TDS Return revision for payments made under Section 195 - Freight Payment under DTAA

116 views 2 replies
User Avatar

pro badge

SR MANAGER - FINANCE & TAXATION
48 Points Joined March 2011

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  

0 Reply Share Follow
On 20 May 2025 at 12:29 Report
Replies (2)
User Avatar

Master in Accounts & high court Advocate
9047 Points Joined December 2011

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 .

Reply
On 20 May 2025 at 13:54
User Avatar

Master in Accounts & high court Advocate
9047 Points Joined December 2011

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 .

Reply
On 20 May 2025 at 13:55


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading