Given below are some dos and don’ts for the filing of TDS returns: Dos Ensure that TDS return is filed with the same TAN against which TDS payment has been made. Ensure that correct challan particulars including CIN and amount is mentioned. Correct PAN of the deductee is mentioned. Correct section is quoted against each…
Challan no. ITNS 281 is used by deductors to deposit TDS, TCS and demand payment. Following details are necessary to fill while payment of Challan ITNS 281: 1. Tax Applicable : This column has 2 options – 0020: This is applicable in case of income tax of companies if deductee is company 0021: This is…
Taxpayers, deductors or collectors can pay direct taxes through Authorised Bank branches either physically, through ATM or through internet. Type of Challans to be used for tax payments Challan Description ITNS 280 For depositing Advance tax, Self Assessment tax, Tax on Regular Assessment, Surtax, Tax on Distributed Profits of Domestic Company and Tax on Distributed income…
TDSMAN has been updated for the following newly released File Validation Utilities: FVU ver. 6.3 – For statement pertaining to FY 2010-11 onwards FVU ver. 2.158 – For statement up to FY 2009-10 To update TDSMAN – Click on: Utilities – Update Software Click here to view the key features of FVU version 6.3 & FVU 2.159
The Income Tax Department has released on 28th June 2019, the following new File Validation Utilities: FVU version 6.3 – For statement pertaining to FY 2010-11 onwards FVU version 2.159 – For statement up to FY 2009-10 Click here to view the key features of FVU version 6.3 & FVU 2.159 TDSMAN will incorporate new…
File Validation Utility (FVU) version 6.3 & 2.159 Changes in FVU validations for accepting statements prepared for newly allotted TANs This FVU has been enhanced to validate the enhanced TAN structure forming part of deductor details These validations will be applicable for regular as well as correction statements These versions of FVU is applicable with…
What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the various facilities available through online correction: Rectifying challan mismatch cases Addition of new challan to the statement Pay 220/interest/levy Add or Delete Salary Detail Rectifying statement challan information PAN Correction…
How many times can I furnish a correction TDS/TCS statement? A correction TDS/TCS return can be furnished many times to make changes in the regular TDS/TCS return where as a regular TDS/TCS return will be accepted at the TIN central system only once. What are the relevant points to be kept in mind while preparing…
Following are the common reasons for rejecting a correction statement: TAN is not valid as per data at TDSCPC Statement corresponding to regular token number / previous token number field, as given in correction return, does not exist Previous token number does not correspond to the last accepted correction statement at TDSCPC Correction is filed…
The procedure for requesting Form 16 from TRACES website has been given below: From FY:18-19 onwards, the Income Tax department is now providing both Part A and Part B of Form 16 (TDS certificate for employee) The steps for requesting Form 16 are: Login to TRACES after giving User ID, Password, TAN of the Deductor…