TDS / TCS (Income Tax) – Information & Resource Bank
Given below are the steps for the submission of statements at TIN Facilitation Centers (TIN-FCs) or submission of statements at TIN website: 1. Submission of Statements at TIN Facilitation Centers (TIN-FCs). a. Please refer following URL https://www.tin-nsdl.com/tin-facilities.php to locate address details of TIN-FCs nearby you. b. Please submit .FVU file validated through latest File Validation…
The Income Tax Department has released today (13th April, 2016), the following new File Validation Utilities: FVU version 5.0-For statement pertaining to FY 2010-11 onwards FVU version 2.146-For statement up to FY 2009-10 Click here to view the key features of FVU version 5.0 Click here to view the key features of FVU version 2.146…
The key features of File Validation Utility (FVU) version 2.146 has been given below: Incorporation of TAN and TAN name in the Challan Status Inquiry (i.e. .CSI) file and verification with the TDS/TCS statement during the time of validation through the FVU. TAN: In case, the TAN of the Deductor/Collector as per .CSI file does not…
Following are different matching statuses in Form 16 / Form 16A: U-Unmatched (Deductor has not deposited taxes or has furnished incorrect particulars of tax payment. Final credit will be reflected only when payment detail in bank matches with details of deposit in TDS/TCS statement) P-Provisional (Provisional tax credit is effected only for TDS / TCS…
What is view TDS / TCS credit? This is a facility which can be availed by deductor in order to verify whether the PANs for which user is deducting TDS are getting the credit for the same or not. This feature is available for only those PANs for which TDS / TCS statement has been…
Below are the Different statuses available on TRACES regarding TDS / TCS statement Following processing status shall be displayed for regular statement: Pending for Processing Processed for Form 26AS Processed without Defaults Processed with Defaults Following processing status shall be displayed for correction statement: Pending for Processing Processed for Form 26AS Processed without Defaults Processed…
Under Chapter XVII-B of the Act, a person is required to deduct tax on certain specified payment at the specified rate if the payment exceeds the specified threshold. The person deducting tax (the deductor) is required to file a quarterly Tax Deduction at Source (TDS) statement containing the details of deduction of tax made during…
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…
It is mandatory for Government deductors, who are reporting TDS without payment through bank challans, to quote correct Book Identification Number (BIN), while filing TDS/TCS statement. In case correct BIN is not quoted in the respective TDS statement, a Short Payment demand shall be raised by CPC(TDS). BIN is generated by the Tax Information Network…