment of tax and is applicable if the tax demand is not paid by the due date. It is computed from the due date of payment until the date of actual payment.

- **Interest for Late Filing**: If the correction or revision of the TDS return results in additional tax liability or penalties, interest may be charged on this late payment.

**Example Calculation:**

1. **Interest Under Section 220(2)**:
- Suppose ₹10,000 was due on 15th March, but it was paid on 15th August.
- Interest = ₹10,000 × 1% × 5 months = ₹500

2. **Interest on Late Payment**:
- This could vary based on the period of delay and specific circumstances.

### **4. Processing Correction in TDS Return**

- **Filing Revised TDS Return**: To correct errors, you need to file a revised TDS return with the updated details. Ensure that the revised return is filed accurately to reflect the correct tax deducted and deposited.

- **Response to Notice Under Section 154**: If you receive a notice under Section 154 related to the correction, address the discrepancies mentioned and provide the necessary corrections in the revised TDS return.

### **Steps to Follow**

1. **Prepare Revised TDS Return**: Correct the errors and file the revised return online through the TDS portal.
2. **Calculate and Pay Interest**: Compute interest based on the delay and outstanding amounts, and pay it if applicable.
3. **Respond to Notices**: If there’s a notice under Section 154 or any other section, respond with the correct information and proof of payment of any interest or tax due.
4. **Keep Records**: Maintain records of all communications, revised returns, and proofs of payment for future reference.

**Consultation**: It’s advisable to consult with a tax professional or advisor to ensure compliance and accurate calculations, especially in complex cases involving multiple corrections and interest calculations.

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