Posts Tagged ‘Income Tax Department’

TIN-NSDL to provide TDS Certificate – Form 16A

July 15th, 2011

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 new facility is available for issue of Form 16A from financial year 2010-11 onwards. The Circular states that Companies, Banks & Deductors engaged in banking business will need to mandatorily issue Form 16A downloaded from the TIN website from FY: 2011-12.

Visit www.tin-nsdl.com for more details

JS@eTDS (F.Y. 2010-11) Update released on 05.10.2010 in compliance to the new statutory changes

October 7th, 2010

On behalf of the I.T. Dept., NSDL has released the new File Validation Utility (FVU Ver. 3.0) for all eTDS/eTCS returns to be filed on and after 01.10.2010.

In compliance to these statutory changes, JS@eTDS (F.Y. 2010-11) has been accordingly updated and is being released for all its users on 05.10.2010 which will enable timely filing of returns for the second quarter (Q2).

Primarily the update takes care of payment to Transporters at zero TDS and the modified system of handling Book Entry transactions for Govt. Deductors.

The highlights of the update can be viewed from the following link: http://jcs-etds.com/download/jsetds-update051010-highlights.pdf

You will need to download the update for the software from the following link: http://www.jcs-etds.com/updates.php

Income Tax Dept. releases new File Validation Utilities (FVU) on 01.10.2010

October 4th, 2010

NSDL has released two new File Validation Utilities, details of which can be viewed from the following links:

FVU 3.0 (For: F.Y.2010-11) - http://www.jcs-etds.com/download/fvu-30-features-041010.pdf

FVU 2.129 (For: upto F.Y.2009-10) - http://www.jcs-etds.com/download/fvu-2129-features-041010.pdf

The new File Validation Utilities is to be used for all eTDS/eTCS returns to be filed on and after 01.10.2010. Please follow the link below to download the same:

http://jcs-etds.com/new-fvu-release.php

SMS Based Service For Challan Status

September 3rd, 2010
National Securities Depository Limited (NSDL) provides CIN (Challan Identification Number) based view of direct tax challans to taxpayers to know the status of challan on its web-site. In addition to the above facility, NSDL has launched a Short Message Service (SMS) based facility to know the status of its challans. The procedure for availing this facility is as under:
The tax payer can send an SMS to 575758 with a message containing the word CSI followed by a space and CIN provided by the respective Bank at the time of making the Direct tax payment.
The CIN should be separated by comma (,).
Challan Identification Number (CIN ) consists of details such as BSR Code of Collecting Branch (seven digit) , Challan Tender Date (DDMMYYYY) and Challan Serial No (length less than or equal to 5 digit) and Amount.
The amount is an optional field. If the amount is entered by the tax payer he would get the confirmation whether amount entered is matched or otherwise as per NSDL database.
For e.g., if the tax payer input “CSI 0510001,11032009,5,5000” where in 0510001” is the BSR code of the collecting branch, “11032009” is the Challan tender date, “5” is the Challan serial number and “5000 is the amount paid by the taxpayer.The tax payer will get the information against which TAN/PAN the payment has been accounted with the confirmation whether amount entered is matched or not. (This is an illustrative challan identification number, actual CIN should be provided in the SMS).
There will be special charges for these SMS. These charges may vary from one mobile service-provider to another. The charge structure can be obtained from the concerned service-provider. The status of the CIN based view will continue to be available from NSDL-TIN web-site www.tin-nsdl.com or NSDL Call Centre at 020-27218080 or Aykar Sampark Kendra at 0124- 2438000.

New Changes in TDS Rules – CBDT Release No. 402/92/2006-MC (27 of 2010), dated 2-6-2010

June 5th, 2010

The Central Board of Direct Taxes (CBDT) have amended the Rules relating to TDS provisions date and mode of payment of tax deducted at source (TDS), TDS certificate and filing of ‘statement of TDS’ (TDS return) vide Notification No. 41/2010; SO No. 1261(E) dated 31.05.2010. The amended rules will apply only in respect of tax deducted on or after 1st day of April 2010.

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:

Sl. No.

Date of ending of the quarter of the financial year

Due date

1.

30th June

15th July of the financial year

2.

30th September

15th October of the financial year

3.

31st December

15th January of the financial year

4.

31st March

15th May of the financial year immediately following the financial year in which deduction is made

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

Sl. No.

Category

Periodicity of furnishing TDS certificate

Due date

1.

Salary (Form No.16)

Annual

By 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted

2.

Non-Salary
(Form No.16A)

Quarterly

Within fifteen days from the due date for furnishing the ‘statement of TDS’

Sl. No.

Date of ending of the quarter of the financial year

Due date

1.

30th June

15th July of the financial year

2.

30th September

15th October of the financial year

3.

31st December

15th January of the financial year

4.

31st March

15th May of the financial year immediately following the financial year in which deduction is made