Posts Tagged ‘eTDS filing’

Due dates for filing eTDS returns changed w.e.f. 1st November, 2011

November 2nd, 2011


——–The amendment is applicable only for Govt. Deductors——–

Income Tax Department has changed the date for filing of quarterly eTDS returns for Govt. Deductors vide notification 57/2011 dated 24.10.2011 – The due date of filing eTDS returns has been extended by 15 days for first three quarters of the Financial year but remains the same for last quarter ending 31st March. The amendment is applicable from 01.11.2011 & so it is applicable from the 3rd quarter of F.Y. 2011-12.

Please Note: The changed due dates are applicable only for Government Deductors. For other Deductors there is no change in the due dates.

 Due dates: eTDS returns 24Q, 26Q 27Q & Form16, Form 16A

Sl. No.

Date of ending of the quarter

Due dates for Govt. offices

Due dates for other deductors

eTDS return

Form 16A

eTDS return

Form 16A

1

30th June

31st July

15th August

15th July

30th July

2

30th September

31st October

15th November

15th October

30th October

3

31st December

31st January

15th February

15th January

30th January

4

31st March

15th May

30th May
(31st May for form 16)

15th May

30th May
(31st May for form 16)

Note:

This notification relates to eTDS returns covered under rule 31A means for quarterly returns for Forms – 24Q (Salary), 26Q (section 193 to 196D except entries covered in 27Q) and 27Q. As the rule 31AA has not been amended so TCS (Form 27EQ) return due dates remains unchanged unless notified later. Form 16A is to be issued within 15days from the due date of eTDS return filing. So, accordingly now 15 days more are available for issuance of Form 16A also for Govt. Deductors.

New & improved JS@eTDS Software released

June 16th, 2011

The JS@eTDS Software for the F.Y. 2011-12 has been released with many new features & added improvements and is economically priced at Rs. 1195/- only.

Newly added features in JS@eTDS (F.Y. 2011-12):

  • Integrated NSDL FVU
  • Auto download of CSI file
  • FVU generation in a click
  • Data import from FVU files
  • Reports in PDF/Excel/Word
  • Web based instant updation

Use the JS@eTDS Software for convenient filing of your eTDS and eTCS returns on time. Click here to Order Now

You can also start processing your first quarter returns for F. Y. 2011-12 at no cost using the new Trial Version of JS@eTDS. Click here to download the Trial Version

Income Tax Dept. releases new File Validation Utilities (FVU) on 01.10.2010

October 4th, 2010

NSDL has released two new File Validation Utilities, details of which can be viewed from the following links:

FVU 3.0 (For: F.Y.2010-11) - http://www.jcs-etds.com/download/fvu-30-features-041010.pdf

FVU 2.129 (For: upto F.Y.2009-10) - http://www.jcs-etds.com/download/fvu-2129-features-041010.pdf

The new File Validation Utilities is to be used for all eTDS/eTCS returns to be filed on and after 01.10.2010. Please follow the link below to download the same:

http://jcs-etds.com/new-fvu-release.php

Higher (20%) TDS rate without PAN from 01.04.2010

September 13th, 2010

A new provision relating to tax deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect from 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available. The law will also apply to all non-residents in respect of payments / remittances liable to TDS. As per the new provisions, certificate for deduction at lower rate or no deduction shall not be given by the assessing officer under section 197, or declaration by deductee under section 197A for non-deduction of TDS on payments shall not be valid, unless the application bears PAN of the applicant / deductee.

All deductors are liable to deduct tax at the higher rate in all transactions not having PAN of the deductees on or after 1st April 2010. In order that there is no dispute regarding quoting / non-quoting of PAN or accuracy thereof, the law requires all deductees and dedutors to quote PAN of deductees in all correspondences, bills, vouchers and other documents sent to each other. All deductors are, therefore, advised to intimate their deductees to obtain and furnish their PAN so as to avoid TDS at a higher rate. All deductees, including non-residents having transactions in India liable to TDS, are advised to obtain PAN by 31st March 2010 and communicate the same to their deductors before tax is actually deducted on transactions after that date.

The procedure for obtaining PAN is simple, inexpensive and quick. Application for PAN can be filed in Form 49A to National Securities Depository Ltd. (NSDL) or Unit Trust of India InvestorServices Ltd. (UTIISL) or their intermediaries. Non-residents can apply through the local embassy / consulate of India.

New Changes in TDS Rules – CBDT Release No. 402/92/2006-MC (27 of 2010), dated 2-6-2010

June 5th, 2010

The Central Board of Direct Taxes (CBDT) have amended the Rules relating to TDS provisions date and mode of payment of tax deducted at source (TDS), TDS certificate and filing of ‘statement of TDS’ (TDS return) vide Notification No. 41/2010; SO No. 1261(E) dated 31.05.2010. The amended rules will apply only in respect of tax deducted on or after 1st day of April 2010.

Forms for TDS certificate have been revised to include the receipt number of the TDS return filed by the deductor. Now the Tax-deduction Account Number (TAN) of the deductor, Permanent Account Number (PAN) of the deductee, and Receipt number of TDS return filed by the deductor will form the unique identification for allowing tax credit claimed by the taxpayer in his income-tax return.

Government Authorities (Pay and Accounts Officer or Treasury Officer or Cheque Drawing and Disbursing Officer) responsible for crediting tax deducted at source to the credit of the Central Government by book-entry are now required to electronically file a monthly statement in a new Form No. 24G containing details of credit of TDS to the agency authorised by the Director General of Income-tax (Systems).

Due date for furnishing TDS return for the last quarter of the financial year has been modified to 15th May (from earlier 15th June). The revised due dates for furnishing TDS return are:

Sl. No.

Date of ending of the quarter of the financial year

Due date

1.

30th June

15th July of the financial year

2.

30th September

15th October of the financial year

3.

31st December

15th January of the financial year

4.

31st March

15th May of the financial year immediately following the financial year in which deduction is made

Due date for furnishing TDS certificate to the employee or deductee or payee is revised as under:

Sl. No.

Category

Periodicity of furnishing TDS certificate

Due date

1.

Salary (Form No.16)

Annual

By 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted

2.

Non-Salary
(Form No.16A)

Quarterly

Within fifteen days from the due date for furnishing the ‘statement of TDS’

Sl. No.

Date of ending of the quarter of the financial year

Due date

1.

30th June

15th July of the financial year

2.

30th September

15th October of the financial year

3.

31st December

15th January of the financial year

4.

31st March

15th May of the financial year immediately following the financial year in which deduction is made