• TDS

Hi
on logging on to traces, found the outstanding demand of many small amount for the last 10 years. can this be ignored or we need to pay all the amount? after making the payment should we report it in the tds return ?
Asked 6 years ago in Income Tax

Hi,

 

Hope you are doing well !!

 

Yes, you should pay all the amount even if it is small amount.

Payal Chhajed
CA, Mumbai
5189 Answers
302 Consultations

Yes you must pay it.

Or else they will adjust it from your future refund if any or refund in case of assessment and in recent time the TDS department has also become very strict with regard to recovery.

They have started freezing bank account for small amount, so it's better to pay.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Naman Maloo
CA, Jaipur
4303 Answers
101 Consultations

Hello,

 

Yes, you should pay the demand.

The demand can be paid by using the Online Correction facility on the traces portal or by filing correction statement.

 

I hope this answer satisfies your requirement.

 

Regards,

CA Hunny Badlani

Hunny Badlani
CA, Madhya Pradesh
2608 Answers
16 Consultations

Hello Sir,

 

You must pay all the outstanding amount.

 

It will be adjusted automatically.

 

You don't need to show anywhere.

Karishma Chhajer
CA, Jodhpur
2452 Answers
29 Consultations

Can you share the screenshot? What is your business nature? How much is the amount?

Thanks

Siddharthh Jain
CA, Gurgaon
65 Answers
1 Consultation

Hi,

 

- If the amounts are very small then it is better to pay them. Demands will be zero automatically after the payment.

 

Thanks

Vivek Kumar Arora
CA, Delhi
5012 Answers
1135 Consultations

Hi, 

 

Demand regarding what??means tax or interest or Penalties?? Please share more details 

Swati Agrawal
CA, Mumbai
1146 Answers
7 Consultations

This cannot be ignored especially if you have made the deduction and not deposited with government.

 

Yes, it should be reported in TDS return as well.

Lakshita Bhandari
CA, Mumbai
5687 Answers
942 Consultations

Since, this are small amounts, just make the payments and report and file the revise etds return

Jasmina Jain Shah
CA, Greater Mumbai
458 Answers
4 Consultations

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