Tds nil return filing
If there is no deduction from any employee during first quarter is it necessary to submit nil return in tds . Is there any fine if not filled the tds return for the same
Replies (2)
Quick Summary
No. Filing of nil TDS return is not mandatory. However, you can file declaration for non filing of tds returns under statements/payments tab of TRACES Login.
Nil TDS returns aren't mandatory:
• If no tax was deducted in a quarter, you needn't file a nil 24Q/26Q. TRACES and the e-filing portal provide a facility to declare "non-filing of TDS statement" (Declaration for Non-filing of Statements), to avoid default notices.
• However, 24Q Q4 must report Annexure II (salary details of employees) if salary paid exceeds the basic exemption limit, even if no TDS was deducted (Rule 31A). Many file a Q4 24Q for that reason.
• If transactions occurred below the threshold or with lower or nil deduction (Form 15G/15H or 197 certificate), 26Q should report them (with the flag for lower or nil deduction).
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