TDSMAN Blog

Smart & Easy TDS Software for Preparing TDS Returns

TDSMAN Blog - Smart & Easy TDS Software for Preparing TDS Returns

Due date to file Income Tax Return extended from 31st July, 2013 to 5th August, 2013

As a Measure of Taxpayers Convenience, Last Date for Filing of Returns Extended to 5th August, 2013.

There is an unprecedented surge in number of returns being e-filed during this year. 92.03 lakh returns have been e-filed up to 30th July, 2013 which is 46.8 % higher than the returns e-filed during the corresponding period of the last fiscal year.

Due to large number of taxpayers accessing e-filing website on due date of filing, some cases of taxpayers not being able to access the e-filing portal have been reported. These problems are primarily due to network constrains of the local internet service providers (ISPs).

However, as a measure of taxpayers convenience, it has been decided to extend the due date of filing of returns from 31st July, 2013 to 5th August, 2013.

Taxpayers are requested to avail of this extension of time and file their returns after paying due taxes.

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Issuance of the TDS certificate (Form 16A)

TDS certificate is a certificate of tax deduction of source (TDS) by the deductor to the deductee specifying therein the prescribed particulars like amount of TDS, permanent account number (PAN), tax deduction and collection account number (TAN) etc.

The relevant form for such TDS certificate is Form 16 in case of deduction under section 192 (Salary)  and Form 16A for deduction under any other provisions of chapter XVII-B of the Act.

TDS certificate in Form 16 is to be issued annually whereas TDS certificate in Form 16A is to be issued quarterly.

Last date for issuance of the TDS certificate (Form 16A) for Quarter 1 of FY: 2013-14 is 30th July, 2013

Delay in issuing certificates will involve a fine of Rs. 100 per day subject to an upper limit of the tax deducted.  Click here for more details

As per Circular No. 01/2012 dated 09.04.2012, it mandatory for all deductors to issue TDS certificate in Form No. 16A after generating and downloading the same from TRACES website.

One can use TDSMAN software for easy downloading of TDS certificate from TRACES website. 

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Process of downloading Form 16A

The process of downloading Form 16A are as follows:

1. Login with your User Id and Password.
2. In the main menu, click Downloads > Form 16A.
3. You can either download file for all PANs or for selected PANs. For all PANs, you need to select FY and Quarter. For Selected PANs, you have to select PANs from the given list.
4. Validation Screen will appear. Enter validation details. This will also generate an authentication code.
5. Details of authorized signatory will be picked up from “profile” and displayed.
6. Click Submit.
7. File will be available in Download > Requested Downloads.

To view the e- tutorial on how to download Form 16A, click here

Rather than going through the above mentioned steps, Deductors can easily download TDS certificate from the TRACES website using TDSMAN software. The software is fully integrated with TRACES and helps downloading of TDS certificate from the software itself.

 

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Type of Form one can opt to file income-tax return for the assessment year 2013-14

 

Individual and HUF

Nature of income

ITR 1 (Sahaj)

ITR 2

ITR 3

ITR 4

ITR 4S (Sugam)

Income from salary/pension

 
Income from one house property (excluding losses)

 
Income or losses from more than one house property  

 
Income not chargeable to tax which exceeds Rs. 5,000  

 
Income from other sources (other than winnings from lottery and race horses or losses under this head)

 
Income from other sources (including winnings from lottery and race horses)  

 
Capital gains/loss on sale of investments/property  

 
Share of profit of partner from a partnership firm    

 
Income from proprietary business/profession      

 
Income from presumptive business        

Details of foreign assets  

 
Claiming relief of tax under section 90, 90A or 91  

 
Share of profit of partner from a partnership firm    

 
Income from proprietary business/profession      

 
Income from presumptive business        

Details of foreign assets  

 
Claiming relief of tax under section 90, 90A or 91  

 

 

Other Assessees      

Nature of income

ITR 5

ITR 6

ITR 7

Firm

   
Association of Persons (AOP)

   
Body of Individuals (BOI)

   
Companies other than companies claiming exemption under Sec. 11  

 
Persons including companies required to furnish return under:(1) Section 139(4A);

(2) Section 139(4B);

(3) Section 139(4C); and

(4) Section 139(4D)

   

Note:

All salaried class taxpayers can’t choose ITR-1 for filing tax returns from assessment year 2013-14 onwards. They can choose ITR-1 only if they are claiming exemption under sec. 10 (E.g. HRA, Conveyance allowance etc) upto Rs 5,000 or less. So, if taxpayer is claiming any exemption under sec. 10 which exceeds Rs. 5,000, they cannot file return of income in ITR-1 (As per amended Rule 12 of income-tax rules).

 

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