Penalty on nil tds return
This query is : Resolved
SUSHIL GUPTA
(Querist)
24 September 2014
Hello everyone,
I want to know that is there any penalty on non filing of Nil TDS Return of FY 2012-13.
My co. has sold its business to other co. but not Name on 01.09.2012. We are filling every year Income Tax return but not filing Nil TDS Return since when it has sold its business.
My query is that is there any penalty on non filing of Nil TDS Return.
Thanks
Sushil Gupta
08588966683
I want to know that is there any penalty on non filing of Nil TDS Return of FY 2012-13.
My co. has sold its business to other co. but not Name on 01.09.2012. We are filling every year Income Tax return but not filing Nil TDS Return since when it has sold its business.
My query is that is there any penalty on non filing of Nil TDS Return.
Thanks
Sushil Gupta
08588966683
Nikhil Kaushik
(Expert)
24 September 2014
no. there wont be any penalty...........
25 September 2014
the ans is no...................................
SUSHIL GUPTA
(Querist)
25 September 2014
Dear Sir,
Thanks for your reply. Further i request you to send circular related this.
Thanks for your reply. Further i request you to send circular related this.
Nikhil Kaushik
(Expert)
25 September 2014
please refer section 234E. the penalty is limited to tax deductible...if there is no tax deduction, there can be no penalty
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