TDSMAN has introduced a unique feature of verifying all PANs in a TDS Return In one click identify all invalid PANs used in a Return Avoid Default Notices with steep penalties owing to invalid PANs Click Here to view the simplicity and usefulness of this feature.
The CBDT has noted that many taxpayers are committing mistakes while furnishing their tax credit claims in the return of income. Such mistakes include: quoting of invalid/incorrect TAN; quoting of only one TAN against more than one TAN tax credit; furnishing information in wrong TDS Schedules in the Return Form; furnishing wrong challan particulars in…
The various provisions of TDS are statutorily required to be strictly complied with. Any default in compliance can attract, levy of interest, penalty and in certain cases initiation of prosecution proceedings. Failure to deduct tax Where the employer has failed to deduct tax or when short deduction of tax has been done, following statutory provisions…
One should take care of the following information before submitting TDS return for 4th Quarter of Financial Year 2013-14 Payment of Taxes deducted/ collected: In accordance with Central Government Account (Receipts and Payments) Rules, 1983, Government dues are deemed to have been paid on the date on which the cheque or draft tendered to the bank,…
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…
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…
CPC (TDS) has introduced the convenience of online facility of PAN verification on TRACES. With this feature, you will be able to validate the PANs with confidence for the purpose of recording and reporting your transactions in the TDS statements correctly. To avail the facility, one should login to TRACES and navigate to Dashboard…
Following are some useful information to adhere before submitting Corrections, with special reference to C3 & C9 What are C3 & C9 Corrections? C3 Correction involves Updation or Addition of Deductee details in the TDS statement. The facility to delete Deductee records has now been discontinued for the purpose of correct reporting and is no…
Interactive Voice Response (IVR) for knowing the status of the PAN/ TAN application is now available at TIN call centre (TCC) in Hindi/English language. You may call on 020- 27218080 to check the status of your application.
1.What is a justification report? It is a document which serves as an annexure to the intimation to be sent to the deductor. Intimation will be sent to the deductor through mail / post but a justification report will have to be downloaded from the portal. 2.What is the purpose of justification report? This document…