Posts Tagged ‘changes in eTDS’

Forthcoming changes in TDS / TCS filing for Quarter 4

February 25th, 2011

In a recent communication, NSDL has outlined the following changes in eTDS statement filing for the Fourth Quarter:

  • It will be mandatory to provide the mobile number of the responsible person
  • Currently the system accepts TDS amount without proper calculation of Amount Paid / Credit * TDS Rate. Now, this would be strictly implemented
  • Deductee records will have to be flagged to show that the amount paid / credited is below the threshold limit, hence it is without tax deduction at source
  • Deductee records will have to be flagged where excess tax has been deducted
  • While making correction returns it will now be possible to update the Provisionally Booked Challans that is downloaded from the consolidated statement
  • Deductions u/s 80CCF will have to be shown separately in the Salary details as part of Form 24Q
  • Downloading of the consolidated statement would be simplified based on suggestions received from all around

Please note that official announcement and system modifications are still to be received from NSDL / Income Tax Dept. Once all details are in place, as usual we shall promptly update JS@eTDS Software (F.Y. 2010-11) to ensure trouble free filing of your TDS / TCS returns.

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UTN not mandatory for filing IT returns

September 12th, 2009

The Central Board of Direct Taxes have further decided that the Notification No. 31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962 shall be kept in abeyance for the time being.

Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or any other earlier AY, may continue to file their returns without mentioning the Unique Transaction Number (UTN) as required under the said Notification. The filing of such returns shall be treated as valid and in compliance to the requirements under section 139 of the Income Tax Act, 1961.

Further, the date from which the Notification No. 31 / 2009 shall become applicable on tax deducted at source (TDS) or tax collected at source (TCS) and deposited during the current financial year shall be notified by the Central Board of Direct Taxes subsequently.

All deductors / collectors of TDS / TCS may continue to deposit their TDS / TCS and file their quarterly TDS / TCS returns as per procedure existing prior to issuance of Notification No.31 / 2009 dated 25.3.2009.

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Modifications in the e-TDS/TCS data structure and new File Validation Utility applicable from October 1, 2009

September 4th, 2009

The data structure of quarterly e-TDS / TCS statements has been modified by the Income Tax Department to incorporate certain additional fields and validations to further improve the data quality.

Key changes in the data structure of both regular and correction e-TDS/TCS files are indicated below:

  1. The types of deductor in the data structure have been further bifurcated. For e.g. State Govt., Central Govt., Company, Firm etc.

  2. The following fields have been added: -

    • Ministry name,
    • PAO / DDO code,
    • PAO / DDO registration no.,
    • State name,
    • Name of the utility used for return preparation.

In addition to the new fields, certain functionalities as under have been built in the FVU:

  1. Functionality to verify the challan details quoted in the e-TDS / TCS returns with the challan details uploaded by banks is provided.

  2. In case of failure of verification of challans, a warning file containing details of challan mismatch will be generated.

  3. Statistic report generated by FVU will contain details of verification of challans and bifurcation of payment by Government deductors (transfer voucher / challan)

All deductors are required to ensure that quarterly e-TDS/TCS returns filed from October 1, 2009 is as per the new data structure. Any statement filed as per the old data structure will be rejected at TIN w.e.f October 1, 2009.

However, e-TDS / TCS correction on regular returns filed as per the old data structure (validated with FVU version upto 2.126) should be validated with FVU version 2.126 only.

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