TDSMAN Blog

smart & easy software for eTDS & eTCS returns

TDSMAN Blog - smart & easy software for eTDS & eTCS returns

Due Dates for the month of February 2016

7 February 2016 – ​Due date for deposit of Tax deducted/collected for the month of January, 2016.  ​However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

7 February 2016 – ​​​Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IA in the month of January, 2016

15 February 2016 – ​Quarterly TDS certificate (in respect of tax deducted for payments other than salary) by a person being an office of the Government for the quarter ending December 31, 2015

22 February 2016 – ​​​​Due date for issue of TDS Certificate for tax deducted under  section 194-IA​ in the month of January, 2016

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Defaults in Quarterly TDS Statements exceeding Rs. 1 Crore from FY 2007-08 to Q2, FY 2015-16

CPC (TDS) has released a follow up communication to all deductors regarding Defaults in Quarterly TDS Statements exceeding Rs. 1 Crore from FY 2007-08 to Q2, FY 2015-16.

The released communication has been given below:

Date of communication: 23/01/2016

Dear Deductor (TAN XXXXXXXXX)

Centralized Processing Centre (TDS) has observed from its records that as on 21st January, 2016, there are outstanding Defaults in quarterly TDS Statements submitted by you during Financial Year 2007-08 to Q2, FY 2015-16.

The details of outstanding Defaults for the respective Financial Years are as follows:

Outstanding Defaults

Action to be taken:

  • Please download the latest Justification Reports from our web portal TRACES to view details of outstanding demand
  • If required, please use Challan ITNS 281 to pay the demand with your relevant Banker.
  • Please submit a Correction statement without any further loss of time for closure of the outstanding demand.
  • Online Corrections facility on TRACES can be used to submit corrections to payoff/ close the demand. To avail the facility, please Login to TRACES and navigate to Defaults tab to locate Request for Correction from the drop-down list. You can refer to our e-tutorials for necessary help.
  • In case of Short Payment Defaults due to Unmatched Challans, please use Tag Unmatched Challan facility using Online Corrections.
  • In case of Short Payment Defaults due to Insufficient Challans, please use Move Deductee facility using Online Corrections. With use of this feature, a portion of the Deductee Rows can now be moved to any other Unconsumed OLTAS challan with adequate balance.

For any assistance, you can raise a ticket for resolution Online at TRACES or call on 1800 103 0344. CPC (TDS) is committed to provide best possible services to you.

CPC (TDS) TEAM

Source: TRACES

Similar Follow Up Communication from TRACES:

CPC Defaults in Quarterly TDS Statements exceeding Rs. 5 Crore from FY 2007-08 to Q2, FY 2015-16

CPC Defaults in Quarterly TDS Statements exceeding Rs. 10 Crore from FY 2007-08 to Q2, FY 2015-16

CPC Defaults in Quarterly TDS Statements exceeding Rs. 50 Lac from FY 2007-08 to Q2, FY 2015-16

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Reasons to reject the correction in challan detail by TDS-CPC

Rejection reasons pertaining to challan details are as follows:

  • Challan detail record on which correction has been filed does not exist in regular / previous statement
  • In a correction statement, verification keys from challan data should match with the corresponding fields in regular statement
    • Verification keys for Non Nil Statement – Last transfer voucher number, Last Bank-Branch Code / Form 24G Receipt Number, Last date of transfer voucher / bank Challan, Last deposit amount as per challan
    • Verification keys for Nil challan – Last date of transfer voucher number / bank challan, last total deposit amount as per challan
  • If an unmatched challan is being corrected, then the sum of deposit amount of all the active deductee rows in the regular and correction statement and corrected values of claimed TDS interest and claimed TDS Others amount should be less than or equal to Total deposit amount of challan given in statement
  • If a matched challan is being corrected, then available balance amount in the challan should be sufficient for consumption of updated sum of deposit amount of all the active deductee rows in correction and corrected values of claimed TDS interest and claimed TDS Others amount
  • In case of existing matched / partially matched challan, deductor can only update Cheque / DD Number, claimed TDS Interest amount, claimed TDS Others amount and Section code
  • If deductor updates only deductee details, then claimed TDS Interest amount and claimed TDS Others amount as given in the challan should match with the corresponding values present in regular / previous return
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Statutory provisions attracted on failure to deposit tax in government account after deduction

Where the employee has deducted the tax at source but failed to deposit wholly or partly, the tax so deducted in government account, the following statutory provisions are attracted:-

  • Interest u/s 201(1A)- The deductor is treated as an assessee in default and interest u/s 201(1A) is leviable @1.5% for every month or part of the month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid. Further, the tax along with the simple interest u/s 201(1A) becomes a charge upon all the assets of the deductor.
  • Penalty u/s 221- Penalty to the extent of tax not deposited is leviable by the A.O. as discussed earlier.
  • Prosecution proceedings u/s 276 B- Where the deductor has failed to deposit tax deducted at source, in govt. a/c without a reasonable cause then he is punishable with rigorous imprisonment for a term which shall not be less than 3 months but which may extend to 7 years and with fine.
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