Tds nil return

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POONAM (Querist)
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11 October 2013 OUR SOFTWARE IS NOT GENERATING TDS NIL RETURN,
SO I WANT TO ASK THAT NON FILLING OF NIL RETURN LEAVY ANY PANALTY OR NOT?

CA Pallav Singhania

CA Pallav Singhania (Expert)
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11 October 2013 Its not mandatory to file TDS NIL return,
As per latest notification,
CBDT made a great move Which implies that Nil TDS return is no more permissible..

https://taxguru.in/income-tax/nil-tds-return.html

regards,

POONAM

POONAM (Querist)
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11 October 2013 WHICH CIRCULAR NO.?

CA Pallav Singhania

CA Pallav Singhania (Expert)
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11 October 2013 Three days ago an expert mailed CPC TDS cell,

I've uploaded the email attachment..
https://www.caclubindia.com/forum/email-from-cpc-tds-for-tds-return-filing-267612.asp#.Ulai41NEOT4

However, TDS NIL return is not mandatory except in case 24Q 4th quarter...

POONAM

POONAM (Querist)
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11 October 2013 but i think 24Q is to be filed Compulsorily in case of company.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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11 October 2013 That's why I said Except 24Q...

Note: that the NIL return should have a value Greater than Zero as Total Amount Paid/Credited. Zero-Amount of Payment is not accepted by NSDL..

POONAM

POONAM (Querist)
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11 October 2013 BUT 24 Q IS ALSO OT GENERATING BY OUR SOFTWARE,SO WHAT I DO IN THIS CASE?

CA Pallav Singhania

CA Pallav Singhania (Expert)
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11 October 2013 You can file NIL TDS return,
There is no obligatory notice on it...

Go ahead...

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