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Non compliance of TDS

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vijay mohan

152 Points Posted on 19 October 2024

my client received notice from TDS ward that the amounts in the BINs are in unclaimed status.and submit reasons

Replies (3)

Quick Summary

This discussion addresses a client's receipt of a notice from the TDS ward regarding amounts in an unclaimed status. It outlines a step-by-step process to handle such a situation, including verifying the notice's authenticity, identifying the root cause of the unclaimed status (e.g., incorrect details, technical issues), gathering necessary documentation like bank statements and TDS certificates, and submitting a comprehensive response to the TDS ward. Prompt action and clear explanations are advised to prevent further complications or penalties.

Rama chary Rachakonda

Master in Accounts & high court Advocate

7021 Points Posted on 19 October 2024

Here's a suggested course of action:

1. Verify the details: Ensure the notice is genuine and the details, such as the BINs and amounts, are correct.

2. Identify the reason: Determine why the amounts are in an unclaimed status. Possible reasons might include: - Incorrect account numbers or IFSC codes - Insufficient funds - Technical issues - Unawareness of the credits

3. Gather documentation: Collect supporting documents, such as: - Bank statements - Interest certificates - TDS certificates (Form 16A)

4. Respond to the notice: Submit a detailed response to the TDS ward, explaining the reasons for the unclaimed amounts and providing the supporting documentation.

Remember to address the notice promptly and provide a clear explanation to avoid any further actions or penalties.