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Smart & Easy TDS Software for Preparing TDS Returns

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

TDS/TCS Compliances May 2014

1. Last date for payment of tax deductions/collections for April – 7th May 2014
2. Last date of filing of TDS/TCS returns for Q4 of F.Y. 2013-14  – 15th May, 2014
3. Last date for issuance of the TDS/TCS certificates for Q4 – 30th May, 2014
* The above is applicable for deductors other than the Office of the Government.

 

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CPC(TDS) Advisory Communication regarding “Aggregated TDS Compliance” at Organization’s PAN Level

CPC (TDS) has issued a letter to all deductors with information regarding the release of new feature “Aggregated TDS Compliance” at Organization’s PAN level.

The letter produced is here as under:

Date of communication: 03/05/2014

Dear Deductor,

In our endeavor to facilitate improved TDS administration, CPC (TDS) feels glad to provide you with the feature of “Aggregated TDS Compliance” at PAN level for all TANs associated with the referenced PAN. Following are additional details related to the new feature.

What is meant by Organization’s PAN:

The above indicates the PAN of an entity, having more than one TANs of its branches, associated with the referenced PAN. This will be the PAN of the Central Office, Headquarter etc., as may be appropriate. The said PAN must review the “Aggregated TDS Compliance” report on a regular basis to improve TDS compliance at Organization level.

What does the new feature offer:

  • The above stated PAN can view TDS performance for all of its respective TANs by logging into TRACES as a Taxpayer.
  • The Defaults generated for all the TANs can be viewed by using the feature. The following type of Defaults for the branches can be viewed:

      1. Total Default
      2. Short Payment Default
      3. Short Deduction Default
      4. Interest on Payment Default u/s 201
      5. Interest on Deduction Default u/s 201
      6. Late Filing Fee u/s 234E
      7. Interest u/s 220(2)
      8. PAN Errors

The respective TANs with Defaults in their TDS Statements can be pursued to get the above resolved by taking following actions:

    1. Carrying out necessary corrections in the records reported in the TDS statements,
    2. Paying the outstanding demand and
    3. Submitting the Correction Statements at the earliest.

  •  The respective TANs with Defaults in their TDS Statements can be pursued to get the above resolved by taking following actions:

  •  The feature thus provides for a summary of Defaults, which assists in effective TDS administration, monitoring, control and compliance at Organization level.
  •  The feature will be extremely useful for the purpose of complying with the provisions of Section 40(a)(ia) of the Income Tax Act, 1961 by the concerned entity,  to ensure that correct information is disclosed in paragraph 27A/B of the Tax Audit Report (Form 3CD) u/s 44AB of the Act.

How to use the feature:

  •  You are requested to Log in to TRACES as a Taxpayer, using your credentials.
  •  Navigate to Aggregated TDS Compliance menu on the webpage.
  •  Choose the views according to Financial Year (Download Option 1) or Default Type (Download Option 2) from the drop down lists.
  •  PDF or html views are available for the entity having less than 25 TANs. For larger number of TANs, a download request needs to be submitted.
  •  Submit the Request to generate a Request Number.
  •  The submitted request will be made “Available” in MS Excel format, under “Requested Downloads” in the “Download” menu. The reports will usually be made available within four hours of submission.
  •  The report will be “Not Available” if there are No Defaults or there are statements yet to be processed. If you believe that either of the two is not true, the same can be reported to CPC (TDS).
  • The feature provides for the above information for Financial Year 2007-08 onwards.

The steps to use the functionality are easy and convenient, however, e-Tutorials for the above release will shortly be made available on the portal. You can reach out to us on contactus@tdscpc.gov.in or call our toll-free number 1800 103 0344 for any assistance.

CPC (TDS) is committed to provide best possible services to you.

CPC (TDS) TEAM

Notes:

  • Please maintain updated email address and Contact Number on TRACES to receive regular periodic updates and guidelines from TRACES.
  • Please refer to our FAQs and e-tutorials for detailed screen-driven assistance, before seeking further help.
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How to check e-TDS Challan Status Query ?

TDSCPC.GOV.IN has provided a facility to check the Challan Status Query  vide which it can be checked that has there any challan not claimed by deductor in the particular Financial Year or not.  This function is helpful to resolve the default notice issued by Income Tax Department. 

In case any deductor receive demand notice from income tax department, first of all he may check this function for unclaimed challan. If unclaimed challan is available it means that either complete challans have not been entered in etds return or wrong data of challans have been entered in TDS return.

There are three types of inquiries available :
1. All.
2. Claimed.
3. Unclaimed.

Period can be entered in specified format i.e. 01-Apr-2013 etc. or dates can be entered only with in financial year.

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