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NSDL Email – Last date of TCS Returns

This post is NULLIFIED – based on the rejoinder email of NSDL (tin_returns@nsdl.co.in) dated 19th July, 2016 which can be accessed as under:

http://blog.tdsman.com/2016/07/rejoinder-email-dated-19th-july-2016-change-tcs-return-filing-dates/

After the release of the new File Validation Utility (FVU Ver 5.1 & FVU Ver. 2.147) on  28th June 2016, NSDL (tin_returns@nsdl.co.in), through an email has informed Tax Deductors / Collectors about this release.

Apart from explaining the key features of the new release, it has mentioned that the due date for filing Quarterly TDS/TCS statement for Q1 (April to June) of FY 2016-17 is July 31, 2016 for all categories of Deductors / Collectors.

It clears the doubt on the due date for TCS Returns which has been also revised similar to TDS Returns (there had been confusion over the CBDT Notification dated 29th April 2016).

Based on this email from NSDL, the due dates for TDS / TCS Return filing from FY: 2016-17 onwards is summarized as under:

Q1 (Apr – Jun)   :               31st July
Q2 (Jul – Sep)    :               31st October
Q3 (Oct – Dec)   :               31st January
Q4 (Jan – Mar)  :               31st May

Note: The above is based on NSDL’s email and no official notification / clarification has been issued by CBDT.

The text of NSDL’s email is as under:

 

From: tin_returns@nsdl.co.in [mailto:tin_returns@nsdl.co.in]
Sent: 28 June, 2016 4:00 PM
To: info@pdsinfotech.com
Subject: Intimation about the release of new TDS/TCS RPU and FVU versions at NSDL e-Gov.

 

Dear Deductor/Collector,

This is to inform you that due date for filing Quarterly TDS/TCS statement for Q1(April to June) of FY 2016-17 is July 31, 2016 for all the categories of Deductors/Collectors. Do submit quarterly TDS/TCS statement on or before due date to avoid late filing fee under section 234E of Income Tax Act.

In order to locate the nearest TIN Facilitation Centers (TIN-FC) for furnishing of quarterly TDS/TCS statement(s), please click here https://www.tin-nsdl.com/tin-facilities.php

New versions of e-TDS/TCS Return Preparation Utility (RPU) and File Validation Utilities (FVUs) have been made available at TIN website applicable from June28, 2016 at the following URL https://www.tin-nsdl.com/etds-etcs/eTDS-download-regular.php. These RPU and FVUs are freely downloadable utilities and can be used for preparation of e-TDS/TCS statement(s) pertains to Financial Year 2007-08 onwards.

  • RPU Version 1.6 (Java based): This is used for preparing and validating e-TDS/TCS Statement(s) and also contains inbuilt FVUs.
  • FVU Version 5.1 : Applicable for quarterly e-TDS/TCS Statement(s) pertaining to FY 2010-11 onwards.
  • FVU Version 2.147 : Applicable for quarterly e-TDS/TCS Statement(s) from FY 2007-08 upto FY 2009-10.

Key features of new version of RPU and FVUs are as given below:-

  1. Addition of new section codes applicable for Financial Year 2016-17 onwards for statements pertaining to Form 26Q, 27Q and 27EQ (Regular and Correction):

                  a. Section Code 194LBC (Income in respect of investment in securitization trust):

                         (i) This section code is applicable for Form 26Q and 27Q.
                         (ii) The value to be quoted in TDS/TCS statement is ‘LBC’.

                 b. Section Code 206CL (Tax Collection at Source (TCS) on sale of Motor vehicle):

                          (i) This section code is applicable for Form 27EQ.
                          (ii) The value to be quoted in TDS/TCS statement is ‘L’

                c. Section Code 206CM (TCS on sale in cash of any goods other than                     bullion/Jewellery):

                          (i) This section code is applicable for Form 27EQ.
                          (ii) The value to be quoted in TDS/TCS statement is ‘M’

              d. Section Code 206CN (TCS on providing of any services other than                    Chapter-XVII-B):

                          (i) This section code is applicable for Form 27EQ.
                          (ii) The value to be quoted in TDS/TCS statement is ‘N’.

For and on behalf of Tax Information Network

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  • Vinod kumar says:

    No Change in TCS Return Filing Dates, Changes is only in TDS Returns.

    The recent amendment of relaxing the due date for filing of TDS returns. However, the same has not been done for TCS returns.
    The provisions for filing of TCS returns are laid down under rules 31AA of Income tax Act 1961 and for TDS under rule 31A of Income Tax act 1961. The recent amendment vide Notification no 30/2016 dt 29th April 2016 has made changes to Rule 31A of the Act, however, similar changes has not been made in the provisions of Rule 31AA of the Act.

    There has been confusion in recent days post amendment in TDS return dates that the TCS return dates has been changed too. In view of the above all the stakeholders are advised to adhere to the due dates for TCS return i.e. 15th July 2016 for quarter ended 31st June 2016 to avoid any late filing fees.

    Below shared link is Income tax calendar for FY 2016-17

    http://www.incometaxindia.gov.in/pages/deadline.aspx

    July 15, 2016 at 3:49 pm
  • SUBHASH GAWADE says:

    how to select Q2 in RPU version for F/Y 2016/17

    September 22, 2016 at 2:06 pm

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