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Remark while filling TDS return of 194Q

Avinash Jeevan Dsouza (Assistant In Charge Accountant)   (3197 Points)

27 October 2021  

What remark do we need to select while filling the TDS return for 194Q ?

1. Write “C” if deduction is on higher rate under section 206AA on account of non-furnishing of PAN

2. Write “S” if no deduction is in view of the provisions of sub-section (5) of section 194Q.*

3. Write “U” if the deduction is on higher rate in view of section 206AB for non-filing of return of income*

 

it doesnt allow to give remark of 

1. Amount Paid/Credited is Under Threshold

 

When i filled the return using "Amount Paid/Credited is Under Threshold" i got a error.

Error :

 

T_FV_6210 Invalid Remark Value provided for Section 194Q. Remarks 'C', 'S' and 'U' are applicable for this section


 3 Replies

prasad Nilugal (Sr . Accountant and GST Practitioner . )   (7054 Points)
Replied 27 October 2021

You have to  refer  section  206AA , 206AB  and 194Q(5)  of  the Income Tax act  are applicable to you are not  , while filing TDS return . 

206AA - if  pan not  furnish by the  deductee  then higher rate of  TDS  is applicable 

206 AB -  if  IT returns are not filed by the deductee for last two years then  higher rate of  TDS is applicable 

194Q(5) - If  TDS  deducted  under any other section  or TCS collected under 206C  of the  IT act   , then 194 Q not applicable . 

This  is the summery  I have given you , so  you refer  above  section in detail  from the  Income Tac act  and  put  remark accordingly . 

Avinash Jeevan Dsouza (Assistant In Charge Accountant)   (3197 Points)
Replied 27 October 2021

It can not be blank?

prasad Nilugal (Sr . Accountant and GST Practitioner . )   (7054 Points)
Replied 27 October 2021

You get error , I think .

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