Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

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

Reply
Follow
Share

2 Replies

Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (8158 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 .

Upgrade to CAclubindia Pro. Subscribe Now!

Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (8158 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 .

CCI Pro

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

CCI Pro

Trending Online Classes

Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance

CA Vishal Zawar

Enroll Now

14 June 2025
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)

Mr.Balamurugan Ranganathan

Enroll Now

16 June 2025
Guide to UAE Corporate Tax Return filing (3rd Live Batch)

CA Mohd Asim

Enroll Now

14 June 2025

view all classess

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads

Recent Posts

Unreplied Threads

Settings