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

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Correction in OLTAS Challan

NSDL receives tax collection data as uploaded by the bank. NSDL is not authorized to carry out any changes in the data sent by the bank to TIN. The fields that can be corrected by the Taxpayer through Bank are tabulated below: Sl. No. Type of Correction on Challan Period for correction request (in ...

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Preparation of correction TDS / TCS statement

As directed by DIT (Systems), deductors/collectors are advised to prepare correction TDS/TCS statements using consolidated TDS/TCS file only, provided by TIN. Consolidated TDS/TCS file is provided to registered TANs. Detailed procedure for registration of TAN and procuring consolidated TDS/TCS file is available at TIN website (www.tin-nsdl.com) under the service menu. In ...

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TIN-NSDL to provide TDS Certificate - Form 16A

CBDT has recently vide Circular No. 3/2011 permitted issue of certificate for tax deducted at source (TDS certificate) with digital signature for TDS from income other than salary income (non-salary TDS) in Form 16A. The Deductors exercising this option need to download Form 16A from the Tax Information Network (TIN) website. The ...

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Online Registration of TAN by TDS/TCS Deductors

The income tax department has asked all deductors to register their TAN on NSDL web site. Once registered, the deductors will be provided User ID and password for authenticated access. Benefit of registration The access will result in the following benefits to the deductors: •    View of status of all statements filed; •    Download of ...

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Higher (20%) TDS rate without PAN from 01.04.2010

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 ...

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General points to remember for filing eTDS / eTCS returns

1. Each e-TDS return file (Form 24, 26 or 27) should be in a separate CD/floppy. Also, each e-TDS return file should be in one CD/floppy. It should not span across multiple floppies.  In case the size of an e-TDS return file exceeds the capacity of one floppy, it should ...

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Forthcoming changes in TDS / TCS filing for Quarter 4

February 25th, 2011 by admin 14,682 comments »

In a recent communication, NSDL has outlined the following changes in eTDS statement filing for the Fourth Quarter:

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Posted in NSDL, TCS, TDS

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Due date for filing of TDS / TCS returns of Quarter 3

January 7th, 2011 by admin 4,319 comments »

The last date for filing TDS / TCS returns for the third quarter (Q3) of F.Y. 2010-11 is 15th January, 2011.

With JS@eTDS Software you have a convenient option of generating your eTDS returns and subsequently generating & priniting TDS certificates.
Further, also note, last date for issuance of the TDS certificate for the third quarter (Q3) is 30th January, 2011.

4,319 comments »

Posted in Softwares, TCS, TDS

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Interest for non payment of TDS after deduction

December 30th, 2010 by admin 29,883 comments »

The interest rate on default on TDS compliance has been amended by the Finance Act 2010, according to which an assessee is regarded to be in default on the following instances:

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29,883 comments »

Posted in NSDL, TCS, TDS

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eTDS Return Processing – CBDT instructions on short deduction by small amounts

December 17th, 2010 by admin 3,112 comments »

INSTRUCTION NO. 8/2010 [F.NO. 275/73/2009-IT(B)] dated 8.12.2010 states that, in the present system of processing of e-TDS returns, the returns are processed online and mismatch report showing defaults on various accounts is generated. Based on this mismatch report, the assessing officers issue show-cause notices to the deductors and take follow up actions. 

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3,112 comments »

Posted in NSDL, TCS, TDS

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