TDS late Deposited

This query is : Resolved

Nitin Kumar (Querist)
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06 October 2008 Dear Members,

My proprietor ship firm has purchased a car on loan from non banking finance company. But we have failed to deducted & deposit TDS on interest paid till our 4th qtrly. We have deposited TDS after the objection raised by our CA before the finalisation of books & Income tax return & TDS return has been revised accordingly. Now the finance company has rejected our Form 16 A due to their I.T.Return has been already filed.

Now What can we do in this matter? Plz advice.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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06 October 2008 Actually they can make a revised return and claim. You will have to pursuade them!

Ravikumar.G

Ravikumar.G (Expert)
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06 October 2008 Sec 155(14) Amendment to give credit for TDS / TCS certificates not furnished with return but filed within 2 years from the end of the AY to which TDS / TCS relates.

Time Limit : Within 4 years from the end of the FY in which the TDS / TCS certificate was furnished.

Nitin Kumar

Nitin Kumar (Querist)
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06 October 2008 Thank You very much Mr.S.Srinivasaraghavan & Mr.Ravi Kumar for your prompt reply.

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