The situation is this that I have deduct TDS from party under 194C on 8.07.2009, 7.10.2009 and 3.11.2009. but due to some reason the tds has not been deposited in time and whole TDS with interest was deposited on 15.02.2010 with a single challan. it means tds ded. on 2nd quarter & 3rd Quarter was deposited with a single challan.
Now the problem is clear that while processing my 2nd quarter return the TDS ded. on 08.07.09 to be adjusted against. challan deposited on 15.02.2009 and same challan is to be used while processing 3rd quarter return.
can it be possible to adjust the same challan in the 3rd quarter?,
if not then how can i adjust the challan?
The tds deducted is of around Rs. 2,00,000/-. so please help me to resolve this problem.
SUSHIL KUMAR
---------------------------------------------------------------------------------------Dear Sushil Ji.
We should avoid to deposit ,tax deducted in two quarters in single tds challan.But in your case ,Good news is that the the same challan can be used in both the quarter but one thing you should keep in mind that in both the quarter fill the total amount deposited in the said challan and not amount related to the respective quarter.
To clear the issue I have assumed some figures against date you have given above.
date : 08/07/09 =tds amount=50000
date :07/10/09=tds amount=40000
date 03/11/09 =tds amount=110000
Interest on tds on late deposit=10000
Total challan deposited=210000 on 15.2.2010
Quarter -2 Return
From the above example in quarter -2 (7/09 to 9/09) in challan detail fill total amount of challan i.e 210000 with BSR code and challan serial number and in deductee detail give details of tds deduction of 90000.
Quarter -3 return.
in quarter -3 (10/09 to 12/09) in challan detail fill total amount of challan i.e 210000 with BSR code and challan serial number and in deductee detail give details of tds deduction of 110000.
why we should fill Full Amount in both the quarter?
In brief ,I would like to say that fill total amount and other particulars of the challan in both the quarters as given in challan receipt.The reason behind it is that nsdl will reconcile the challan with data updated by the bank branch where you have deposited your TDS and entry feeded by you through Etds return and if both entries are matched then deductee's entries will be checked and posted in pan ledger(form 26AS)but if all field are not matched ,as uploaded by you and as uploaded by the bank for a particular challan , then deductee's pan ledger will not be credited ,so to match the data ,we will have to fill total amount of challan in both the quarter .
Interest Amount should not be included in Deuctee's detail.
Moreover ,in deductee detail show only the details upto the amount of tds ,Interest on tds should not be part of deductee's detail .In above example ,you have deposited 210000 but in deductee detail show upto 200000 only as the Interest on late deposit of tds does not relates to deductee and can not be assigned against any deductee.
Isn't your method creat problem while validating file wil FVU?
ReplyDeletethe above method will not create any problem while validating file with FVU.Fvu reject file only when the deductee detail amount is more than the challan amount .On the reverse if challan amount is more than the deductee detail than file will be get passed through FVU.
ReplyDeleteI think it will create problem while validating the return.
ReplyDeleteNSDL's RPU will not accept challan dated in Q3 for prearing the return of Q2.
Please reply.
not at all,In every quarter we deposit last month's tax in first month of the next quarter .If I assume your view correct then How all that returns got passed through FVU?
ReplyDeleteThe above method is a official suggested Method and I have a Document To support the same and I have also Tested It and It is correct method.
Thanks for the wonderful info.. Like it.. :) Actually I am also stuck in same kinda problem.. The post resolved my problem first and then comments made it clear that I am safe now..! :)
ReplyDelete