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PREPARED BY CA Darshan M. Panchal B-16 Ground Floor, (B.Com,L.L.B, ISA (ICAI), A.C.A) Vasupujya Chambers (M) 9974012893 I.T Circle, Ashram road Email :

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Presentation on theme: "PREPARED BY CA Darshan M. Panchal B-16 Ground Floor, (B.Com,L.L.B, ISA (ICAI), A.C.A) Vasupujya Chambers (M) 9974012893 I.T Circle, Ashram road Email :"— Presentation transcript:

1 PREPARED BY CA Darshan M. Panchal B-16 Ground Floor, (B.Com,L.L.B, ISA (ICAI), A.C.A) Vasupujya Chambers (M) I.T Circle, Ashram road Ahmedabad

2 AO to provide the user ID as well as password at the time of registration. Option available to provide two IDs. On registration with user ID in password protected PDF file is sent. Within 24 hours AO registration account is activated. Online facility to download BIN details available. Online upload for Form 24G statements is available.

3 For Government Deductor to File quarterly Statements following are some of the pre-requisites : 1. Obtain Account officer Identification number (AIN). 2. File 24 G in Prescribed Format. 3. Now file TDS quarterly Statement.

4 Background  Government deductors – mandatory to file electronic returns (TDS/TCS).  Government deductors normally deposit tax through book entry (not through banks).  No independent source to confirm tax payment except BIN view. Form 24G

5 ... continued  PAO / DTO / CDDO to file statement in Form 24G. (ITD Notification no. 41/2010 dated May 31, 2010).  Form 24G can be filed from F. Y and onwards.  Accounts officer identified by AIN (Account Officer Identification No.).  Frequency - Monthly and in electronic form only.  Due date of filing of Form 24G is 10 th of subsequent month. Form 24G

6 Details of the AO filing Form 24G : AIN, Name of AO, demographic information, category of AO (Central/State, Ministry name etc). Statement details :- Month and Year for which Form 24G is being filed. Nature of deduction: - TDS (Salary, Non Salary) / TCS. DDO wise payment details:- TAN, DDO number, Name of DDO, tax deducted and remitted. Details to be filled in Form 24G

7  Preparation ◦ File format ◦ NSDL RPU, in-house or third party software  File Validation Utility (FVU)  Acceptance through SAM - Generation of Provisional Receipt Number  Upload by TIN-FC Preparation and Filing of Form 24G

8 Submission of Form 24G statement Statement should be submitted in CD/Pen Drive Single computer media may contain multiple statements After acceptance of statement, CD / Pen Drive should be returned to Accounts Office (AO) Documents to be submitted to TIN-FC are Statement Statistics report FVU file Procedure for Submission of Form 24G statement

9 Submission of e-TDS/TCS statement Statement should be submitted in CD/Pen Drive Single computer media may contain multiple statements After acceptance of statement CD / Pen Drive should be returned to deductor by Tin- FC Documents to be Submitted to TIN-FC are Form 27A FVU File Copy of original provisional receipt (in case of correction statement) Statistical Report generated through HTML File(in case of correction statement). Procedure for submission of e-TDS/TCS statement

10 DEDUCTOR TAX PAYER ERACS TIN - FC DIRECT UPLOAD DIRECT UPLOAD OLTAS (BANKS) OLTAS (BANKS) TIN Central System TIN Central System TIN VIEWS DEDUCTORS + CHALLAN STATUS VIEW (STATEMENT STATUS) DEDUCTORS + CHALLAN STATUS VIEW (STATEMENT STATUS) ITD VIEW TDS/TCS RETURN TAX TAX (TDS/TCS) RETURN CHALLAN STATUS FILER AIR

11  Paper Return  E-tds Return Through Tin-Fc  Online filling along with DSC at Tin-NSDL website

12 Paper Return 1.What is Paper Return ? Manual Submission Of TDS quarterly statement in form 24Q/26Q 2. Who Can File Paper Return ? All Assessee, except  Those who are required to get books of a/c audited u/s 44AB  Government Deductor  Required to gettheir books of account audit under any other act.  Deductor having more than 20 deductee entries

13  What is pre-requirement of paper return ? Complete, legible and signed Mandatory fields - TAN, Name, Form No., F. Y. and Quarter No enclosures - Bank challan / TDS/TCS certificate etc. Correction, if required, in full and in paper form only Copy of original Provisional Receipt (if correction statement).

14  Deductor details – TAN, Name of deductor  Challan details – CIN, amounts, section code  Deductee details, Salary details – Name of deductee/ employee, PAN and amounts Impact of errors in digitization  Impact on booking of challans  Impact on tax credit to underlying deductees (view in Form 26AS)  Impact on assessment  Revised statement uploaded before cancellation of original paper statement

15 Form No. PeriodicityDue Date 24Q Quarterly For first three quarters: within 15 days from end of quarter for Non-Government deductors. within 30 days for Government deductors. For last quarter: up to 15 th May in the succeeding F. Y. 26Q 27Q 27EQ 27AWith each e-TDS/TCS statement. Due dates are for deductors / collectors. Quarterly (From F. Y onwards)

16 Preliminary Checks OK Format Level Verification passed TAN verification OK Name and address verification OK Control Total matched with Form 27A TIN-FC Deductor submits return to TIN-FC Preliminary Checks not OK Format level error Neither TAN is in data base nor any proof of TAN Mismatch in name/address – no proof Control Total do not match with Form 27A Acceptance / Non-Acceptance of Returns Billing on the basis of number of deductees in the accepted statement Provisional Receipt Non- Acceptance Memo Processing of e-TDS/TCS Statements (Regular)

17 Acceptance of Correction Statements  Need for correction statement In case of mistake in original return, if mistake is in…  Challan Detail.  Deductee Detail.  Deductor Detail.  Payment of Interest reply to notice.

18  Process to make correction Statement. o Register TAN at TRACES site. o Log in to Traces with USER Id and Pass ward. o Request consolidated file by providing detail of challan and Deductee pan and corresponding TDS AMOUNT. o Download consolidated.tds file from TRACES. o Default file can be download shows default amount.

19 o Prepare correction file using latest RPU and FVU provided from NSDL time to time. ◦ No. of Batches = No. of provisional receipts ◦ More than one type of correction in one TDS correction statement possible.eg. Change of PAN, Change in deductee details, Change in challan detail, Change in Deductor return etc. ◦ Copy of TDS provisional receipt is to be attached with the form 27A with reference of the same in computer generated.fvu file. ◦ More than one time correction possible. There is no such provision to restrict correction in original TDS return.

20 Online Views at NSDL  Challan Status Enquiry TAN BASED VIEW CIN BASED VIEW  Statement Status View  BIN view (For those who have filed 24G) Online views at TRACES  Credit of TDS to deductee.  Unclaimed challans.  Verification of Lower Deduction Certificate No.  Default generated for TDS/TCS statement.  Pan Verification  Online request for Refund  Online correction in Pan or Challan amount with DSC

21 Rectification of errors Errors in physical challan by Bank or Taxpayer For any other error, deductor needs to contact Assessing Officer Sr. No.Type of Correction on Challan Period for correction request (in days) 1PAN/TANWithin 7 days from challan deposit date 2Assessment YearWithin 7 days from challan deposit date 3Total AmountWithin 7 days from challan deposit date 4Major HeadWithin 3 months from challan deposit date 5Minor HeadWithin 3 months from challan deposit date 6Nature of PaymentWithin 3 months from challan deposit date

22  PAN Errors  Taxies / Interest payment or Mismatch  Non Submission of Statement or challan

23  Show Cause Notice u/s 201(1) of I.T. Act,1961.  Normally Show Cause Notice is not Responded by Assessee and no Attention is paid to the direction in show cause notice.  Photo copy of Return and Challans are submitted to A.O. and system is blamed for default which is not correct.

24  Default Details can be download from TRACES through Deductor Log-in in excel format.  This default shows list of short payment records, short deductions records and list of Late payment records.

25 Deductor to file Correction statement in Consolidated file available from TRACES and respective correction made File correction statement at NSDL TIN-FC Return is process at TRACES Default is Remove after validation

26 1.Deletion of deductee record:  Feature of deletion of the deductee record is removed. To nullify a deductee record update the amount and related fields to “0”(zero) and add new row and update record in that row with updated value. 2.Date of deduction: Date of deduction of previous quarter or next quarter is not allowed. 3.Correction or Regular returns to be prepared only using latest available FVU versions from TRACES or NSDL site.

27 4. 27A is generated on Validation of Statement by TDS/TCS FVU. And this are Barcoded statement so need to generate fresh 27A every time there is fresh Validation. 5. There is no need to provide copy of Original Token Receipt or copy of statistical reports print.

28  In Default menu request for correction to be selected through Digital Sign.  Respective Financial year, Quarter and form type is required to be selected.  Only two types of correction allowed. ◦ Challan correction ◦ PAN correction

29  After editing PAN and challan details correction confirm button to be click to submit correction return for submission page.  Again in default menu “correction ready for submission” filed selected and row of return corrected is selected and then submit for processing button is to be click.  After successful submission message will be displayed of successful submission.

30  current issues.docx current issues.docx

31 CONTACT B-16, Ground Floor, Vasupujya Chambers, Nr. Income Tax Circle, Ashram Road, Ahmedabad – Ph no M. no


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