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?
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TDS Return Query
Replies (7)
No need...
no
No
yes, required to Show with reason of lower deduction as mention in different flag
| 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.
But when we don't deduct transporters tds we have to report as Nil tds , so on the same line these software purchase transactions are required or not
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.
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