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TDS Statements filed for Q 1, FY 2014-15, not filed yet for Q 2, FY 2014-15

CPC (TDS) has issued a communication to all deductors who have filed TDS Statements  for Q1, FY 2014-15 but not filed yet for Q2 as of November 1, 2014.

The issued communication has been given below:

Dear Deductor,

As per the records of the Centralized Processing Cell (TDS), you have filed TDS Statements for Q1, FY 2014-15, however, no TDS Statements have been filed for Quarter 2 as of November 1, 2014.

If you are not required to submit the relevant statement, you are requested to submit a declaration by taking appropriate action as suggested under “Action to be taken” in this communication. Otherwise, your urgent attention is invited to relevant CBDT Circulars and provisions of the Income Tax Act, mandating filing of TDS Statements and Issuance of TDS Certificates downloaded from TRACES.

1. Mandatory filing of TDS Statements:

Please refer to the provisions of section 200(3) of the Income Tax Act, 1961 read with Rule 31A, which reads as follows:

Every person responsible for deduction of tax under Chapter XVII-B, shall, in accordance with the provisions of sub-section (3) of section 200, deliver, or cause to be delivered, the following quarterly statements to the Director General of Income-tax (Systems) or the person authorised by the Director General of Income-tax (Systems), namely:

  • Statement of deduction of tax under section 192 in Form No. 24Q;
  • Statement of deduction of tax under sections 193 to 196D in -
    • Form No. 27Q in respect of the deductee who is a non-resident not being a company or a foreign company or resident but not ordinarily resident; and
    • Form No. 26Q in respect of all other deductees.

It is, therefore, advised to file the applicable TDS Statements at the earliest to comply with the above provisions.

2. Implications of Non/ Late filing of TDS Statements:

  • For Deductors:

In case of late filing of TDS Statements, a fee shall be levied on the deductor u/s 234E of the Act, which reads as under:

Where a person fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues. 

  • For Tax payers:

Non/ Late filing of TDS statements results into the TDS Credit not being available to the deductees. They, therefore, will not be able to claim the credit for tax already deducted from the payments made to them. Please note that TDS Certificates will not be available until the TDS Statements are duly filed. 

3. Actions to be taken:

Please file the relevant TDS Statement without any further delay.

  • If you are not required to file the same, please submit a declaration for Non-filing on TRACES. For this purpose, you can login to TRACES, navigate to “Statements/ Payments” menu and submit details under “Declaration for Non-Filing of Statements”
  • Issue TDS certificates after generating and downloading the same from TRACES. TDS Certificates downloaded only from TRACES Portal will be valid.

For any assistance, you can write to ContactUs@tdscpc.gov.in or call our toll-free number 1800 103 0344.

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

CPC (TDS) TEAM

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Dos & Dont’s for filing TDS Returns

Given below are some dos and don’t for filing of TDS returns:

Dos

  • Ensure that TDS return is filed with same TAN against which TDS payment has been made.
  • Ensure that correct challan particulars including CIN and amount is mentioned.
  • Correct PAN of the deductee is mentioned.
  • Correct section is quoted against each deductee record.
  • Tax is deducted at correct rate for each deductee record.
  • File correction statement as soon as discrepancy is noticed.
  • Issue TDS certificate downloaded from TRACES website.

Dont’s

  • Don’t file late returns as it affects deductee tax credit.
  • Don’t quote incorrect TAN vis-à-vis TDS payments.
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FAQ about Conso File

1. What is a conso file?

It is the consolidated data of the statements processed (regular & correction) for the relevant Financial Year, Quarter and Form Type.

2. Why is a conso file required?

While filing correction for a particular Financial Year, Quarter and Form Type, conso file provides details about all the previous corrections made in the relevant statement. This file gets updated each time a correction is filed for the particular Financial Year, Quarter and Form Type. Hence, each time a correction statement is to be filed for the given combination, a fresh conso file is required.

3. From which year is conso file available on TRACES?

Conso file is available on TRACES from FY 2007-08.

4. What would be the file extension for the consolidated file?

The file extension would be in “.tds” format.

5. How can I download conso file?

Login to TRACES as deductor and submit download request for the conso file under ‘Request for Conso File’ in ‘Statements / Payments’ tab. File will be available under ‘Requested Downloads’ in ‘Downloads’ tab.

6. Is it mandatory to download a conso file while filing correction statement?

Yes. It is mandatory, as it enables accuracy during correction filing.

7. What is the password for opening Conso file?

The password for opening Conso file will be your TAN_Request Number in capital letters.

8. I want to submit request to download the conso file, will system allow me to pass through validation screen without any challan and deductee detail?

Yes, you can download the conso file even if you have zero challan detail and no deductee record for the statement.

9. I have filed a paper return, and want to download the consolidated file for the same on TRACES. How should I proceed?

Conso file will not be available in case of paper return. Refer e–Tutorials for more details.

10. While entering validation details for submitting request to download conso file, I have entered details correctly in Part 1 and Part 2 of the validation screen, yet it shows error as ‘Invalid Details’ in Part 1 or Part 2. What should I do?

Details to be filled in validation screen should be exactly the same as reported in the TDS statement. If you have filed any correction statement, Token Number and other details should be as per the latest correction statement.

11. While entering validation details for submitting request to download conso file, I am getting an error, ‘More than one PAN in the challan’. What should I do?

In such case, CIN of that challan should be entered which has been claimed for at least two, three or more PANs.

12. While entering validation details for submitting request to download conso file, I am getting an error, ‘Invalid Token Number’. How do I rectify the error?

Enter Token Number for latest accepted statement (regular or correction) for the statement for which conso file is being requested.

13. While submitting request to download conso file, I am getting an error message that request has failed. What should I do?

In such cases, request for downloading conso file needs to be resubmitted.

Source: TRACES

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CPC (TDS) reminds deductors to file TDS statements for Q1, FY 2014-15

CPC (TDS) has issued a reminder communication to all deductors who have filed TDS Statements  for Q1, FY 2013-14 but not filed yet for Q1, FY 2014-15.

The issued communication has been given below:

Dear Deductor,

As per the records of the Centralized Processing Cell (TDS), you have filed TDS Statements for Q1, FY 2013-14, however, no TDS Statements have been filed for the said Quarter in FY 2014-15 as yet.

If you are not required to submit the relevant statement, you are requested to submit a declaration by taking appropriate action as suggested under “Action to be taken” in this communication. Otherwise, your urgent attention is invited to relevant CBDT Circulars and provisions of the Income Tax Act, mandating filing of TDS Statements and Issuance of TDS Certificates downloaded from TRACES.

1. Mandatory filing of TDS Statements:

Please refer to the provisions of section 200(3) of the Income Tax Act, 1961 read with Rule 31A, which reads as follows:

Every person responsible for deduction of tax under Chapter XVII-B, shall, in accordance with the provisions of sub-section (3) of section 200, deliver, or cause to be delivered, the following quarterly statements to the Director General of Income-tax (Systems) or the person authorised by the Director General of Income-tax (Systems), namely:

  • Statement of deduction of tax under section 192 in Form No. 24Q;
  • Statement of deduction of tax under sections 193 to 196D in-
    • Form No. 27Q in respect of the deductee who is a non-resident not being a company or a foreign company or resident but not ordinarily resident; and
    •  Form No. 26Q in respect of all other deductees.

It is, therefore, advised to file the applicable TDS Statements at the earliest to comply with the above provisions.

2. Implications of Non/ Late filing of TDS Statements:

  • For Deductors: In case of late filing of TDS Statements, a fee shall be levied on the deductor u/s 234E of the IT Act which reads as under:
    • Where a person fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues
  • For Tax payers: Non/ Late filing of TDS statements results into the TDS Credit not being available to the deductees. They, therefore, will not be able to claim the credit for tax already deducted from the payments made to them. Please note that TDS Certificates will not be available until the TDS Statements are duly filed.

3. Actions to be taken:

  • Please file the relevant TDS Statement without any further delay.
  • If you are not required to file the same, please submit a declaration for Non-filing on TRACES. For this purpose, you can login to TRACES, navigate to “Statements/ Payments” menu and submit details under “Declaration for Non-Filing of Statements”.
  • Issue TDS certificates after generating and downloading the same from TRACES. TDS Certificates downloaded only from TRACES Portal will be valid.

For any assistance, you can also write to ContactUs@tdscpc.gov.in or call our toll-free number 1800 103 0344.

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

CPC (TDS) TEAM

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