Provisional receipt-tds

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Querist : Anonymous

Querist : Anonymous (Querist)

01 November 2013 What is provisional receipt in TDS?????

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 November 2013 The provisional receipt is the document /number issued by TIN-FC which shall be considered as proof of e-TDS/TCS return filed by you.

Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2013 But tds return is filed by only deductor then how it will useful for deductee???? and hen the povisional receipt is issued??

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 November 2013 Yes. it is of no use to the deductee. However, filing of TDS return is the first step for the deductee to get TDS credit. So it is important in that sense.

The provisional receipt is issued at the time of filing the TDS return.

Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2013 thank u sir... but still thee is some confusion.
An individual has to file tds return?? or he has to file only IT return?? TDS is deducted in sept'13. So an assessee will file IT retun before July'14?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 November 2013 dont confuse things. TDS returns are filed in the capacity of deductor.

Income tax return is filed in the capacity of an assessee. they are two totally distinct things.

You are required to file TDS return for each quarter. Whereas income tax return is filed annually.

I hope this clears the confusion.

Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2013 But i'm an deductee then why i have to file TDS return? as you said earlier that if your income is exempted and tds is deducted then income tax Dept. proceed your refund and you have to file only your IT return.sorry.but plz clear confusion

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 November 2013 who asked you to file TDS return??? your query is what is provisional receipt and how is it beneficial to the deductee.

Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2013 thank you so much

Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2013 your guidance is really helpful

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