We have purchased branded software, on which tds is not applicable as per Circular No. 1323. NOW MY QUEY IS WHETHER SUCH NIL TDS TRANSACTIONS ARE REQUIRED TO SHOW IN TDS RETURNS I. E 26Q?
We have purchased branded software, on which tds is not applicable as per Circular No. 1323. NOW MY QUEY IS WHETHER SUCH NIL TDS TRANSACTIONS ARE REQUIRED TO SHOW IN TDS RETURNS I. E 26Q?
| Originally posted by : NITIN SABOO | ||
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yes, required to Show with reason of lower deduction as mention in different flag |  |
Bro.,
Query is not for lower deductio. Its for not applicable case.
Yes they are required to be shown becoz they are excluded from the TDS provisions by way of exemption and not by way of non-applicability. There is a liability to deduct TDS but specific circular exempts the transaction so the same is required to be shown in Return.
CAclubindia
