I have filed ITR for AY 2013-14 as on 28March, 2015 , timely return was not files as it was a return of Loss., Let me know if I can revise this late filed return. 2] Is it mandatory for a assessee whose accounts are not auditable under section 44AB or else, to have TAN no. to deduct TDS for payment of interest in the financial year 2014-15 for payment of interest to a single person in excess of Rs.10000/- or Rs. 20000/-
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Revise return
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My accounts are not auditable & I have credited interest of Rs.42000/- to an Individual's account on loan taken from him for the financial year 2014-15 as on 31march, 2015. Is it mandatory for me to have TAN no. and deduct TAX on credited interest amount. All transactions via Bank.
Dear Aditya,
You cannot revise the return as you have filed late return.
If you are not liable for audit in previous year, then there is no need to deduct tds.
Dear Aditya,
As you are not liable for Audit u/s. 44AB, hence you need not required to deduct TDS.
Respected sir,
Iam a chartered accountant student,doing articleship..two days before we got a letter from cpc..they says the TAN no. is incorrect..but while we rectifying, IT dept. says the CPC no. is invalid....so we can't rectify it..whats the reason...?
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