Tds nil return

This query is : Resolved

prem kumar (Querist)
Follow

30 April 2015 Hello Experts,

Q4-2014-15 financial year, no tds deducted and no liabilities. i am going file a nil return, but TRP's said don't submit TDS nil return, now this is not required....

how, they says correct or not...

no circular.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

30 April 2015 Yes what ever they say is correct but it is better to file the nil declaration.
Ques: Is it mandatory to file a NIL Declaration?
Ans: As per Income Tax Act’1961 and the Income Tax Rules it is not mandatory file a NIL TDS Return.
Since filing NIL TDS Return was neither mandatory nor possible. The CPC (TDS) was having a problem distinguishing between:
Deductors required to file return but not filed the TDS Return.
Deductors not required to file return.
Therefore, In order to prove that the deductor was not required to file a TDS Return, it is advisable that the deductors should file A NIL Declaration of TDS Statement.
Ques: Where can I file a declaration for not filing a TDS Statement?
Ans: A Declaration for not filing the TDS Statement can filed by logging into the CPC (TDS) Website.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now