Tds return

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Anooj

Chartered Accountant

2130 Points Joined December 2011

ICAI Requests Members to Share Hardship Being Faced with Regard to TDS Returns. - (18-02-2012) The Direct Taxes Committee of ICAI makes suitable representations to the Central Board of Direct Taxes or other appropriate bodies on various issues arising out of direct tax laws from time to time which are brought to the notice of the Committee by themembers. Recently, it has been brought to the notice of Direct Taxes Committee that demand notices are being served on the Deductors on account of various possible reasons. The said matter was placed by ICAI before theCentral Direct Taxes Advisory Committee in its meeting which was chaired by Hon’ble Finance Minister Shri Pranab Mukherjee. Considering the fact that there may be other difficulties which are being faced owing to rectification of TDS returns the ICAI was requested to compile allsuch difficulties being faced by the assessees and discuss the same with appropriate authorities. Thus, the members are requested to share the difficulties, if any, being faced in respect of demand notices, rectification of TDS returns etc latest by 25th February, 2012 at dtc.memoranda @ icai.org . The issues so received will be compiled and considered by the Committee for making appropriate representation.

Replies (2)

Akhil Gupta

Manager F&A

856 Points Joined August 2007

Even I also wanna to know the hardship being faced by the TDS Return Filer, since I am supervising the TDS return in my for last Seven Years and never found any such hardship in filing TDS return or Revised Return or replying any TDS Demand Notice which is unresolved and for any situation TIN facilitation Center and its helpline is open all the time. Also I am answerring the frequent question raised to/faced by me during this period

1 Is it necessary to revise the return if the demand notice relates to only interest on delayed payments?

Ans: Whenever there is any default found in your TDS return, the same will be generated in your TIN Login and the same shall be intimated through email. As per the present system there is no requirement at all to send any demand notice, system generated email is sufficient for the same. The default generated will only be corrected through filing of revise return.

Yes it is necessary to revise the return even if the demand relates only to the interest on delayed payments.

2 Is it necessary to deposit the demand of short payment if the same is related to wrongly mention of PAN No. of deductee in the TDS return or the demand can be vacated by filing the revised return?

Ans: If there is actual short payment of TDS then yes you have to deposit the same and that too along with interest. However if it relates to non availability/non mentioning of PAN number in the TDS return and if you have the PAN number of the deductee, you can file the revise return mentioning the PAN number.

If you don’t have the PAN number of the deductee or the deductee did not have the PAN number then you have to deposit the correct TDS and file the revise return.

3 How the default generated can be deleted on website tin-nsdl.com?

Ans: Default generated can be deleting only after filing of revise return subject to rectifying of all the defaults to the satisfaction of AO.

CA. Amit Kumar

Practice

51 Points Joined January 2008

File TDS Returns Online Free online TDS return filing facility for only Chartered Accountants Cummunity "For Limited Period" at www.tdsreturns.com By Knot Soft Technology Pvt Ltd File TDS Returns before due date to avoid penalty.