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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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NSDL releases new Return Preparation Utility (RPU version 2.3) for returns upto F.Y. 2009-10

November 4th, 2010 by admin 14,525 comments »

NSDL releases new Return Preparation Utility (RPU version 2.3) for returns upto F.Y. 2009-10. The Key Features of RPU version 2.3 is hereunder:

Online TAN Registration mandatory for all TAN holders

October 26th, 2010 by admin 18,811 comments »
Income tax department now makes mandatory to register their TAN (tax deduction account number) online on TIN-NSDL site.

Authenticated access (through user ID and password) will be provided to registered deductors. On login, the following will be available to the deductors:-

Nil TDS on Transport Contracts

October 19th, 2010 by admin 13,840 comments »

As per the amended section 194C, through Finance Act (2) of 2009, No deduction shall be made from any payments made to a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN to the deductor.

NSDL released Return Preparation Utility (version 2.2) for F.Y. 2010-11

October 11th, 2010 by admin 14,940 comments »
NSDL released Return Preparation Utility (RPU version 2.2) for FY 2010-11 on October 9, 2010. The Key Features of RPU version 2.2 are hereunder:

A. Preparation of quarterly e-TDS/TCS statements (regular and correction) pertaining to FY 2010-11