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Query on e-tds filing

Mohit Bansal (Student) (47 Points)

16 February 2012

Where the amount is credited on 31st March and where the due date of deposit of TDS is within two months from the date of payment.
How to show the above in TDS Correction Return as i have got the notice of interest on late deposit of TDS while the TDS was deposited within time i.e. before 31st May.
This query is relating to F.Y.2007-08 Quarter 4.
Date of payment was - 31.03.2008
Date of deposit of TDS was - 06.05.2008

Also i want to know that while filing correcion statement we cannot edit challan details i.e. we cannot mention now in challan that it was deposited by book entry so it would be correct if we modify only deductee detail and mention there that tax was deducted by book entry.

An early reply is requested.
Thanks

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14 Replies

Niraj Mahajan (Practising CA) (985 Points)
Replied 16 February 2012

Please ignore the demand of TDS , since it is a computer generated notices (the calculations as well) it does not understand that the due date provisional entries is 31.05.20xx . Many assessees have received such demand notices from the Department.

You need not make any changes to the Etds return already filed by you. You may but write to the AO regarding the demand notice and specify that the demand made is incorrect, and ask for a Nil demand notice.

2 Like

Mohit Bansal (Student) (47 Points)
Replied 16 February 2012

thanks for your reply. But if anyone wants to file the correction return for such notices then what would be the procedure?

Poornima Y (CA) (94 Points)
Replied 16 February 2012

If you want to file a correction statement, you can do it as you file correction statement for any other quarter. But in this case, I agree with Mr.Niraj Mahajan that you can ignore the notice or just write to AO that the demand made is incorrect.

Let me also clarify that the column 'Book entry" in the RPU does not mean that the tax was deducted by book entry. It means that the TDS is not acually paid by a challan. It is applicable for government departments who deduct tax but do not actually pay by a challan but make a transfer to IT department by a book entry.

2 Like

Niraj Mahajan (Practising CA) (985 Points)
Replied 16 February 2012

@ Mohit : In your case you NEED NOT rectify/revise the Etds Return in first place.

1 Like

Sanchi Goel (100) (24 Points)
Replied 16 February 2012

Hi Friends,

Let me know the consequences of late filing of E-Tds return.

What %age of Interest will be imposed if v file late TDS return.

Don't be confuse Between late filing & late Payment. I want to know about late filing.

1 Like

Helper (Always be happy) (254 Points)
Replied 16 February 2012

Mohit,

you need to revise the return by making corection in Annexure Sheet in Paid by Book Entry or otherwise make it yes paid by book entry.

1 Like

Helper (Always be happy) (254 Points)
Replied 16 February 2012

Mohit,

you need to revise the return by making corection in Annexure Sheet in Paid by Book Entry or otherwise make it yes paid by book entry.

GOPAL AGGARWAL (DOING NOTHING) (1339 Points)
Replied 16 February 2012

Originally posted by : SAPNA MISHRA
	Mohit, you need to revise the return by making corection in Annexure Sheet in Paid by Book Entry or otherwise make it yes paid by book entry.

Sapna Mishra u are not correct because book entry is applicable who donot pay tax in bank they pay bybook transfer this is in government departments

Mohit JI Just write a letter to the concerned officer by mentioning that time allowed for above payment was 2 months instead of 7 days.

He will imeediate accept your letter file the notice and delete the demand. U need not to file correction statement.

and there is no provision for correcting such mistakes.

2 Like

Niraj Mahajan (Practising CA) (985 Points)
Replied 17 February 2012

@ Sachin: Penalty of Rs.100 per day from the date of due date of filing of Etds return till the date such return is filed. however, the amount of penalty is limited to the amount of TDS deposited in the said Quarter.

Mohit Bansal (Student) (47 Points)
Replied 17 February 2012

thank you guys for your replies.

Mohit Bansal (Student) (47 Points)
Replied 17 February 2012

thank you for your replies.

Pradeep Patankar (IFRS ( London)) (289 Points)
Replied 18 February 2012

hi...

many clints are ffacing the same problem...

its simple...

you have to rectify the return...

n keep in mind the in annexure u have to feel colomn no 420 "Book entry" as "yes" ...

n upload the same...

thats all...

Vineet Goyal (Assistant Manager - Finance & Accounts) (702 Points)
Replied 18 February 2012

In this case, default generated by TDS dept is wrong. As it is nowhere in the law that if the TDS is paid by book entry, only then you are required to deposit it in two months. Here paid by book entry means TDS deducted on provision amount.

But the law says TDS deducted on 31st, not that only on provision amount. So, you should not file revise Return. But reply saying that wrong default has been generated.

However, what Sapna has said, by doing that you can remove that default.

paramjit raghuvanshi (Senior Exct) (24 Points)
Replied 27 April 2012

If payment to the parties (on which TDS has been deducted) has been made actually i.e. by cash, cheque, demand draft or any other acceptable mode, then 'otherwise' has to be mentioned in the specified field. But if payment has not been actually made and merely a provision has been made on the last date of the accounting year, then the option 'Paid by Book Entry' has to be selected