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Q4 TDS

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This query is : Resolved

Rama_Hyd (Querist)

06 July 2011 Dear Sir, TDS DEDUCTED & DEPOSITED INTO TAX DEPT A/C BUT NOT SUBMITTED AS PER FORMAT Q4 TDS EMPLOYEES SALARY DATA TILL TODAY FOR THE YR 2010-11. IF NOT SUBMITTING THE Q4 DATA EMPLOYEE WISE, WE CAN FACE ANY PROBLEM FROM IT DEPT.IS THERE ANY PENLATY FOR NON-SUBMISSION OF Q4.PLZZ INFORM ME DETAILED & LAST DATE TO SUBMIT.

thanks in advance

CA CS CMA Srinivasan N

CA CS CMA Srinivasan N (Expert)

06 July 2011 Hi,
The TDS returns are required to be submitted in a specific format to ensure that the correct credit is given to deductee's. If the employee wise details are not furnished the credits as per NSDL and the form 16 will not match. Accordingly you will get a notice from Income Tax department to file a revised return.
There is no penalty if the revised return is filed with the details. So please go ahead and file the revised return though NSDL.

Rgds
Srinivasan

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