TRACES introduced NIL TDS Statement/Declaration of TDS from the FY 2014-15. This is applicable for Deductors who did not deduct any tax during the relevant quarter. What is the benefit of filing a Nil TDS Statement? The benefit of this facility is that instead of filing nil TDS/TCS Statement for a particular quarter/period, one just needs…
Form 26AS is most important document for tax payers as it is a tax payment and deduction ledger for them. It shows Tax deducted /collected amount by deductors, Amount paid with TDS against form 15G/15H, tax paid by tax payer like advance tax,self assessment tax etc. Further it also shows refund amount . Every tax…
Deductors can correct two type of errors online after registration of digital signature. 1. Online correction of challan. 2. Online correction of PAN. Now TDSCPC website have given facility to correct challan without registering digital signature. First deductor have to register a request for correction of particular return and then they have to check its…
The below table contains the password formats of various informations available in TRACES website which are important for both tax deductors and tax payers. Functionality Password Example Password Formats for Tax Deductors Registration It should contain a minimum of 8 alpha numeric characters with at least one capital letter. Register123 Consolidated File TAN_Request Number of…
Sometimes it has been observed that Flag B is not being raised for 15G/ H Forms in quarterly TDS Statements filed. The prevalent practice is to raise the flag only in the TDS Statements filed in the last quarter of the Financial Year, however, such transactions must be reported within the relevant quarter. The obligation…
The due date for filing of ITR-V for AY 2012-13 and 2013-14 has been extended to 31st March, 2014. The notification produced in this regard is given below: Notification for Extension of date for receipt of ITR-Vs in CPC, Bengaluru, for the cases of AY 2012-13 and 2013-14 received/e-filed in FY 2012-13- Reg. There are…
The due date of payment of the march instalment of advance tax extended from 15th march 2014 to 18th march 2014 The final instalment of advance tax for financial year 2013-14 is required to be paid on or before 15th March, 2014 by the tax payers who are liable to pay advance tax. These taxpayers…
If Account Office needs duplicate copy of Provisional Receipt Number of the filed eTDS/TCS return, then AO is required to send request letter to NSDL. The format in which request should be sent to NSDL by the Account Office is as under :- Request letter by Account Office in Letter Head (Letter should be signed…
The due date to file TDS/TCS statement for government deductors has been extended by the CBDT for the following financial years: (i) FY 2012-13 – 2nd to 4th Quarter (ii) FY 2013-14 – 1st to 3rd Quarter Government deductors require AIN (Accounts Officers Identification Numbers) to file returns. The allotment of AIN was…
TDSMAN software is now available in 2 different editions: 1. Standard Edition 2. Professional Edition To compare the two editions, click here