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

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 a)     Does not deduct the tax at source (either wholly or partly) from payments on which tax is required to be deducted under the Act.

b)    After deducting does not pay the same into the Government Treasury.

The Finance Act, 2010 has amended the said provisions and interest shall be levied as under:

•   At one percent for every month or part of a month from the date on which such tax was deductible to the date on which such tax is deducted; and

•   At one and one-half percent for every month or part of a month from the date on which such tax was deducted to the date on which such tax is actually paid.

The amended provisions are effective from 1^st July, 2010.

TDS-TCS-rates-FY-2010-11

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:

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

• New data structure (File format changes highlighted) version 4.0 [for quarterly e-TDS/TCS statement (Regular and correction)]

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.