2024 Is filing of nil tds return mandatory

Is filing of nil tds return mandatory

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August undefined, 2024

WebOct 15, 2013 · Write “Z” if no deduction is on account of payment being notified under section 197A (1F). Write “Y” if no deduction is on account of payment below threshold … WebOct 22, 2013 · nil tds return not mandatory. . . Reasons can be find here with, 1)FAQ of NSDL website says nil tds return not mandatory. . ****2)as per new FVU utility it is *not possible to file return with nil challan and nill deductees so we can also support from here that nil tds return not possible. 3)Nil TDS return NOT MANDATORY.

Is it mandatory to file a NIL TDS return in case there is no …

WebFeb 2, 2024 · As per the Income Tax Act, ITR filing is not mandatory for individuals earning less than INR. 2,50,000. However, if a return is filed then it will be considered as Nil return. … WebDeductors not required to file return due to NIL TDS. Henceforth, the persons who are not required to submit a return of TDS due to non-applicability in any particular quarter shall have to submit a Declaration for the same on Traces as … tabea feldmann succow stiftung

Income Tax Nil Return (Must Know Information) - instafiling.com

WebApr 12, 2024 · Do note that paying zero tax does not mean that an individual is not required to file an income tax return. An individual opting for the new tax regime is mandatorily required to file ITR if their taxable income exceeds Rs 3 lakh in a financial year. Nil tax till incomes up to Rs 7 lakh is available due to tax rebate under Section 87A. WebFeb 2, 2024 · As per the Income Tax Act, ITR filing is not mandatory for individuals earning less than INR. 2,50,000. However, if a return is filed then it will be considered as Nil return. Due Date file Nil Income Tax Return Individuals can file a Nil Tax Return on or before 31st July of the Assessment Year. WebMar 31, 2014 · Deductors required to file return but not filed. Deductors not required filing return. After getting updating of status through this facility, department can get the details of willful defaulters. What is the Procedure of filing Nil TDS Declaration for non-filing TDS statement? The process is as follows: 1. tabea coors

Whether Nil Return of TDS is mandatory ?How to file Nil return after 01 ...

Nil TDS Statement / Declaration – Overview

WebThe person responsible for deduction of tax source shall file a TDS Statement on or before due date specified in this behalf in the prescribed formats. Where a deductor is not liable to deduct any tax during the relevant quarter or have not deducted tax during any quarter, he can file a nil declaration for non-filing of TDS statements. It is not mandatory to file a nil … WebApr 22, 2024 · Ans: As per Income Tax Act’1961 and the Income Tax Rules it is not mandatory file a NIL TDS Return. Since filing NIL TDS Return was neither mandatory nor … tabea feyWebApr 27, 2024 · One can easily download the utility from TRACES website and file TDS return by providing various inputs required therein. Following is a summary of the process for filing a non-salary TDS in Form 26Q: tabea fian

"WebApr 12, 2016 · A return can not be filed in version 3.7 if there is no deductee or amount paid or credited is ZERO . New version requires atleast one deductee with pan and payment details. i.e. Nil returns are no more necessary to be filed. sneha (Chartered Accountant) (101 Points) Replied 11 October 2013 Okay Mr Nilesh r u sure, that v don't need to file? " - Is filing of nil tds return mandatory

Is filing of nil tds return mandatory

Can TDS return be filed without TAN? - yoursagetip.com

WebMar 31, 2014 · As per income tax rules, nil eTDS statement is not mandatory due to which, the department is not able to find out the difference between the following two types of … WebSep 4, 2024 · TDS Return is a statement that is submitted by the deductors to the income tax department on a quarterly basis. It summarises all TDS related transactions carried out in a quarter. However, the filing process is not as easy as it seems. Any omission or misstatement of details can invite notice for businesses from the income tax authorities.

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WebNo, it is not necessary to file return for a tax period in which you have not made any deductions, even if there are rejected records in that month. The record will be auto … WebAn application for Nil/ Lower deduction of TDS is required to be filed in Form 13 to the Income Tax Officer, ... the TDS is first deducted and then the recipient of income claims a refund of TDS at the time of filing of his Income Tax Return. This is a time consuming and burdensome process as Income Tax Returns can only be filed after the end ...

WebOct 15, 2013 · Write “Z” if no deduction is on account of payment being notified under section 197A (1F). Write “Y” if no deduction is on account of payment below threshold limit specified in the Income-tax Act, 1961. So to create a Nil tds return after 01.10.2013 have two steps: Step -1: Enter challan details. create a Nil amount challan (Check How ... WebSep 9, 2024 · Penalty For Non-Filing Of Nil Return –. Provisions relating to penalty / late fee are contained under section 47 of the Central Goods and Service Tax Act, 2024. Penalty / late fee for non-filing of GST return as per section 47 is as under –. The taxpayer in default is required to pay a late fee of INR 100 for every day during which such ...

WebApr 15, 2024 · Filing of TDS returns. Filing TDS returns is mandatory for all the persons who have deducted TDS. The return is to be submitted quarterly and details need to be … WebApr 12, 2024 · Do note that paying zero tax does not mean that an individual is not required to file an income tax return. An individual opting for the new tax regime is mandatorily …

WebTDS Return (NIL) : How to File NIL TDS Return, If TDS not deductedWebsite: www.ibatraining.incall/WhatsApp: 9820337194MSHKHROther Important Lectures.1) …

WebApr 1, 2024 · Legally there is no need to file Quarterly TDS Return/ Statement where no tax has been deducted at source. NSDL is also of the view that it is not at all compulsory to file NIL return, if deductor has not deducted any tax at source or if there is no transaction at … tabea fliedner sersheimWeb2 days ago · Salaried employees are required to intimate their employers about the tax regime they want to opt for FY 2024-24. ... can you change tax regime while filing income tax return itr; ... Nil: Upto 3 ... tabea freyWebApr 15, 2024 · A TDS Return is a statement that is required to be filed with the Income Tax Department of India, detailing the tax deducted at source by a person or an entity. The … tabea frickWebMar 29, 2024 · To claim such TDS deducted, it is mandatory to file an income tax return. Legal proof while applying for loans: It can serve as a legal document while applying for loans. Applying for Visa: A nil return is a proof when it comes to applying for a Visa application as showing the proof of income is also a part of the whole applying procedure. tabea fischle hannoverWebIn case of NIl TDS, there is no need to file return. However you will have to declare the reason for non filing the return on TDSCPC. If you don't have user name & password to … tabea flath tübingenWeb2 days ago · Salaried employees are required to intimate their employers about the tax regime they want to opt for FY 2024-24. ... can you change tax regime while filing income … tabea freseWebApr 22, 2024 · Ans: As per Income Tax Act’1961 and the Income Tax Rules it is not mandatory file a NIL TDS Return. Since filing NIL TDS Return was neither mandatory nor possible. The CPC (TDS) was having a problem distinguishing between: 1. Deductors required to file return but not filed the TDS Return. 2. Deductors not required to file return. tabea flury