1. What is Form 16B? Form 16B is the TDS certificate to be issued by the deductor (purchaser/buyer of immovable property) to the deductee (Seller of immovable property) in respect of the taxes deducted on the sale of immovable property and deposited into the Government Account. 2. Who can download Form 16B? Only a purchaser/buyer,…
An important message has been displayed for the deductors on the TRACES website regarding downloading of conso file. The displayed message has been given below: Attention Deductors: Your request for download of Conso File will not be accepted in case there are unmatched challans in the selected statement. Please match all challans through Online Correction…
TRACES has provided an e- Tutorial on its website for queries where Conso-file is N/A due to un-matched Challan. The e – Tutorial has been given below:
According to the information displayed on TRACES website, processing of statements might take 7 to 10 working days from date of filing due to peak statement filing time. 90% of the statements filed till 15th Oct 2014 have been processed for 26AS. Sources: TRACES
CPC(TDS) has released a survey “Deductor’s Survey Questionnaire: Your Feedback Matters” with an objective to understand the satisfaction of the deductors since the time CPC(TDS) and TRACES website came into existence. In this regard CPC(TDS) has issued a communication to deductors which is given below: Dear Deductor (TAN XXXXXXXXXX) Greetings from CPC(TDS) team! CPC(TDS) feels…
Given below are some dos and don’t for filing of TDS returns: Dos Ensure that TDS return is filed with 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 deductee record….
CPC (TDS) has issued a communication to banks regarding raising of Flag “B” in TDS Quarterly Statements against 15G/H transactions. The issued communication has been given below: Dear Deductor (TAN XXXXXXXXX), As you may be aware that the depositors submit form 15G/H to the bank for no deduction of tax to be made on the…
CPC (TDS) has issued a advisory communication in which it has recommended deductors that in case there are Short Payment Defaults in their TDS Statements due to Mismatch of Challans then they can get the default closed using Online Correction feature, which is available for TDS Statements related to Financial Year 2007-08 onwards. The issued…
1. What is a conso file? It is the consolidated data of the statements processed (regular & correction) for the relevant Financial Year, Quarter and Form Type. 2. Why is a conso file required? While filing correction for a particular Financial Year, Quarter and Form Type, conso file provides details about all the previous corrections…
CPC (TDS) has issued an advisory communication to all deductors who have used multiple challans in a month for payment of TDS. In its advisory, CPC (TDS) has discussed about three main points: Payment of Tax Deducted under different sections of the Income Tax Act, 1961 Payment of Tax Deducted for different Assessment Years Different…