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TDS RETURN REVISION FOR PAYMENTS MADE UNDER SECTION 195 - FREIGHT PAYMENT UNDER DTAA

Dakshinaa Murthhy Rayaprolu (SR MANAGER - FINANCE & TAXATION) (48 Points)

20 May 2025

Dear Learned Gurus and Friends - I would like to know to how to revise TDS return filed in 27Q for TDS payments made under section 195 for TDS on Freight payment - earlier there is one option that is payment made on account of "Freight" under DTAA - now the same has been removed - Please advise

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Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (7807 Points)
Replied 20 May 2025

The removal of the specific "Freight" option under DTAA (Double Taxation Avoidance Agreement) in the 27Q return might require you to select a different category for reporting TDS payments.

Here's a potential approach:

Revised Reporting - *Select Appropriate Category*: Choose the category that best describes the nature of the payment, such as "Other Income" or "Business Income," depending on the specifics of your freight payment. - *Consult

Tax Consultant*: Given the complexity of tax laws and the specific circumstances of your case, consider consulting a tax consultant or chartered accountant familiar with TDS and DTAA. Rectification or Revision -

*Rectification*: If the original return was filed with incorrect information, you might need to file a rectification return to correct the errors. -

*Revision*: If the return was filed correctly but you need to update the information due to the change in the form, you might need to file a revised return.

Key Considerations -

*TDS Payment*: Ensure that the TDS payment was made correctly and timely to avoid any penalties or interest. -

*Documentation*: Maintain proper documentation, including the original return, payment details, and any correspondence with the tax authorities.

By consulting with a tax professional and following the appropriate procedures, you can ensure compliance with TDS regulations and accurately report your freight payments .

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Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (7807 Points)
Replied 20 May 2025

The removal of the specific "Freight" option under DTAA (Double Taxation Avoidance Agreement) in the 27Q return might require you to select a different category for reporting TDS payments.

Here's a potential approach:

Revised Reporting - *Select Appropriate Category*: Choose the category that best describes the nature of the payment, such as "Other Income" or "Business Income," depending on the specifics of your freight payment. - *Consult

Tax Consultant*: Given the complexity of tax laws and the specific circumstances of your case, consider consulting a tax consultant or chartered accountant familiar with TDS and DTAA. Rectification or Revision -

*Rectification*: If the original return was filed with incorrect information, you might need to file a rectification return to correct the errors. -

*Revision*: If the return was filed correctly but you need to update the information due to the change in the form, you might need to file a revised return.

Key Considerations -

*TDS Payment*: Ensure that the TDS payment was made correctly and timely to avoid any penalties or interest. -

*Documentation*: Maintain proper documentation, including the original return, payment details, and any correspondence with the tax authorities.

By consulting with a tax professional and following the appropriate procedures, you can ensure compliance with TDS regulations and accurately report your freight payments .

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