I have made payments under the sec 194C (Subcontractor) amt of Rs. 15,000/- in Jan 2011 and 17000/- in Feb 2011 and final payment of Rs. 8000/- in March 2011.
In this the total amt of Rs.40,000/- was not crossed the threshold limit hence I have not deducted the TDS amount for this payment.
Now I have to file my TDS Return for 4th quarter (Jan 11 – Mar11) as per new notification, I need to Know I should show this transaction in my Tds return or not.
Kindly advise me.
Thanks.
YOU NEED NOT TO FILE TEH TDS RETURN FOR THIS ENTRY.
WHAT IS THE NEW NOTIFICATION?
Thanks for your reply
and I require more clarification the following
Guidelines for reporting TDS transactions (in quarterly TDS statements) not exceeding / exceeding threshold limit (as issued by Directorate of Income Tax - Systems).
Link: https://www.tin-nsdl.com/TDS-Guidelines.asp
Dear Suresh,
Why are you bothering yourself???? It is clearly mentioned in link which is attached in your forum i.e. if deductor wishes to report the transaction. (its deductor wish)
To bhai kyu itni mehnat kar rahe ho......
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
