TDS RETURN IN CASE OF PAYMENT MADE TO TRANSPORTERS - Professionals - Taxation - TIK Share
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TDS RETURN IN CASE OF PAYMENT MADE TO TRANSPORTERS


Kamaldeep Singh

2015-01-12

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.

Rahul Rai

2015-01-12

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.

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Kamaldeep Singh

2015-01-12

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? 

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Rahul Rai

2015-01-12

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.

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Mukesh Jain CA

2015-01-12

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.

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Ganesh babu k

2015-01-17

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

 

 

 

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SANJAY KUMAR GANNA

2015-01-20

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

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