Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 October 2014 If i'm making any payment which below the thresold limit say Rs. 20000 under section 194J,

Than shall i have to report this payment in the TDS return 26Q or NOT.

Please someone tell me

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
Follow

04 October 2014 No, only amount paid or payable on which TDS is deducted will be shown in 26Q.

Thanks.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

04 October 2014 Disagree with other expert's comment. If you may notice the TDS return flags, you may refer to Flag "Y" -

"Transaction where tax not been deducted as amount paid/credited to the vendor/party has not exceeded the threshold limit (as per the provisions of income tax act). Applicable for sections 193,194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194G, 194H, 194I, 194J, 194LA."

had the intention of the department was to exempt reporting of such transactions, there wont have been need to provide the above referred Flag.

Thus, it is amply cleared by the TDS return form itself that such returns are to be reported. Only where all the payments made during the quarter were below threshold limit and accordingly, no TDS was deducted, the deductor may file reasons for non-filing of return as "payments below threshold limit" However if you are filing the return and all payments made are to be provided.

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
Follow

05 October 2014 Thanks for correcting me Nikhil.

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2014 So, I have to report in the TDS return for the payment not exceeding the thresold limit.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

06 October 2014 yes...as per rules, you should....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

06 October 2014 yes correctly said by nikhil..................

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2014 Thanks top all the Experts

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Nikhil Vyas

Navneet Pratap Singh

Rajesh Surapaneni

arya yashu

Amit

Subscribe Now

Tds

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Senior Executive

GST CONSULTANCY

Accountant

Manager- Finance and Compliance

GST CONSULTANT