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Tds paid in "advance"

Maruthi (Tds Returns Preparer) (207 Points)

18 February 2014

Dear All,

Can Tds to be paid in Advance? i.e., (prior to make payment and to deduction of TDS)?

Ex: TDS challan paid on 06.05.2013, But Tds was deducted on 31.01.2014.

Question is: Can that particular challan will used in 4th Quarter Tds Return of 2014?

Regards

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4 Replies

CA. Kuldeep Singhi (Entrepreneur) (424 Points)
Replied 18 February 2014

No, it cannot be used.How can u pay TDS without deducting it, seems to be illogical?

CA SUKSHAM ARORA (CA) (569 Points)
Replied 18 February 2014

agreed with kuldeep, but i 'm not sure

NAVEEN KUMAR (Student CA IPC / IPCC) (23 Points)
Replied 18 February 2014

DEAR MARUTHI,

I HAVE SAME CASE AS YOUR. I HAVE FILED THE TDS RETURN U/S 192B AND IT'S PROCESSES WITHOUT ANY DEFAULT FOR FY 2012-2013. SO ACCORDING TO MY OPINION YO CAN USE THE ADVANCE PAID TDS CHALLAN FOR ANY QUARTER OF THE SAME FINANCIAL YEAR. FOR MORE QUERY U MAY CONTACT TO TDSCPC ON THIS MATTER.