Hey guys kindly guide:

I need to file a tds return of a client who had been transporting goods through GTAs and not deducting TDS as PAN was furnished to him by GTAs. One such GTA had billing less than 75000 in First half of 2014-15. But in q3 the billing crossed rs. 75000 mark. How do we report this GTA now? I mean what about the entries of bills raised in first half? do we need to report them too or just the bills raised in Q3 needs to be reported?

Thanks.

Posted 2 years, 1 month ago by Kamaldeep Singh


First, TDS was not decutible since GTA provided PAN.

It is compulsory to provide details of GTA transactions if TDS was not deducted. You need to provide details of GTA payments/credits made during the subjected quarter only. Softwares does not accept back dated deductions i believe.

How we do in normal course, it should be done in similar manner.

This is my opinion, we need to wait for others.

Posted 2 years, 1 month ago by Rahul Rai


Actually, The software I use is ICAI TAX SUITE and it is accepting previous quarter's entry so I got confused that whether earlier entries too are reportable? 

Posted 2 years, 1 month ago by Kamaldeep Singh


If its accepting then its great. You can provide details of previous months too. Actually the software i use does not allow for other deductions. Never tried transport deductions. If its allowing means we need to provide the details of previous months too.

Posted 2 years, 1 month ago by Rahul Rai


You need to provide the details of deductees and upload the TDS return. This has been provided u/s 194C of the IT Act. I am not so sure of the previous quarters entries.

Posted 2 years, 1 month ago by Mukesh Jain CA


You can show details of all payments made to transporters..

I recommend you to disclose details for Previous quarter also,

.

There is no fear of Interest also... as tds deducted is NIL

 

 

 

Posted 2 years, 1 month ago by Ganesh babu k


If it accepts previous quarter dates then disclose it as actual.

If it doenot accept Previous quarters dates then put the date as 1st of the current quarter and file it.

As disclosure is important.

But from next onwards disclose it according to credit or payment and do not wait for the limit to reach

Posted 2 years, 1 month ago by SANJAY KUMAR GANNA


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