Tds & late filing fee u/s 234e

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 February 2015 Is late filing fee applicable if Nil TDS return filed earlier on or before due date but subsequently revised after due date???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 February 2015 In such cases late filing fees not applicable.
Till recently TDS deductor were use to submit TDS return for a Quarter even if they have not deducted and paid any TDS for a specific Quarter. If Assessee do not have any TDS liability for a specific quarter and he still submits a TDS return such Return is called NIL TDS Return. CBDT has not made provided that “TDS statement can not be filed without quoting any valid challan and deductee row. “ Which implies that Nil TDS return is no more permissible. Earlier Asssessee use to submit NIL TDS return to avoid penalty for late Filing of TDS Return as they use to revise the return post filing of Nil Return. Now the same is not possible. A good move by the CBDT!! The move also clear confusion about Filing of NIL TDS return and it is clear now that Tax Deductor are not required to file NIL Tds return.

Querist : Anonymous

Querist : Anonymous (Querist)

11 February 2015 I did not get your point.

Please make it clear-

1.Can we file nil TDS return for 2nd Q 2014-15?

2.If Nil TDS return filed within due date then it can later be revised with relevant information ??? and without fee u/s 234E

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 February 2015 1. Now you can't file nil TDS return.
2. Earlier nil tds return filed within due date can be revised later without fee u/s 234E.

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