Archive for the ‘TCS’ category

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.

TDS / TCS Rates – FY:2010-11

July 25th, 2010

View the complete document of TDS / TCS rates for Financial Year 2010-11 from the following link:

TDS-TCS-rates-FY-2010-11

TAN Correction Form – Download and Print

June 22nd, 2010

For making changes or corrections in the TAN data for the TAN alloted to you, download the TAN Correction Form. Use the Form for making corrections like change of address, name of firm, and other related changes to TAN.

Download the Form from the link below:

http://www.etaxindia.org/wp-content/uploads/2010/06/tan-correction-form.pdf

Income Tax Department press release dated January 20, 2010 on TDS

February 26th, 2010

As per new provision of tax deduction at source (TDS) under the Income Tax Act 1961 effective from April 1, 2010, TDS 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.

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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.

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