Tds revised return

TDS 181 views 4 replies

vinayak

accountant

255 Points Joined March 2014

We are private Ltd Co.. We have deducted 5000 tds on professional fess on 31st March 2018 and paid the same tds on 25th April 2018 and filed the tds return by may 2018.. But we should I have deducted tds of Rs 10000 on 31st march 2018. On 25th September we have paid balance 5000 tds selecting year a.y. 2018--19 and also paid 450 as late payment fees with the said challan
Now i want to file revised tds return how should I process. The tds is of same party.. I have already shown tds of 5000 for same party in original return.. Can I adjust this extra 5000 tds in revised return.. In revised tds return what date should u show of deduction as I have paid late fees of Rs. 450 should I show deduction date 31st march or 30th April 2018.
Any important points i have to kept in mind while filing revised return.. Please specify.. What will be due date for the revised return to be filed for the above transaction

Replies (4)

Komal

student ca final

724 Points Joined August 2018

Which software do you use for filing TDS return?

shrikant

student

127 Points Joined November 2014

etds taxmans software simillar issue

Puja Sharma

433 Points Joined September 2018

There is no due date for revising the TDS return. You can do the same at any time, you cannot delete any entry after the same has been processed.

In your case since you have shown short TDS amount in the original return, you can now add a fresh entry in the original return by revising the same.

Scenario1:

Suppose the Amount credited was Rs. 50000 and on that amount you have deducted Rs. 5000 as TDS @ 10% in the original return. However the correct credit amount should have been Rs. 100000 and TDS amount Rs.10,000. Now you can add a fresh entry of another Rs. 50,000 on the same date with TDS of Rs. 5000. in the revised return.

Scenario 2:

Suppose the Amount credited was Rs. 100000 and on that amount you have deducted Rs. 5000 as TDS @ 5% in the original return. However the correct TDS amount should have been Rs.10,000. Now you can add a fresh entry of another Rs. 50,000 on the same date with TDS of Rs. 5000. in the revised return. Also you can edit the original entry with credit amount from Rs. 100000 to Rs. 50000.

The above procedure can be followed by revising with the help of consolidated file using the TDS NSDL TDS filing utility.