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Smart & Easy TDS Software for Preparing TDS Returns

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

Avail the Benefit of CPC(TDS) Analytics for Correction of PANs in your TDS Statements

Date of Communication: 19/11/2016

Dear Deductor, TAN (XXXXXXXXXX)

Centralized Processing Cell (TDS) has observed from its records that you have reported “Structurally Correct, however Invalid PANs” in your TDS Statement filed for Quarter 1 and 2 of Financial Year 2016-17. To correct such errors, CPC (TDS) Analytics provides facility of correct PAN suggestions for the Deductees, while submitting Online PAN Corrections based on your statement filing history.

Action to be taken:

  • “Online Correction” facility of TRACES can be used with Digital Signatures for correction of PANs. To avail the facility, you are requested to “Login to TRACES” and navigate to “Defaults” tab to locate “Request for Correction” from the drop-down menu. For assistance, please refer to the e-tutorial available on TRACES.
  • While submitting PAN Corrections, CPC (TDS) Analytics identifies the above referred errors for you and provides suggestions for Valid PANs. This will reflect as follows while submitting corrections:

Implications, if Errors are not corrected:

Deductor would not have been able to generate TDS Certificates for deductees with such incorrect PANs. In case, you have issued TDS Certificates outside TRACES, they will not be valid. In view of CBDT circulars 04/2013 dated 17.04.2013, No. 03/2011 dated 13.05.2011 and No. 01/2012 dated 09.04.2012, TDS Certificates downloaded only from TRACES Portal will be valid. Certificates issued in any other form or manner will not comply to the requirements referred in the Income-tax Act 1961 read with relevant Rules and Circulars issued in this behalf from time to time.

  • Correct TDS Credits in 26AS statements to such taxpayers will not be available and they will not be able to avail the same, while filing their Income Tax Returns.
  • As per section 206AA of the Income Tax Act, tax is to be deducted at a higher rate, in case of “Not Available/ Invalid PANs”. Therefore, default of Short Deduction, including Interest is charged on the deductor, if the tax has not been deducted at higher rate, as per the provisions of section 206AA.

Therefore, to avoid generation of defaults against you and to avoid any inconvenience to your deductees, please make full use of the above referred facility.

For any further 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

Source: TRACES

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CPC (TDS) reminder to Deductors for downloading TDS Certificates (Form 16A) for TDS Statements filed for Q1, FY 2016-17

Date of communication: 01/10/2016

Dear Deductor (TAN XXXXXXXXXX),

As per the records of Centralized Processing Cell (TDS), TDS Statements have been filed by you for Quarter 1 of Financial Year 2016-17; however, TDS Certificates in Form 16A have not yet been downloaded in respect of this quarter, from the web-portal TRACES.

Immediate Attention: With reference to the above subject, you are requested to download the TDS Certificates, without any further loss of time.

Please also refer to the following provisions of the Income Tax Act, 1961 in this regard:

Downloading of TDS Certificates from TRACES made mandatory:

In this regard, your attention is invited to the CBDT circulars no. 03/2011 dated 13.05.2011, no. 01/2012 dated 09.04.2012 and 04/2013 dated 17.04.2013, on the Issuance of certificate for Tax Deducted at Source in Form 16/16A as per IT Rules 1962. It is now mandatory for all deductors to issue TDS certificates after generating and downloading the same from “TDS Reconciliation Analysis and Correction Enabling System” or http://www.tdscpc.gov.in (herein after called TRACES Portal).

TDS Certificates downloaded only from TRACES hold valid:

In view of above circulars, it may kindly be noted that the TDS Certificates downloaded only from TRACES Portal will be valid. Certificates issued in any other form or manner will not comply to the requirements referred in the Income-tax Act 1961 read with relevant Rules and Circulars issued in this behalf from time to time.

Due Date for downloading and Penalty for non-compliance:

Please be advised that under the provisions of section 203 of the Income Tax Act, 1961 read with rule 31A, Certificate of tax deducted at source is to be furnished within fifteen (15) days from the due date for furnishing the statement of tax deducted at source. Failure to comply with the provisions of the Act will attract penalty under the provisions of section 272A of the Act, a sum of one hundred rupees for every day during which the failure continues.

Assistance for downloading TDS Certificates from TRACES:

You can logon to our portal http://www.tdscpc.gov.in and refer to our e-Tutorial to download TDS Certificates. 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

Source: TRACES

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Avail the Benefit of CPC(TDS) Analytics for Correction of PANs in your TDS Statements

Date of Communication: 23/09/2016

Dear Deductor, TAN (XXXXXXXXXX)

Centralized Processing Cell (TDS) has observed from its records that you have reported “Structurally Correct, however Invalid PANs” in your TDS Statement filed for Quarter 3 and 4 of Financial Year 2015-16. To correct such errors, CPC (TDS) Analytics provides facility of correct PAN suggestions for the Deductees, while submitting Online PAN Corrections based on your statement filing history.

Action to be taken:

  • “Online Correction” facility of TRACES can be used with Digital Signatures for correction of PANs. To avail the facility, you are requested to “Login to TRACES” and navigate to “Defaults” tab to locate “Request for Correction” from the drop-down menu. For assistance, please refer to the e-tutorial available on TRACES.
  • While submitting PAN Corrections, CPC (TDS) Analytics identifies the above referred errors for you and provides suggestions for Valid PANs. This will reflect as follows while submitting corrections:

Implications, if Errors are not corrected:

Deductor would not have been able to generate TDS Certificates for deductees with such incorrect PANs. In case, you have issued TDS Certificates outside TRACES, they will not be valid. In view of CBDT circulars 04/2013 dated 17.04.2013, No. 03/2011 dated 13.05.2011 and No. 01/2012 dated 09.04.2012, TDS Certificates downloaded only from TRACES Portal will be valid. Certificates issued in any other form or manner will not comply to the requirements referred in the Income-tax Act 1961 read with relevant Rules and Circulars issued in this behalf from time to time.

  • Correct TDS Credits in 26AS statements to such taxpayers will not be available and they will not be able to avail the same, while filing their Income Tax Returns.
  • As per section 206AA of the Income Tax Act, tax is to be deducted at a higher rate, in case of “Not Available/ Invalid PANs”. Therefore, default of Short Deduction, including Interest is charged on the deductor, if the tax has not been deducted at higher rate, as per the provisions of section 206AA.

Therefore, to avoid generation of defaults against you and to avoid any inconvenience to your deductees, please make full use of the above referred facility.

For any further 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

Source: TRACES

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CPC (TDS) reminder to Deductors for Closure of Taxpayer Grievance Tickets in their Inboxes

Date of communication: 20/08/2016

Dear Deductor,(TAN:XXXXXXXXXXXX)

The Centralized Processing Cell (TDS) has provided an integrated platform for taxpayers, deductors & assessing officer. The objective of the functionality is to provide the taxpaying citizen to report missing TDS credits in their 26AS account directly to the deductors and assessing officers for its quick resolution.

As a key stakeholder to TDS administration, the onus to provide resolution to the aggrieved taxpayer, lies with the Tax Deductor in case of anyissue regarding Tax Credits in 26AS or timely issuance of correct & valid TDS Certificates. Deductors are advised to constantly monitor the tickets raised by their deductees (taxpayers) to address their grievances at the earliest.

It has been observed that tickets raised by the Taxpayers are pending with you for closure and the details are as follows:

Ticket Number PAN TAN Ticket Creation Date Aging

Attention: For closure of the above ticket(s) , you are requested to Login to TRACES , Navigate to “Communications” menu and view the tickets as follows:

communication_imginbox

communication_imgopenticket

communication_imgcomments

You may file correction statement/original statement, as the case may be, to ensure complete and correct reporting in respect of aggrieved taxpayers. In case, you have not entered into any transaction with the concerned taxpayer, you may report the same in the “provide clarification” column. Your co-operation with respect to the above will be highly appreciated. CPC (TDS) will be glad to provide you any assistance in closure of tickets and 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

 Source: TRACES

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