Tds return

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mohit pathak (Querist)
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24 January 2018 Dear Sir/Madam,

I work in a company where they needed to deduct TDS on payment to Newspaper for advertisement, which they didn't. Since there was no TDS liability in that particular Qtr (say Q-2) they didn't furnish the return.
Now, since no TDS was deducted that time I passed an entry in Jan 18 showing TDS as a liability and TDS exp as an expense. I will pay this amount on or before 7th Feb.

My Question is.
Whether I need to file the return for that quarter (Q-2) in which TDS was required to be deducted?

CA Abhishek Goyal

CA Abhishek Goyal (Expert)
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24 January 2018 As you have said that return is not required to be filed in Qtr 2 as there was no liability at that time. So there is no need as liability was not there. But once you cross the limit, you are required to deduct the TDS on whole amount.

mohit pathak

mohit pathak (Querist)
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24 January 2018 Thank you for your response.
Little correction in Query "There was no OTHER liability in that Q-2"
Since TDS was deductible in that (advertisement) amount but not deducted and now we are paying that TDS from our own pocket.

CA Abhishek Goyal

CA Abhishek Goyal (Expert)
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24 January 2018 See if you are paying from your pocket, It will be your expense. So better File TDS Return of 2nd Qtr, and adjust amount from next payment of that Advt agency. It will be win win for both.

mohit pathak

mohit pathak (Querist)
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25 January 2018 Thank you for your reply, sir,
but If I file the return for 2nd Qtr now I will have to pay the late filing fee which is Rs 100 per day. Which will be around 8-9k (max to TDS amount)

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 January 2018 My suggestion is, since the actual deduction is in Jan-18 you can show the deduction in Jan-18 itself. in addition you need to pay the interest for late deduction.

A.Senthil Subramanian

A.Senthil Subramanian (Expert)
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28 January 2018 As per Ramesh sir's words, It would be better to file in Q4 return being Deduction is made in Jan only. You have to pay Interest @1% per month for late Deduction.

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