“Self-declaration” facility for Lower TDS Deposited During the Quarters

CPC TDS has released a “Self Declaration” feature on web-portal TRACES with respect to Lower TDS deposited during a Quarter/s to facilitate the deductors to share the reasons for reduction in TDS deposited during the year or quarter compared to last year.

CBDT has released an advisory communication in this regard which is given below:

Date of communication: 12/12/2015

Dear Deductor (TAN: XXXXXXXXXX),

You would appreciate that timely Deduction of Tax and itÅ’s timely Deposit to the Government Account is in vital interest of the National Economy. Centralized Processing Cell (TDS) congratulates you for your valued partnership and contribution in the Nation building process.

However,as per the records of the Centralized Processing Cell (TDS), it has been observed that there is (40%/ 45%/ 50%/ 55%/ 60%) reduction in the amount of Tax Deposited by you during the period April 1 to October 15, 2015 as compared to the corresponding period in Financial Year 2014-15.

You may have reasonable causes for less Deduction and less Paymentof tax with respect to the above mentioned reduction. CPC TDS has released a “Self Declaration” feature on web-portal TRACES with respect to Lower TDS deposited during a Quarter/s to facilitate the deductors to share the reasons for reduction in TDS deposited during the year or quarter compared to last year.

How to use the functionality:

  • Navigate to “Declaration to Deposit Lower TDS” under “Statements/ Payments” Menu
  • Add statement details with respect to Financial Year, Quarter and Form Type for which declaration needs to be made.
  • Add “Nature of Payment” and “TDS Lower by %”
  • Select “Reasons for Lower Deduction” from the drop down menu.
  • Check declaration by submitting “I Agree” radio button.

The following provides a view of the final screen after submitting required details:Self-Declaration-for-Lower-Deposit-of-TDS

If any amount needs to be deducted and deposited, immediate action may be taken without any further delay. Otherwise, you are requested to submit at your option the “Self-Declaration for Lower Deposit of TDS” as prescribed above.

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

CPC (TDS) TEAM

Source: TRACES

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