Sir/Madam, please tell me the quarterly TDS return filing liability in case where Deductor deduct tax at source in the month of march for the whole year. For ex. Mr.A (Deductor) has paid interset to Mr. B(Deductee) on monthly basis as per T & C which is above threshold limit i.e. above 5000/- without deducting Tax at source. Now in the month of march he has deducted total Tax and deposited with interest penalty i.e. 1% per month. now my question is whether Mr. A is liable to file all quarterly return or he can file the return only for fourth quarter.
Menu
liability for filing TDS return
Replies (2)
Mr. A is liable to file quarterly return for fourth quarter only as you must have made payment in one challan and that cannot be split across the quarters and TDS has been deducted in one quarter only. For the current year please atleast deposit TDS on quarterly basis atleast
Thank you Adityaji. But don,t you think if 'A' can file only last quarter than it is very convenient to file only forth quarter every year instead of all quarter and save charges and professional fees. And what about penalty provisions regarding late filing of quarterly return if Mr. A was liable to deduct tax on interest paid on monthly basis.
Recent Topic
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
- Professional advance taxes
- Surrender pan process
- Tds on deceased's pan
- Exempt income declaration schedule EI in ITR2 (AY2
- Mold cost invoice in GST return
- WhatsApp document sharing: Client sends Aadhaar, P
- GST Registration Cancelled for Non-Filing Returns
Related Topics
CAclubindia
