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Tds - deduction for interest

This query is : Resolved 
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(Querist)
05 May 2014 Dear Experts,
We have paid interest to Mr. X (Individual/HUF) In April 2013 amt of Rs.25000/- and Rs. 25000/- in Jan 2014 and we have not deducted any TDS in this interest amount. Now Mr. X was given Form 15G to us because their Income was below 2 Lakhs.
Question 1 : We are not deduct any TDS for this Interest paid due to 15G received is it correct?
Question 2 : How could we show this transactions in our TDS Return? In our Q1 – Return we are not shown any details in this transit and Q4 return due to file?
Advance Thanks to all...
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
06 May 2014 nothing has to be shown in Q4. you were required to show this in Q1 with flag "A"

you can backdate the Form 15G.
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