Tax Deducted At Source
New File Validation Utilities – FVU 3.3 & 2.131 has been released, which will be mandatorily applicable from February 01, 2012. FVU 3.3 will be applicable for quarterly TDS / TCS statements pertaining to FY 2010-11 onwards and will be mandatory with effect from February 01, 2012. FVU 2.131 will be applicable for quarterly TDS /…
Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit in the first quarter but in subsequent quarters has exceeded threshold limit (as issued by the Directorate of Income Tax Systems) Flag should be selected in the field of Reason for non deduction / lower deduction / higher…
We are always worried about the fact that whether our TDS deductor / collector has filed quarterly TDS/TCS statement and provided our PAN while filing the TDS/TCS return. NSDL has recently launched a facility to enable deductee to know whether or not his TDS deductor/collector has filed quarterly TDS/TCS statement and provided his PAN while…
Earlier there was requirement to submit details of all payments / credits where no deduction was made in view of certificate of no deduction issued by the income-tax officer. Now details of payments / credit where no deduction was made in view of submission of self declaration under section 197A for no deduction of tax…
A Deductor can confirm the status of uploaded eTDS / eTCS return from the below link. There is no need of any Certificate Number or Registration or Sign Up etc. Just fill some information regarding the return and get confirmation of whether it is uploaded or not. https://onlineservices.tin.nsdl.com/TIN/JSP/form16A/LinkToUnauthorizedPanView.jsp The return status can be checked with…
New TDS software will alert about Unmatched challan, Invalid PAN, Challan pending amount. A new RPU version has been released in accordance to these updations. Key features of NSDL Return Preparation Utility (RPU) version 2.6 Unmatched challan: On import of consolidated file in the NSDL RPU (version 2.6), an alert messageStatement contains unmatched challan. The same…
Income Tax Department has changed the date of TDS filing for Govt. Deductors vide notification 57/2011 dated 24.10.2011. The due date of filing eTDS returns has been extended by 15 days for first three quarters of the Financial year but remains the same for last quarter ending 31st March. The amendment is applicable from 01.11.2011 &…
NSDL receives tax collection data as uploaded by the bank. NSDL is not authorized to carry out any changes in the data sent by the bank to TIN. The fields that can be corrected by the Taxpayer through Bank are tabulated below: Sl. No. Type of Correction on Challan Period for correction request (in…
When you file your TDS / TCS return, first the details regarding deposit of TDS/TCS made by you is compared with the data given by banks. The data is uploaded by banks on the basis of the TDS/TCS challans received by them. For this purpose, the Challan Identification Number (CIN), TAN and TDS amount as…
Circular No. 08/2011 dated 14.10.2011 on Tax Deduction at Source on the deposits in Banks has been issued by CBDT in the name of The Registrar / Prothonotary and Senior Master attached to the Supreme Court / High Court etc. during the pendency of litigation of cliam/compensation-reg. CIRCULAR NO. 08/2011 F.No. 275/30/2011- IT (B) Government…