TDS late Deposited
This query is : Resolved
Nitin Kumar
(Querist)
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.
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
(Expert)
06 October 2008
Actually they can make a revised return and claim. You will have to pursuade them!
Ravikumar.G
(Expert)
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.
Time Limit : Within 4 years from the end of the FY in which the TDS / TCS certificate was furnished.
Nitin Kumar
(Querist)
06 October 2008
Thank You very much Mr.S.Srinivasaraghavan & Mr.Ravi Kumar for your prompt reply.
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