TDS Late deduction and procedure - Professionals - Taxation - TIK Share
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TDS Late deduction and procedure


CA Pulkit Sharma

2014-01-21

Some Faqs on TDS deduction are:

If i deduct TDS of Q2 of 2013, in feb 2014. What Should be done?

You need to pay the TDS to government along with Intrest.

Do i need to show the payment in TDS return of Quarter Ending March 2014?

No you need to revise the return of Quarter ending q2 of 2013. And update the details of challans and file the revised return.

Will late fee attract here under section 234E?

No, it will not attract late fee under section 234E, as you are not filing the return but correcting the filed return.

What happens if i dont revise the return for q2 of 2013?

Deductee will not get the credit. And Deductee will not be able to claim the TDS amount.

Please feel to add your FAQS for any further doubts.