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…
Form 26AS is most important document for tax payers as it is a tax payment and deduction ledger for them. It shows Tax deducted /collected amount by deductors, Amount paid with TDS against form 15G/15H, tax paid by tax payer like advance tax,self assessment tax etc. Further it also shows refund amount . Every tax…
Deductors can correct two type of errors online after registration of digital signature. 1. Online correction of challan. 2. Online correction of PAN. Now TDSCPC website have given facility to correct challan without registering digital signature. First deductor have to register a request for correction of particular return and then they have to check its…
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…
TDSMAN (F.Y.: 2014-15) has been released with more features for the convenience of its users for both Regular Returns & Correction Returns. The software will support F.Y. 2014-15 and previous years starting from 2007-08. You will be able to transfer all your data from the 2013- 14 version to 2014-15 version. The eTDS return for Q4 of 2013-14 may be filed from this new version. TDSMAN is…
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…
The Centralized Processing Cell (TDS) automated the Default identification process in respect of TDS statements submitted. CPC (TDS) has highlighted the need for correct and complete reporting of data in the TDS statements and has therefore, implemented processes to enforce compliance. With the above functionality made available by TRACES, intimations have been sent to the deductors,…
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…
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…