Tds penalty
This query is : Resolved
05 July 2014
if dont file nill tds return what is the penalty for that
05 July 2014
Nil TDS return not required to file
.
.
But Nil TDS return means where there is no deductee details and challan details
.
.
suppose
.
u have received nil deduction certificates under 197,or payment to transporter
.
.
TDS return filing mandatory by way of ammended rule 31A
.
see my article as a sample
https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp#.U7fIrfmSx1Y
.
.
.
.
But Nil TDS return means where there is no deductee details and challan details
.
.
suppose
.
u have received nil deduction certificates under 197,or payment to transporter
.
.
TDS return filing mandatory by way of ammended rule 31A
.
see my article as a sample
https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp#.U7fIrfmSx1Y
.
.
05 July 2014
The CBDT 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.
05 July 2014
If it is pure nil tds return no problem as you dont need to file
.
.
but as said above if you have any transporter payments , or received nil deduction certificates
.
.
even though you may come out of purview of 234E fee you may be liable to get penalty under 271H
.
.
Section 271H – Penalty will be levied for below
1)Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,If deductor exceeds one year time limit to File TDS Statement.
2)If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.
.
.
but as said above if you have any transporter payments , or received nil deduction certificates
.
.
even though you may come out of purview of 234E fee you may be liable to get penalty under 271H
.
.
Section 271H – Penalty will be levied for below
1)Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,If deductor exceeds one year time limit to File TDS Statement.
2)If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.
05 July 2014
The CBDT 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.
05 July 2014
In addition you are also required to file onlin Declaration for Non - Filing by loging in @ https://www.tdscpc.gov.in/
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Last year TDS Claim
- Long Term Service award taxability in hands of company
- NON- SUBMISSION OF LLP FORM 3
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- LTCG for Assmt year 26-27
- Free lancer income
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
