Tax Audit & TDS Return

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Anwar Shaikh (Querist)
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22 April 2009 Hi

If an assessee has tax audit u/s 44AB. is he is liable to file compulsory TDS return for each qtr. Even if no transaction are there, is he is liable to file NIL return.

Can u give me any circular, notification in this regards.

Anwar Shaikh

Brij Bhushan Sangal

Brij Bhushan Sangal (Expert)
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22 April 2009 no, not any such rule exist

CMA KNVV Sri Vidya - Sri Kanth

CMA KNVV Sri Vidya - Sri Kanth (Expert)
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22 April 2009 No such rule

taxindiaconnect

taxindiaconnect (Expert)
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01 May 2009 As per section 200 (3) of IT Act Any person deducting any sum on or after the 1st day of April, 2005 in accordance with the provisions of Chapter XVII u/s section 192 shall, after paying the tax deducted to the credit of the Central Government within the prescribed time, prepare quarterly statements. and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised.
Thus the obligation of preparing the TDS return starts only if the assessee has deducted any tax under any section of the chapter XVII of IT act and paid the said amount to the Govt. This means that unless there is deduction of tax at source and the payment thereof, no TDS return / quarterly statement is required to be submitted. Kitty. Thus a company liable to be audited u/s 44AB, not having deducted any tax during the period is not required to file the return.

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