Posts Tagged ‘income tax’

JS@eTDS (F.Y. 2010-11) Update released on 05.10.2010 in compliance to the new statutory changes

October 7th, 2010

On behalf of the I.T. Dept., NSDL has released the new File Validation Utility (FVU Ver. 3.0) for all eTDS/eTCS returns to be filed on and after 01.10.2010.

In compliance to these statutory changes, JS@eTDS (F.Y. 2010-11) has been accordingly updated and is being released for all its users on 05.10.2010 which will enable timely filing of returns for the second quarter (Q2).

Primarily the update takes care of payment to Transporters at zero TDS and the modified system of handling Book Entry transactions for Govt. Deductors.

The highlights of the update can be viewed from the following link:

You will need to download the update for the software from the following link:

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) -

FVU 2.129 (For: upto F.Y.2009-10) -

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:

SMS Based Service For Challan Status

September 3rd, 2010
National Securities Depository Limited (NSDL) provides CIN (Challan Identification Number) based view of direct tax challans to taxpayers to know the status of challan on its web-site. In addition to the above facility, NSDL has launched a Short Message Service (SMS) based facility to know the status of its challans. The procedure for availing this facility is as under:
The tax payer can send an SMS to 575758 with a message containing the word CSI followed by a space and CIN provided by the respective Bank at the time of making the Direct tax payment.
The CIN should be separated by comma (,).
Challan Identification Number (CIN ) consists of details such as BSR Code of Collecting Branch (seven digit) , Challan Tender Date (DDMMYYYY) and Challan Serial No (length less than or equal to 5 digit) and Amount.
The amount is an optional field. If the amount is entered by the tax payer he would get the confirmation whether amount entered is matched or otherwise as per NSDL database.
For e.g., if the tax payer input “CSI 0510001,11032009,5,5000” where in 0510001” is the BSR code of the collecting branch, “11032009” is the Challan tender date, “5” is the Challan serial number and “5000 is the amount paid by the taxpayer.The tax payer will get the information against which TAN/PAN the payment has been accounted with the confirmation whether amount entered is matched or not. (This is an illustrative challan identification number, actual CIN should be provided in the SMS).
There will be special charges for these SMS. These charges may vary from one mobile service-provider to another. The charge structure can be obtained from the concerned service-provider. The status of the CIN based view will continue to be available from NSDL-TIN web-site or NSDL Call Centre at 020-27218080 or Aykar Sampark Kendra at 0124- 2438000.

Direct tax collection at Rs 3,78,350 cr in FY’10: CBDT member

May 15th, 2010

The direct tax collection for 2009-10 is Rs 3,78,350 crore as against the revised target of Rs 3.8 lakh crore.

Speaking at the inaugural function of an Assocham conference on TDS, CBDT member Durgesh Shankar said the all-India direct tax collections have gone up from Rs 3,38,212 crore in 2008-09 to Rs 3,78,350 crore in 2009-10, registering a growth of 11.8 per cent.

The share of TDS (Tax Deduction at Source) has not grown commensurately with the rise in direct tax collection in 2009-10, he said.

The growth in TDS collection has dipped to 36.91 per cent from the earlier 38.49 per cent.

The actual TDS collection has touched Rs 1,39,529 crore from Rs 1,30,172 crore, he said, adding that Bangalore has out-performed many other regions across the country in this regard.

Stating that there is considerable potential for enhanced TDS collection, Shankar said that the government is bringing about a paradigm shift in the functioning of the I-T Department through e-filing, introduction of a tax information network and greater interaction with tax payers.

Manual processing of I-T returns is being phased out gradually and e-filing of corporate returns has been made mandatory, he added.

It is encouraging to see taxpayers taking the e-filing route, Shankar said, adding that central processing centres are being set up at different locations to ensure speedy tax refund.

Income-tax ( First Amendment) Rules, 2010 (TDS/TCS Rules)

February 25th, 2010

Notification has been issued by Ministry of Finance, CBDT, amending the rules regarding Time and mode of payment to Government account of tax deducted/collected at source or tax paid under Section 192/206C, Certificates of tax deducted/collected at source or tax paid, Quarterly statement of deduction/collection of tax.