Tds penalty
This query is : Resolved
Ganeshbabu K
(Expert)
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
.
.
Kailas Mate
(Expert)
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.
Ganeshbabu K
(Expert)
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.
Kailas Mate
(Expert)
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/
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