Etds defaults u/s 201(1a)

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arumoy

proprietor

38 Points Posted on 21 July 2015

HALLO.

MY QUERY IS RELATING TO DEFAULTS RAISED BY TDSCPC ON A/C OF INTEREST ON LATE PAYMENT OF TDS I.E. DEPOSITING TDS AFTER DUE DATES.. SUPPOSE, FOR THE QUARTER 1, I DEDUCTED TAX IN APRIL BUT DEPOSITED THAT AFTER DUE DATE, SAY ON JULY'7TH. ACCORDINGLY DEFAULTS WILL BE RAISED FOR 4 MONTHS @ 1.5%.. KNOWING THAT, WHILE PREPARING RETURN, IF I SHOW THAT THE BILLS RELATE TO JUNE (AND NOT OF APRIL WHICH WAS ACTUAL), THEN NO DEFAULTS SHOULD BE RAISED AS FOR BILLS RELATING TO JUNE, THE DUE DATE IS JULY'7TH...

MY QUESTION IS: IF I DO THIS LITTLE MANIPULATION, WILL I BE ABLE TO SAVE DEFAULTS ON A/C OF LATE PAYMENT??? OR WILL I GET CAUGHT IN OTHER AREAS SUCH AS 26AS ETC?? PLEASE HELP.

Replies (2)

venkataraman

Executive-Finance

31 Points Posted on 28 July 2015

Dear Sir,

At the time of filing the return you may not get any defaults if you show the bill in the month of june.But at the time of issuing TDS Certificate the vendor will raise query regarding the wrong date mentioned in the TDS Certificate.

arumoy

proprietor

38 Points Posted on 30 July 2015

thanks for the reply V. And i think you are right. that is the only thing that can happen in this scenario. and if i manage to convince our vendors that the date in the 16As doesnt mean any material importance and they will still get their due tax credit, then i think there shouldnt be any problem and this littile manipulation can actually save defaults amount raised by CPC.