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New Changes in TDS Certificate – announced by IT Dept.

August 25th, 2010

In the recent announcement as published in the NSDL-TIN web portal, from the FY 2010-11, instead of printing the Provisional Receipt No. (as provided in the Acknowledgement received on of submission of the TDS return), the Receipt No. is to be printed.

Receipt number to be quoted in Form 16/16A will be generated by TIN. The Receipt number will be generated for the quarterly TDS/TCS statements pertaining to FY 2010-11 and onwards uploaded to TIN. Receipt number generated will be of eight digits (alphabets) and will be applicable only for statements pertaining to FY 2010-11 and onwards. The Eight digit receipt number can be obtained by viewing the status of the quarterly TDS/TCS statement at under Quarterly Statement Status feature available at TIN website (www.tin-nsdl.com).

Receipt number provided by TIN is in addition to the provisional receipt number provided on acceptance/upload of quarterly TDS/TCS statement. Provisional receipt number will be referred as Token no for the statements pertaining to FY 2010-11 and onwards.

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Posted in NSDL, TCS, TDS

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TIN & NSDL

August 26th, 2009

Tax Information Network (TIN), a repository of nationwide Tax related information, has been established by National Securities Depository Limited (NSDL) on behalf of Income Tax Department of India (ITD). TIN is an initiative by ITD for the modernisation of the current system for collection, processing, monitoring and accounting of direct taxes using information technology.

TIN system:


TIN has three key sub-systems:

  • Electronic Return Acceptance and Consolidation System (ERACS) which consists of an infrastructure for interface with the taxpayers (a nation wide network of TIN-Facilitation Centres i.e. TIN-FC) and a web-based utility for upload of electronic returns of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS) and Annual Information Return (AIR) to the central system of TIN.
  • Online Tax Accounting System (OLTAS) for daily upload to the central system, the details of tax deposited in various tax collecting branches across the country.
  • Central PAN Ledger Generation System (CPLGS) which is the central system that consolidates for each PAN:
    1. details of tax deducted/collected on its behalf (TDS/TCS) which is obtained by matching the TDS/TCS returns submitted by the deductors/collectors with the tax deposit (challan) information from the banks;
    2. details of the tax deposited (advance tax/self assessment tax) directly by the taxpayer with the bank;
    Refer to http://www.tin-nsdl.com/ for furthur details.

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Posted in TCS, TDS

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