Tds - deduction for interest
This query is : Resolved
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...
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...
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.
you can backdate the Form 15G.
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