Tds return in case of late deduction

TDS 867 views 5 replies

Parvesh Malik

37 Points Joined July 2011

My company make some foreign payments in f.y. 2013-14 on which TDS is defuctible but we did not deduct the same in that year. Now in f.y 2014-15 we grossed up the amount paid and deposit the TDS with interest on these payments. Now the problem is that how to file the TDS return, because in f.y 2013-14 no return is filed in form 27Q, hence we cannot revise the return and if we file the return in current year software does not accept and show the date of deduction should be in current year, If we file the last year original return then late filing fees Rs. 200 per day has to be pay. Please help me and tell what to do.

Thanks in advance

Replies (5)

CA SUKSHAM ARORA

569 Points Joined February 2014

ACCORDING TO ME, THERE IS NONE OTHER OPTION THAN FILING THE ORIGINAL RETURN FOR THE LAST YEAR

Parvesh Malik

37 Points Joined July 2011

but tax is actually deducted & deposited in current year in september, how we can file such return in last year

CA SUKSHAM ARORA

569 Points Joined February 2014

YOU CAN.......... JUST PUT THE DATE OF TRANSACTION IN LAST YEAR.......DATE OF DEDUCTION & PAYMENT IN THIS YEAR

kanh singh

CA Article

121 Points Joined June 2011

Since you deposited the tds with interest, you have no other option than filing your late return and you have to pay penalty of rs 200 per day. You can file return now. you have to change assessment year from 2015-16 to 2014-15 for filing last year return in your software.