Query relating to tds

This query is : Resolved

madhu krishna (Querist)
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25 September 2014 one of my client is passing an expense entry for rent on 31-03-2014.but he didnot deduct tds in that entry. he is deducting tds only at the time of payment which is in apr 2014

Also he is showing this expense in q1 return of A.Y 2015-16 instead of q4 return of A.Y 2014-2015.

in my opinion tds should be deducted at the time of crediting or payment whichever is earlier

so i want him to file revised return.is it possible?

tds is paid in may month by showing as expense of april month

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 September 2014 what your client has done is wrong...he should revise the the returns.

madhu krishna

madhu krishna (Querist)
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25 September 2014 whats the penalty for revised return? and also if we file revised return then march month tds is paid in may.so is he should pay interest on that?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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25 September 2014 yes there will be interest liability under section 201.

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