Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2012
SIR,
OUR FIRM IS UNDER 44AE.HENCE WE DID NOT DEDUCT TDS IN 2011-12.HENCE WE DID NOT FILE NIL TDS RETURN.WE HAD NOT CANCELLED OUR TDS REGISTRATION NO. IS IT NECESSARY TO FILE NIL TDS RETURN. AND IS THERE ANY PENALTY? NOW WHAT SHOULD WE DO AT THIS STAGE?
OUR FIRM IS UNDER 44AE.HENCE WE DID NOT DEDUCT TDS IN 2011-12.HENCE WE DID NOT FILE NIL TDS RETURN.WE HAD NOT CANCELLED OUR TDS REGISTRATION NO. IS IT NECESSARY TO FILE NIL TDS RETURN. AND IS THERE ANY PENALTY? NOW WHAT SHOULD WE DO AT THIS STAGE?
Amol S Joglekar
(Expert)
15 September 2012
For presumptive taxation entities, TDS provisions are not exempt. They are very much applicable.
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