Tds notice
This query is : Resolved
20 February 2014
I have recd tds notice of Q2 of fy 12-13 of 26Q and i want to revise this notice in tds return.so shud i revised Q2 or respective Q in which payment is made?and how can i check.Actually my Accountant Give justification report for it and in that report only challen no,amt,date etc mentioned it without chq no.so how is it possible?
20 February 2014
You need to revise respective quarters in which you made the payment
21 February 2014
but how can i check.it means my ca give justification report for it.and nothing has mentioned in this report regarding chq no detail
Also tell me last date to revise TDS return
thank u in advance
Also tell me last date to revise TDS return
thank u in advance
24 February 2014
Can a Salaried Person take exemption for invt. in Mutual Fund?What is Rules for that,maximum invt amt allowed to invest.Etc
27 July 2025
Let's break your questions down one by one:
---
### 1. **Regarding TDS Notice & Revision of TDS Return:**
* **If you received a TDS notice for Q2 of FY 2012-13** and you want to revise your TDS return:
* You should **revise the TDS return for the *respective quarter in which the payment was actually made***.
* For example, if the payment was made in Q1 but reflected in Q2 incorrectly, you revise the Q1 return.
* You can check the actual payment dates and amounts from your payment and accounting records or bank statements to identify the correct quarter.
* The **Justification Report** prepared by your CA only contains mismatch details (like challan number, amount, date, etc.), but it may not have cheque number details, as cheque numbers are not mandatory in TDS return filings.
* **Last date to revise TDS return:**
* Normally, a TDS return can be revised any time **before the completion of the relevant Assessment Year**.
* For FY 2012-13 (AY 2013-14), the due date to revise would typically be **31 March 2014**.
* However, if the deadline is over, you may need to approach the Assessing Officer for rectification or other remedies.
---
### 2. **Exemption on Mutual Fund Investments for Salaried Persons:**
* Salaried individuals can invest in mutual funds and **claim tax benefits under certain sections**:
* **Equity Linked Savings Scheme (ELSS):**
* Investments up to **₹1.5 lakh per financial year** qualify for deduction under **Section 80C**.
* Lock-in period is 3 years.
* **Non-ELSS Mutual Funds:**
* No deduction, but capital gains tax rules apply.
* There is **no overall exemption on the investment amount** other than what is allowed under 80C and other specific provisions.
---
If you want, I can help you with:
* Steps to revise your TDS return online,
* Details on how to interpret the Justification Report,
* More about mutual fund tax benefits and investment planning.
Just let me know!
---
### 1. **Regarding TDS Notice & Revision of TDS Return:**
* **If you received a TDS notice for Q2 of FY 2012-13** and you want to revise your TDS return:
* You should **revise the TDS return for the *respective quarter in which the payment was actually made***.
* For example, if the payment was made in Q1 but reflected in Q2 incorrectly, you revise the Q1 return.
* You can check the actual payment dates and amounts from your payment and accounting records or bank statements to identify the correct quarter.
* The **Justification Report** prepared by your CA only contains mismatch details (like challan number, amount, date, etc.), but it may not have cheque number details, as cheque numbers are not mandatory in TDS return filings.
* **Last date to revise TDS return:**
* Normally, a TDS return can be revised any time **before the completion of the relevant Assessment Year**.
* For FY 2012-13 (AY 2013-14), the due date to revise would typically be **31 March 2014**.
* However, if the deadline is over, you may need to approach the Assessing Officer for rectification or other remedies.
---
### 2. **Exemption on Mutual Fund Investments for Salaried Persons:**
* Salaried individuals can invest in mutual funds and **claim tax benefits under certain sections**:
* **Equity Linked Savings Scheme (ELSS):**
* Investments up to **₹1.5 lakh per financial year** qualify for deduction under **Section 80C**.
* Lock-in period is 3 years.
* **Non-ELSS Mutual Funds:**
* No deduction, but capital gains tax rules apply.
* There is **no overall exemption on the investment amount** other than what is allowed under 80C and other specific provisions.
---
If you want, I can help you with:
* Steps to revise your TDS return online,
* Details on how to interpret the Justification Report,
* More about mutual fund tax benefits and investment planning.
Just let me know!
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