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3cd reporting about interest on tds

TDS / TCS 1778 views 3 replies

Hi,

An assessee has deducted Tds and paid late for Ay 2014-15. He has not paid any interest. According to my calculation the interest for late payment works out to Rs 59/- for the year. He has not received any demand for this.

While reporting in 3CD clause 34(c) should I ask him to pay it and report it? Or should I ignore it as it is below Rs 100?

 

Thanks.

Replies (3)

Clause 34 (c) of  3CD asks "Whether the assessee is liable to pay interest under section 201(1A)" so i think u shud report it (irrespective of its amt and non receipt of any demand) since  in ur case assessee is liable for payment of interest and u shud also ask him to pay this amount.                   I hope u've got ur answer. 

Yes. It should be included in Form 3CD.

Regards,

The deductor assessee will surely receive notice from TRACES. Actual receipt may not happen, the assessee should verify the TDS default tab/link under its log IN in TRACES at reasonably regular intervals once the Form 26Q/24Q is processed.

Thanks,


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