E-Returns for TDS / TCS was first introduced in 2002-03 and it has come a long way ever since. Currently, less than 1% are still on manually filed Returns. The generic procedure of preparing E-Return for fundamental understanding is summarized as below: Step – I The Income Tax Department has specified a data format in…
Validation for non-update of Deductee/Collectee records from Annexure I and Annexure ll in TDS/TCS correction statements when Form 26A/27BA has been generated. Deductee/Collectee against which Form 26A/27BA has been generated at Income Tax Department where update will not be allowed on certain fields in Annexure I of Form 24Q, 26Q and 27EQ while submitting correction statement….
Validation for PAN of Landlord field has been revised for form 24Q-Q4 under Annexure II (i.e. Salary details) from F.Y. 2016-17 onwards. Existing Validation of structurally valid PAN (for field no. 41, 43, 45 and 47 as per data structure) has been relaxed. These fields may contain any value from the below mentioned when the landlord does not…
1. Newly added fields for Form 27Q i.e. Email ID of deductee, Contact number of deductee, Address of deductee in country of residence & Tax Identification Number /Unique identification number of deductee are to be made mandatory only for below mentioned nature of remittances. – Interest payment – Royalty – Fees for technical services/ fees for included…
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 6/2016 New Delhi, 4th May, 2016 Procedure for online submission of statement of deduction of tax under sub-section (3) of section 200 and statement of collection of tax under provison to sub-section (3) of section 206C of…
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 6/2016 New Delhi, 4th May, 2016 Procedure for online submission of statement of deduction of tax under sub-section (3) of section 200 and statement of collection of tax under provison to sub-section (3) of section 206C of…
Finance Act, 2003 amended section 206 of Income Tax Act, 1961 to make it mandatory for corporate deductors to furnish their TDS returns in electronic form (eTDS returns). The scheme for furnishing TDS return in electronic form was notified by the Central Board of Direct Taxes (CBDT) vide Notification No. 205/2003 dated August 26, 2003….
The due date for payment of TDS deducted/collected during August is 07 September, 2013. Use the TDSMAN Software for smart & convenient filing of your eTDS / eTCS returns on time. Click here to order TDSMAN