Tds return
This query is : Resolved
vinaykumar deshpande
(Querist)
31 December 2015
A PARTNERSHIP FIRM GOT TAN NO. IN THE MONTH OF FEB 2015. SO FART WE HAVE NOT DEDUCTED TDS SINCE WERE NOT LIABLE. ARE WE REQUIRED TO FILE A NIL RETURN/DECLARATION TO THE DEPT.? WHAT WILL BE THE PENALTY FOR NOT FILING THE RETURN..??
THANKS
THANKS
CA. Divyansh Agarwal
(Expert)
01 January 2016
Governing section for tds return provides that if tds is deducted then assessee need to file tds return hence if you have not deducted tds then not required to furnish return or nil declaration st. there is no penalty for such act in income tax act
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