Govt. Deductors: Change in due dates of filing eTDS returns

Income Tax Department has changed the date of TDS filing for Govt. Deductors vide notification 57/2011 dated 24.10.2011. The due date of filing eTDS returns has been extended by 15 days for first three quarters of the Financial year but remains the same for last quarter ending 31st March. The amendment is applicable from 01.11.2011 & so it is applicable from the 3rd quarter of F.Y. 2011-12.

Please Note:The changed due dates are applicable only for Government Deductors. For other Deductors there is no change in the due dates.


DUE DATES  eTDS Returns

Sl. No.

Date of ending of the quarter

Due dates for Govt. Deductors

Due dates for Other Deductors

1

2

3

4

30th June

30th September

31st December

31st March

31st July

31st October

31st January

15th May

15th July

15th October

15th January

15th May

 

Note:

This notification relates to eTDS returns covered under rule 31A means for quarterly returns for Forms – 24Q (Salary), 26Q (section 193 to 196D except entries covered in 27Q) and 27Q. As the rule 31AA has not been amended so TCS (Form 27EQ) return due dates remains unchanged unless notified later.

The amendment is applicable only for Govt. Deductors

 

 

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Correction in OLTAS challan

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NSDL receives tax collection data as uploaded by the bank.  NSDL is not authorized to carry out any changes in the data  sent by the bank to TIN.

 

The fields that can be corrected by the Taxpayer through Bank are tabulated below:

Sl. No.

Type of Correction on Challan Period for correction request (in days)

1

PAN / TAN Within 7 days from challan deposit date

2

Assessment Year Within 7 days from challan deposit date

3

Total Amount Within 7 days from challan deposit date

4

Major Head Within 3 months from challan deposit date

5

Minor Head Within 3 months from challan deposit date

6

Nature of Payment Within 3 months from challan deposit date

Note :

1.Above correction mechanism is applicable only for physical challans with deposit date greater than equal to September 1, 2011.
2. Any correction request initiated by the taxpayer after the time limit specified above shall be rejected by Bank.
3. For challans with challan deposit date from September 1, 2011 to September 30, 2011, the time limit for correction in TAN/PAN, Assessment Year and Amount will be within 45 days from challan deposit date.
4. The fields that can be corrected and the entity authorized to carry out corrections on challan with deposit date less than September 1, 2011 are as below:

Sl. No.

Type of Correction on Challan Performed By

1

PAN / TAN Assessing Officer

2

Assessment Year Assessing Officer

3

Major Head Assessing Officer / Bank

4

Minor Head Assessing Officer

5

Nature of Payment Assessing Officer

6

Total Amount Bank

7

Name Bank

 

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Inconsistencies in the TDS / TCS statements

      No Comments on Inconsistencies in the TDS / TCS statements

When you file your TDS / TCS return, first the details  regarding deposit of TDS/TCS made by you is compared with the data given by banks. The data is uploaded by banks on the  basis of the TDS/TCS challans received by them. For this purpose, the Challan Identification Number (CIN), TAN and  TDS amount as given in your TDS/TCS return is compared with the corresponding details given in the challan details provided by the bank that has accepted the tax. (CIN consists of the BSR code of the branch where you deposited the tax, date on which you deposited tax and the challan serial number which have beenstamped on the counter foil of the challan given to you). Depending on this, different types of inconsistencies creep up in the returns.

Once these are matched, the PAN ledger of each deductee is credited with the TDS/TCS as provided in your return provided the PANs of the deductees have been given by you in the return.

The types of inconsistencies are as below: 

Matched

If all the CIN details in the TDS / TCS return match with the corresponding details provided by the banks, the challan is shown as matched as the payment claimed to have been made by you is also validated by the bank

Match Failed

In this case CIN given in your TDS / TCS return is found in the bank data. But the TAN and / or amount as given in your return against this CIN do not match with the TAN and / or amount given against this challan by the bank.

Match Pending

In this case, the CIN as given in your statement is not available in the CIN details provided by the banks.

Count of Missing deductee PAN

If you have not provided the PAN details of some of your deductees, the count of such cases is provided.

Count if deductee PAN not present in ITD database

If some of the deductee PAN provided by you are not present in Income Tax Department (ITD) database, the count of such cases is provided.

Impacts of the inconsistencies are as below:

  • In case of inconsistency, there would be no posting in the PAN ledger of the deductee with the amount of tax deducted/tax collected on his behalf. He may, therefore, have difficulty in proving the TDS /TCS claimed by him in his income tax return.
  • If challans claimed in the TDS/TCS returns could not be matched completely with the data given by the banks, you may have difficulty in proving to your TDS assessing officer that you have actually deposited the TDS/TCS deducted by you.
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TDS Circular No. 08/2011 dated 14.10.2011 on deposits in Banks

 Circular No. 08/2011 dated 14.10.2011 on Tax Deduction at  Source on the deposits in Banks has been issued by CBDT  in the  name of The Registrar / Prothonotary and Senior Master  attached to the Supreme Court / High Court etc. during the  pendency of litigation of cliam/compensation-reg.

 CIRCULAR NO. 08/2011

F.No. 275/30/2011- IT (B)
Government ofIndia
Ministry of Finance
Department of Revenue
[Central Board of Direct Taxes]
New Delhi,the  14th  October, 2011

Subject: Tax deduction at source on the deposits in banks in the name of the Registrar/ Prothonotary and Senior Master attached to the Supreme Court/ High Court etc during the pendency of litigation of claim/compensation-reg.

Section 194A of Income Tax Act, 1961 (the Act”) stipulates deduction of tax at source (TDS)  on interest other than interest on securities if the aggregate of amount of such interest credited or paid to the account of the payee during the financial year exceeds the specified amount.

2. The Board has received references expressing difficulties in implementation of provisions of  Section 194A of the Act in a situation where in the course of the proceedings before Supreme Court/ High Court/ any other court or tribunal (hereinafter the court”), one or more than one litigant (hereinafter the depositor) is directed by the court that a specified amount (hereinafter deposit”) be deposited in the bank either directly or through the court in order to protect the interest of litigants.  Such deposits (usually time deposits) are kept in the bank in the names of Registrar/ Prothonotary and Senior Master or any other name as per the order of the court.  Difficulties are faced in making TDS on the interest periodically accruing on such deposits/ time deposits and about the person(s) as deductee who is entitled to TDS certificate in Form 16A.

3.1 The matter has been examined in the Board and it has been decided that, subject to para 4 below, this circular shall be applicable to cases where one or more than one litigant is directed by the court that a specified amount be deposited in the bank directly or through the court. The bank shall in accordance with the provisions of the Act, deduct tax at source on the interest accruing on the above mentioned deposit(s) as per existing procedure and at the rates in force. The certificate of deduction of tax shall be issued by the bank in the name of the depositor  If more than one person has been directed to deposit any specified amount, the amount of TDS shall be corresponding to each such depositor for the portion of interest accrued in its respective share in the total amount deposited and TDS certificates shall be accordingly issued by the bank.

3.2 At the time of making deposit of the amount ordered by the court, the depositor(s) shall submit a prescribed declaration with the court for record purpose and to facilitate the administration of TDS. The Registrar/ Prothonotary and Senior Master or any person authorized by the court will pass the information furnished therein to the bank concerned for TDS properly in the name of the depositor(s) in accordance with the provisions of the Act.

3.3 Some of the instances covered by this circular are:

a. In the course of appellate proceedings, the court directs an insurance company (the depositor) to deposit a part of compensation awarded by Motor Accident Claims Tribunal. This amount is deposited as Time Deposit in a bank in such name as per the directions of the court, the credit of TDS on interest accruing on such deposit will be allowed to the Insurance company which has made the said deposit. P-2 -2-

b. The Court while deciding the cases of land compensation directs the authority concerned (liable for making payment of compensation) to deposit any sum in time deposit in any bank, the TDS on time deposit shall be in the name of the authority making deposit, if such authority is an entity liable for charge to Income Tax on its income. In case the deposit in the bank is by Central or State Government no tax will be deducted.

c. The court adjudicating upon financial dispute during pendency of proceedings direct any party(ies) to deposit any amount as security in time deposit, the TDS on interest accruing on such deposit will be in name of the depositor irrespective of the fact that at the directions of the court such time deposit has been drawn in the name of the officer of the court or joint name or any other name.

4. The above procedure shall not apply to:

(a) any deposit in the bank held or dealt by the court or any other person appointed by the court in the capacity of being an administrator or receiver or any authority of similar nature; or

(b) any deposit which has not been made by any specific depositor but has arisen due to attachment made by the Court; or

(c) the cases of representative assessee” within the meaning of section 160 of the Act.

Tajbir Singh

 Under Secretary to the Govt. of India

 

Copy to:-

(i) The Chairman, CBDT and All members, CBDT
(ii) All CCsIT (CCA) for circulation among all officers
(iii) TheDGIT(Admn)/The DIT(TDS)
(iv) All CsIT(TDS) for information
(v) All Divisions of the CBDT

 

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