Revised Tds Return Q3 FY 2022-2023

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This query is : Resolved

Quick Summary

This discussion addresses queries regarding revising TDS returns for Q3 FY 2022-23. It clarifies that entries can be removed, and cash payments for commission have limits. The thread also reassures users that filing a revised TDS return due to clerical errors like incorrect PAN numbers typically incurs no penalty. Finally, it provides guidance on applicable TDS sections for investment plans, recommending Section 194A.

praveen Nautiyal

praveen Nautiyal (Querist)

02 August 2023 Dear Sir,

My query is that one TDS entry needs to be removed from the TDS return for Q3 FY 2022-23. we paid to this amount in cash to person (commission). Can we remove this entry or any charges for revising TDS return or can we face any notice from ITD?
and please tell me how much cash allow to pay as commission.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

02 August 2023 Yes, you can remove the entry.
Rs 15000 can be paid through bank without TDS.

praveen Nautiyal

praveen Nautiyal (Querist)

03 August 2023

Dear Sir,

We want to revise our tds return of Financial Year 2022-23, due to clerical mistake, we put the wrong pan number instead of right pan number only, nothing changes in any figure, but according to our Tax consultant, he told us ,there is lots of penalty impose on you if u file revise TDS Return.

Please tell me how much penalty of filing of Revise Tds Return. Period - Q1, Q2 & Q3.

Thanks & Regards,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

03 August 2023 No penalty .....
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Message likes : 1 times

praveen Nautiyal

praveen Nautiyal (Querist)

04 August 2023 I am grateful for your prompt response to this matter.
Thank U Sir.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

04 August 2023 You are welcome..
.....

praveen Nautiyal

praveen Nautiyal (Querist)

07 August 2023 Dear Sir,
Our Company is Public Ltd. We offer our customers an Investment Plan Agreemnt:-
Agreements Clause:-
Our Company is group of companies doing its business as Real Estate Firm doing its business in benefits in insfrastructure development, Plotting, Flats, Construction.
“Investment” means all the various Investments including, Real Estate and asset-backed investments in accordance with the terms of this agreement that have been, are being or will be entered into by the investment Manager for and on account of the investors.
The Compnay will pay total amount of investor (including Principal amount and Profit sharing amount) to the customer against his investment.
The Company will pay their profit sharing amount on monthly basis on their respective bank accounts.

Now, My question is that, whose Tds Section applicable on this seniro, Section 193 (Interest on Securities) or Section 194A (interest other than interest on securities).

Thanks & Regards,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

07 August 2023 Deduct 194A TDS...
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