nil tds cert

[satbir singhwahi]

Sir

 

 

2.TDS return 26Q2 for financial year 2013-14 , no tds was deducted of shipping line bill as letter from Asstt Director Income Tax was given by party for nil tds. This letter was general addressed to all parties. As TDS is not applicable for foreign shipping lines , now we are not able to delete the entry in correction tds return.CPC TDS is asking to deposit tds . Kindly guide.

[Guest]

As far as mine understanding you have received certificate u/s 197 from Asst Commisioner of Income Tax. If it is so, kindly raise the proper flag in the Correction return.

Otherwise, please put the required flag as deletion of row item is not permissible.

AI Summary

Nil TDS certificate permits flagging a correction TDS return instead of deleting entries, subject to deposit demands. If a formal nil TDS certificate obtained from the tax authority (for example u/s 197) is in place, the payer must raise the appropriate flag in the Correction TDS return rather than delete the row; absent such certificate, deletion of the row item is not permissible and the required return flags must be used while addressing any deposit demand from CPC TDS.