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WELCOME TO TDS AWARENESS / e-filing of TDS Returns PROGRAMME – 07.08.2014. TDS WARD, MADURAI. What is TDS. With holding tax or Tax deduction at source means, deduction of tax as and when the transaction takes place i.e , when the payment is made or payable, which ever is earlier. - PowerPoint PPT Presentation
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WELCOME TO TDS AWARENESS / e-filing of TDS Returns PROGRAMME – 07.08.2014
TDS WARD, MADURAITDS WARD, MADURAI
What is TDS What is TDS With holding tax or Tax deduction at With holding tax or Tax deduction at
source means, deduction of tax as and source means, deduction of tax as and
when the transaction takes place i.e, when the transaction takes place i.e,
when the payment is made or payable, when the payment is made or payable,
which ever is earlier.which ever is earlier.
Since Government needs revenue to Since Government needs revenue to
function, it is very important to have a function, it is very important to have a
flow of revenue to meet the expenditure.flow of revenue to meet the expenditure.
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TDS Cycle TDS Cycle Indentifying the transaction Indentifying the transaction Tax deduction and remittanceTax deduction and remittance Collection of CIN/BIN (Collection of CIN/BIN (Book Identification Book Identification
NumberNumber)) Preparation of Quarterly e-TDS returnsPreparation of Quarterly e-TDS returns Uploading the e-TDS return through TIN-FCUploading the e-TDS return through TIN-FC Issue of Form No.16/16AIssue of Form No.16/16A
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Identifying the transactionIdentifying the transaction First check whether the payment made is attracts TDS First check whether the payment made is attracts TDS
liability or not, then classify the payment into two categories liability or not, then classify the payment into two categories
1. 1. SalarySalary
2. 2. Non-SalaryNon-Salary ( (Contract Payments, Professional Fees, Contract Payments, Professional Fees,
Parking lot lease etc.Parking lot lease etc.,),)
Note:Note: Even payable entries(transactions) also attracts Tax Even payable entries(transactions) also attracts Tax
deduction at source.deduction at source.
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Tax deduction and Tax deduction and remittanceremittance
It is the duty of the deductor (who is responsible of signing the It is the duty of the deductor (who is responsible of signing the bills or the paying authority) to deduct income tax at the time of bills or the paying authority) to deduct income tax at the time of payment as per the prevailing rates and make sure correctness payment as per the prevailing rates and make sure correctness of the details of PAN which is submitted by the deductee/payee.of the details of PAN which is submitted by the deductee/payee.
Remittance:Remittance: 1. By Challan (No.281, for the TDS payments)1. By Challan (No.281, for the TDS payments) 2. By Book-adjustment (through Treasury or PAO)2. By Book-adjustment (through Treasury or PAO) Time Limit:Time Limit: 1. If the tax is to be paid by 1. If the tax is to be paid by challanchallan – – 77thth of the following month of the following month 2. If the tax adjusted through 2. If the tax adjusted through Book-adjustment Book-adjustment – – same daysame day
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Consequences in case of failure to remit / Consequences in case of failure to remit / deduct the TDSdeduct the TDS
InterestInterest at the rate of at the rate of 1.5% p.m1.5% p.m, or part of the month, , or part of the month, from the date of deduction to the date of actual from the date of deduction to the date of actual payment, u/s 201(1A) of IT Act,1961.payment, u/s 201(1A) of IT Act,1961.
if if fail to deduct fail to deduct TDS, TDS, interestinterest at the rate of at the rate of 1% p.m1% p.m or or part of the month, from the date on which tax part of the month, from the date on which tax deductable to the date of actual payment u/s 201(1) deductable to the date of actual payment u/s 201(1) of the IT Act,1961.of the IT Act,1961.
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Failure to pay tax deducted at source prosecution u/s 276B fo IT Act, 1961
Punishable with fine and rigorous Punishable with fine and rigorous imprisonment – minimum 03 months, imprisonment – minimum 03 months, maximum 07 years.maximum 07 years.
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Payments made through ChallanPayments made through Challan
Points to remember (Very Important)Points to remember (Very Important)::
Use correct Challan (Challan No. 281)Use correct Challan (Challan No. 281)
Mention Correct Code of Payment viz., 92A-Salary, Mention Correct Code of Payment viz., 92A-Salary,
94C – Contract payment etc., 94C – Contract payment etc.,
Enter the correct Assessment YearEnter the correct Assessment Year
Enter the Correct TANEnter the Correct TAN8
Contd.,Contd., Mention the Major head as 21, since the deductors Mention the Major head as 21, since the deductors
are Govt.,are Govt.,
What is Assessment Year?What is Assessment Year? A financial year starts from the month of 1A financial year starts from the month of 1stst April April
of the year to 31of the year to 31stst March. Example: FY 2014-15, March. Example: FY 2014-15, starts with 01.04.2014 to 31.03.2015. for this starts with 01.04.2014 to 31.03.2015. for this Financial year , the assessment year will be 2015-Financial year , the assessment year will be 2015-16, and so on.16, and so on.
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How to check the accuracy of the How to check the accuracy of the TAN?TAN?
First check the First check the allotment letter of TAN, allotment letter of TAN, if it is not available, you can check at if it is not available, you can check at www.incometaxindia.gov.inwww.incometaxindia.gov.in
Failure to quote Failure to quote the the TANTAN or entering or entering the wrong TAN the wrong TAN is is liable for penalty of Rs.10,000/- u/s 272BB of IT Act, 1961.liable for penalty of Rs.10,000/- u/s 272BB of IT Act, 1961.
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Place the curser on TAN, click on “Know your TAN”, it Place the curser on TAN, click on “Know your TAN”, it will take you to a new window…will take you to a new window…
Place the Place the curser curser herehere Click to Click to
verifyverify
You can You can download download challan challan
Enter the mandatory details (you can check by entering Enter the mandatory details (you can check by entering namename or or TANTAN))
You can You can search by search by name or name or entering the entering the TANTAN
Payments made through Book-adjustmentPayments made through Book-adjustment
Points to be remembered:Points to be remembered: Quote Quote correct TAN correct TAN and and Quantum of payment Quantum of payment and and tax tax
deducted thereof deducted thereof and submit the particulars and submit the particulars in time in time at at District Treasury Office/PAO.District Treasury Office/PAO.
On receiving of particulars, the DTO/PAO files the On receiving of particulars, the DTO/PAO files the monthly return in the Form no.24G which generates monthly return in the Form no.24G which generates BIN.BIN.
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BIN (Book Identification Number)BIN (Book Identification Number)
Based upon the details submitted by the DDOs, the Based upon the details submitted by the DDOs, the respective DTO/PAO will file Form No.24G (which is respective DTO/PAO will file Form No.24G (which is a monthly e-TDS return).a monthly e-TDS return).
On successful filing of Form No.24G, a unique On successful filing of Form No.24G, a unique number will be generated for each DDO, which is number will be generated for each DDO, which is called BIN.called BIN.
This BIN need to be quote in the quarterly returns.This BIN need to be quote in the quarterly returns.
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Where to get this BINWhere to get this BIN
You can get from the respective DTO’s Office/PAO’s You can get from the respective DTO’s Office/PAO’s OfficeOffice
OrOr You can check in the income tax web siteYou can check in the income tax web site
Navigation:Navigation: Go to Go to www.tdscpc.gov.inwww.tdscpc.gov.in
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Select “Select “deductordeductor””Click “Click “check check here here to view BIN detailsto view BIN details””
Click Click herehere
Select Select the the deductodeductorr
It will take to the new windowIt will take to the new windowEnter the necessary particularsEnter the necessary particulars
Let us see how to file the e-tds Let us see how to file the e-tds returnsreturns
Now you all have the required details viz, Now you all have the required details viz, Challan details (or) BIN detailsChallan details (or) BIN details
PAN of the deducteesPAN of the deductees
TAN particulars etc.,TAN particulars etc.,
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Due dates for furnishing the e-tds returnsDue dates for furnishing the e-tds returns
Periodicity Govt., deductor ( who remits the tax through Book-entry)
Other than Govt., deductor / deductors who pay tax by way of challan 281.
Q! (Quarter 1)Q! (Quarter 1)11stst Apr – 30 Apr – 30thth Jun Jun
3131stst JULY JULY 1515thth JULY JULY
Q2 (Quarter 2) 1Q2 (Quarter 2) 1stst Jul Jul – 30– 30thth Sep Sep
3030thth OCTOBER OCTOBER 1515thth OCTOBER OCTOBER
Q3 (Quarter 3) Q3 (Quarter 3) 11stst Oct – 31 Oct – 31stst Dec Dec
3131stst JANUARY JANUARY 1515thth JANUARY JANUARY
Q4 (Quarter 4) Q4 (Quarter 4) 11stst Jan – 31 Jan – 31stst Mar Mar
1515thth MAY MAY 1515thth MAY MAY
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Levy of Fee u/s 234E for the delay in Levy of Fee u/s 234E for the delay in filing of e-tds returns.filing of e-tds returns.
Note: u/s 234E of IT Act, 1961, the mandatory Note: u/s 234E of IT Act, 1961, the mandatory fee @ Rs. 200/- per day from the due date to fee @ Rs. 200/- per day from the due date to submit the e-returns till the day of filing submit the e-returns till the day of filing (restricted maximum of tax remitted in the (restricted maximum of tax remitted in the particular quarter), this provision applicable to particular quarter), this provision applicable to all type of deductors including Govt., all type of deductors including Govt., deductors.deductors.
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Prerequisite for preparation of e-tds Prerequisite for preparation of e-tds returnsreturns
e-TDS RPU (Return Preparatory Utility) e-TDS RPU (Return Preparatory Utility) softwaresoftware
FVU software (File Validation Utility)FVU software (File Validation Utility)CIN/BIN particularsCIN/BIN particularsPAN of the deducteesPAN of the deductees
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Where to get these software ?Where to get these software ?
Go to the website of NSDL, www.tin-nsdl.comGo to the website of NSDL, www.tin-nsdl.com
Click on e-tds/e-tcs filingClick on e-tds/e-tcs filing
Click on e-tds/e-tcs RPUClick on e-tds/e-tcs RPU
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Click Click herehere
Click on “Click on “download RPU version 4.0 (applicable from download RPU version 4.0 (applicable from June 28, 2014)June 28, 2014)”, for the earlier years version is 3.9”, for the earlier years version is 3.9
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Click Click herehere
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Click to download Click to download NSDL RPUNSDL RPU
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Click to Click to SAVESAVE
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Click to install Click to install RPURPU
After installing the software, the screen will appear as After installing the software, the screen will appear as follows,follows,
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Click to run Click to run RPURPU
Click on the button “Click on the button “RPU, RPU 4.0, NSDLRPU, RPU 4.0, NSDL”, the screen ”, the screen will appear as shown below.will appear as shown below.
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Select,Select,24Q – Salary,24Q – Salary,26Q – Non Salary,26Q – Non Salary,27EQ – TCS.27EQ – TCS.
Contd.,Contd.,
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SSelect Select “Regular” for “Regular” for new/fresh returnnew/fresh return
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Select Select QuarterQuarter
Enter FYEnter FY
Enter all Enter all Particulars Particulars with out failwith out fail
Click, if the particulars are same as above
Select Select YESYES, if , if you filed you filed regular return, regular return, earlier.earlier.
Mention the 15 Mention the 15 digit number of digit number of the earlier the earlier regular returnregular return
Click, to enter the challan/BIN details
Click here, to
Click here, to enter the no.of
enter the no.of challan/Transfer
challan/Transfer voucher details
voucher details
Enter the no. of rows/challans to be entered
Click OK, after entering the no. of rows
Late fee u/s Late fee u/s 234E has to be 234E has to be entered under entered under the “FEE” the “FEE” columncolumn
Select section Select section code, as per code, as per the nature of the nature of paymentpayment
Click “YES”, if the TAX is paid through Treasury
Enter the BIN Enter the BIN particularsparticulars
Select “200”, for normal Select “200”, for normal TDS payments or “400”, for TDS payments or “400”, for demand raised by the IT demand raised by the IT Dept.,Dept.,
Enter 07 digit BIN no., received from the Treasury
Don’t leave any ‘AMOUNT’ column blank, enter “0” if not applicable.
Click here to Click here to enter the enter the deductee deductee detailsdetails
Click here to Click here to enter the no.of enter the no.of rows requiredrows required
Enter the Enter the serial no. of serial no. of the deducteethe deductee
Select the Select the challan no. to challan no. to which the which the deductee is to deductee is to be mappedbe mapped
Follow the “HELP” Follow the “HELP” guidelines to map the guidelines to map the challans , carefully.challans , carefully.
After saving After saving the file, click the file, click on “create on “create file”, to create file”, to create and validate and validate the TDS/TCS the TDS/TCS statementstatement
For opening the For opening the previous saved previous saved file, press OPENfile, press OPEN
After preparing After preparing the return, SAVE the return, SAVE for future for future referencesreferences
Now the final step – “validating the statement”Now the final step – “validating the statement”
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Import .csi downloaded from the Import .csi downloaded from the ‘challan status enquiry’ from TIN ‘challan status enquiry’ from TIN website.website.
After selecting the path After selecting the path where .fvu & Form no.27A where .fvu & Form no.27A is to be saved, click on is to be saved, click on validate button.validate button.
Select the path Select the path where .fvu file and where .fvu file and Form no.27A is to Form no.27A is to be generatedbe generated
How to download .csi file from the TIN websiteHow to download .csi file from the TIN website
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After entering the After entering the NSDL website, NSDL website, click “challan click “challan status enquiry”, status enquiry”, this window wil this window wil appearappear Select the “TAN Select the “TAN
Based view”, it will Based view”, it will lead you to a new lead you to a new window.window.
Enter the period to Enter the period to fetch all the challans fetch all the challans paid during that paid during that period.period.
Enter the TAN Enter the TAN
On successful passing the validations, .fvu file On successful passing the validations, .fvu file
and Form no. 27A will be generated on the system and Form no. 27A will be generated on the system
with suffix of “.fvu”, copy these files on a CD / Pen with suffix of “.fvu”, copy these files on a CD / Pen
drive and submit these to any near by TIN-FC (TIN drive and submit these to any near by TIN-FC (TIN
facilitation centers) after paying a nominal fee, as facilitation centers) after paying a nominal fee, as
prescribed.prescribed.
Let us see how to view “Let us see how to view “Individual Individual Tax CreditTax Credit” in ” in Form No.26ASForm No.26AS and and
how to e-file the “how to e-file the “Individual Individual Income-tax returnIncome-tax return””
If you are If you are registered user registered user then click “log in “then click “log in “
After entering the After entering the website of website of “www.incometaxin“www.incometaxindiaefiling.gov.in diaefiling.gov.in
If you are not If you are not registered earlier, registered earlier, click hereclick here
If you are registered user, If you are registered user, enter PAN, Password & enter PAN, Password & DOBDOB
After filling up the necessary details viz., PAN , Status, After filling up the necessary details viz., PAN , Status, Mobile No. and e-mail ID, your “ID & Password “ will be Mobile No. and e-mail ID, your “ID & Password “ will be created . By which you can view ‘Tax credit’ & file created . By which you can view ‘Tax credit’ & file ‘individual return of income’ online.‘individual return of income’ online.
You can calculate You can calculate your tax here.your tax here.
After log-in , to submit After log-in , to submit Return of Income, click Return of Income, click herehere
Click here, to view Click here, to view your ‘tax credit’your ‘tax credit’
After selecting view form After selecting view form 26AS, this window will 26AS, this window will appearappear
Click here, to view Click here, to view your ‘tax credit’your ‘tax credit’
Click here, to view Click here, to view your ‘tax credit’your ‘tax credit’
Select PDF, HTML, Select PDF, HTML, whatever the view you whatever the view you requiredrequired
Enter the Enter the Assessment yearAssessment year
The TDS deducted The TDS deducted from the salary from the salary can view herecan view here
One can view TAX One can view TAX paid other than paid other than TDS modeTDS mode
How to download Form No. 16 & How to download Form No. 16 & Form No.16A (Form No.16A (for the Tax for the Tax
deductors onlydeductors only))
Go to Go to www.tdscpc.gov.inwww.tdscpc.gov.in
Some useful websites/linksSome useful websites/links www.incometaxindia.gov.in- www.incometaxindia.gov.in- To view TAN&PAN,to To view TAN&PAN,to
download Challan and other circulars etc.,download Challan and other circulars etc.,
www.incometaxindiaefiling.gov.inwww.incometaxindiaefiling.gov.in-to submit -to submit individual return of income, to view tax credit, to individual return of income, to view tax credit, to view demand raised and sent by the IT Dept., etc.view demand raised and sent by the IT Dept., etc.
www.tin-nsdl.com-www.tin-nsdl.com-to download e-tds RPU, FVU and to download e-tds RPU, FVU and challan status report and other related information.challan status report and other related information.
www.tdscpc.gov.in-www.tdscpc.gov.in-to download Form No.16/16A and to download Form No.16/16A and justification reports etc.,justification reports etc., 57
List of TIN-FCs in Dindigul DistrictList of TIN-FCs in Dindigul District
1. 1. Religare Securities Limited Religare Securities Limited – – No.9/111C, LGB No.9/111C, LGB Compund, Mengles Road, Dindigul -1.Compund, Mengles Road, Dindigul -1.
2. 2. Integrated Registry Services Limited Integrated Registry Services Limited – – No.24/51, No.24/51, New Agraharam, Palani Road, Dindigul – 1.New Agraharam, Palani Road, Dindigul – 1.
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THANK YOU
Please send your feedback/suggestions to PA (Accounts) to Collector, Dindigul through E-
Mail.
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