New FVU 3.6 & FVU 2.133 mandatory for eTDS/eTCS return w.e.f.16.10.2012

New File Validation Utilities – FVU 3.6 & 2.133 has been released pertaining to validation of eTDS & eTCS returns and will be exclusively applicable with effect from 16th Oct 2012. However till then the current versions (3.5 & 2.132) could still be used.

FVU 3.6 will be applicable for quarterly TDS / TCS statements pertaining to FY 2010-11 onwards & FVU 2.133 will be applicable for quarterly TDS / TCS statements pertaining up to FY 2009-10.

Key features of File Validation Utility (FVU) version 3.6

  1. Import of challan file (.csi file): Import of challan file downloaded from the TIN website (Challan Status Inquiry) has been made mandatory at the time of validating the quarterly TDS/TCS statement, if the TDS/TCS is deposited through challan. This will be applicable in case of regular statement and for correction statement in the scenarios as below:
  • Update of challan (C2 correction).
  • Deductee/ Collectee and corresponding challan is updated (C3 correction).
  • Addition of challan (C9 Correction)
  1. Incorporation of sections codes as below:

Section code

Section code to be quoted in Quarterly TDS/TCS Statement

Applicable to TDS/TCS statement Form No.

Remarks

194LB

4LB

27Q

Applicable from FY 2011-12 onwards

194LC

4LC

27Q

Applicable from FY 2012-13 onwards

206CJ

J

27EQ

Applicable from FY 2012-13 onwards

206CK

K

27EQ

Applicable from FY 2012-13 onwards
  • Separate flag has been incorporated for reporting salary details of “Super senior citizen” (individual above the age of 80 years) at Form no. 24Q. This categorization is applicable from FY 2011-12 onwards.
  • Separate flag for categorizing software vendor transaction (as per ITD notification dated 21/2012) in Non salary TDS statements (Form 26Q Section code 194J and 27Q Section code 195). This categorization is applicable from FY 2012-13 onwards.
  • FVU version 3.6 will be mandatory w.e.f October 16, 2012. Upto October 15, 2012 FVU version 3.5 and FVU version 3.6 will be applicable.

Key features of File Validation Utility (FVU) version 2.133ĮՁ¡Æ’Å¡ 

Import of challan file (.csi file): Import of challan file downloaded from the TIN website (Challan Status Inquiry) has been made mandatory at the time of validating the quarterly TDS/TCS statement, if the TDS/TCS is deposited through challan. This will be applicable in case of regular statement and for correction statement in the scenarios as below:

  1. Update of challan (C2 correction).
  2. Deductee/ Collectee and corresponding challan is updated (C3 correction).
  3. Addition of challan (C9 Correction).

 FVU version 2.133 will be mandatory w.e.f October 16, 2012. Upto October 15, 2012 FVU version 2.132 and FVU version 2.133 will be applicable

Download FVU version 3.6 mandatory wef 16.10.2012

Download FVU version 2.133 mandatory wef 16.10.2012


Limitation of Software
:However it has few drawbacks like you can not import old FVU file for correction ,only consolidated files or earlier saved file can be imported ,further no database can be saved in this program ,No 27A form generated etc .But main feature is its free and comply all the mandatory requirement and tested by Govt agency .so Download ETDS return software from tin nsdl now.

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TDS/TCS Compliances for 2nd Quarter of F.Y. 2012-13

 Last date for payment of tax deductions/collections for September – 7th October, 2012

 Last date of filing of TDS/TCS returns for Q2 of F.Y. 2012-13 – 15th October, 2012

 Last date for issuance of the TDS/TCS certificates for Q2 – 30th October, 2012

* The above is applicable for deductors other than the Office of the Government.

TDSMAN (PDS Infotech) has maintained its Number 1 position having the highest acceptance percentage of TDS / TCS correction returns ever since monitoring was introduced. read more

Use TDSMAN Software where you can also prepare accurate correction returns. TDSMAN is competitively priced at Rs. 2500/- and this includes routine updates based on statutory changes and user feedbacks during the course of the year. Click here to Order Now

TDSMAN Software Advantages:

Covers all TDS / TCS forms & prints the corresponding certificates

Single package supporting multiple years

Web based updation system for instant delivery of statutory changes

Integrated FVU for file generation

Prints Forms 27A & 27B for submitting the returns

Powerful query based reporting system

Import from EXCEL & Consolidated Statement

Simplified & accurate Correction Returns

Supports unlimited deductors, deductees & employees

Auto download option of Challan (.csi) file during validation

Reports in PDF / Excel

Free Updates

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Application for PAN New Form 49A from June 2012

      No Comments on Application for PAN New Form 49A from June 2012

Everyone who wants to apply PAN or who is required to apply PAN as per the law of Income Tax shall apply PAN on Application form 49A.

Form 49A – Indian citizens of India, HUFs, company firm, LLP, AOP, Trusts, BOI, Local Authority, or artificial juridical persons can apply through Form 49A. Now Income tax department has issued a new 49A (PAN application Form). Download links form 49A in pdf format, form 49A in excel format and fillable format of form 49A are given below.

Form 49AA– NRI, company, firm, LLP, AOP BOI, local authority, AJP (Not registered in India)will use form 49AA. Download links of form 49AA are given below.

Fill the form 49A with black pen and block letters only. The following document will be attached with form 49A (PAN application form)

Proof of identity

  • Bank account
  • Certificate of identity signed by a MP, MLA or Gazetted Officer, etc.
  • Credit card
  • Degree
  • Depository account
  • Driving license
  • Matriculation certificate
  • Passport
  • Property tax assessment order
  • Ration card
  • School leaving certificate
  • Voter identity card
  • Water bill

Proof of Address

  • Bank account
  • Certificate of address signed by MP, MLA or gazette officer etc.
  • Credit card
  • Depository account
  • Driving licensee
  • Electricity bill
  • Property tax assessment order
  • Ration card
  • Rent receipt
  • Telephone bill

Notes: if applicant is minor then parent or guardian proof of identiy and address will be accepted.

If applicant is NRI then copy of bank statement in country of residence will be accepted.

At the time of opening bank account of minor, PAN of the parents will be specified.

Instructions to Fill Form 49A

  • Form 49A or 49AA can be download from the website of TIN. Please note that download only new PAN application form avoid old application form. It will not be accepted by TIN centers or application centers.
  • Then fill Form 49A with required detail as mentioned in the instructions given on the backside of PAN Application for.
  • Go to TIN center with form 49A and required documents and also Rs. 94 (Fee to apply PAN)
  • Submit it to TIN Center and get the acknowledgement for the same. It will help you to track the status of PAN.
  • It will take up to 15 days to reach PAN card to your address. But you can track status of PAN after 4 days. Sometimes system generate PAN earlier than estimate time.
  • The department will issue laminated PAN card containing name, photo, signature and PA Number.

Please remember and kept your PAN card safe, you are not allowed to apply another PAN. You can apply only one PAN once in a life. If any assessee has more PAN then one, they have to surrender all extra PAN to assessing officers at your ward range of income tax office in the city.

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Assessee can claim Refund of TDS paid twice or excess

Since no provision is made in the Act or the Rules for claiming refund of excess TDS deducted with respect to remittance to the foreign company, CBDT issued its circular No. 769, dated 6-8-1998 and made provision for granting such refund to the Indian assessee deductee under the following circumstances:

(i) after the deposit of tax deducted at source under section 195,

(a) the contract is cancelled and no remittance is required to be made to the foreign collaborator;

(b) the remittance is duly made to the foreign collaborator, but the contract is cancelled and the foreign collaborator returns the remitted amount to the person responsible for deducting tax at source;

(c) the tax deducted at source is found to be in excess of tax deductible for any other reason.

Under such circumstances it was provided that in the type of cases referred to above, a refund may be made independent of the provisions of the Income-tax Act, 1961 to the person responsible for deducting the tax at source from payments to the non-resident, after taking the prior approval of the Chief Commissioner concerned.

It is not in dispute that subsequently in the circular no. 790, dated 20-4-2000 the third category mentioned in clause (i)(c) of paragraph 1 of circular dated 6-8-1998 came to be deleted and only two categories mentioned in clause (i) (a>) and (b) were retained. In para (9) of the circular dated 20-4-2000, it was clarified that the refund was not to be issued to the deductor of tax in the cases referred to in clause (i)(c) of paragraph 1 of circular No. 769, dated 6-8-1998. [Para 7]

Clause (i)(c) of paragraph 1 of circular No. 769, dated 6-8-1998 was sufficiently wide and would cover variety of cases of refund of excess tax deducted at source. The assessee deposited the amount of tax twice for the same payment only due to oversight. Such overpayment was required to be refunded. This was the only ground raised in the impugned communication. In the reply filed by the Commissioner, two more grounds are sought to be raised. One that the circular dated 6-8-1998 was superseded by subsequent circular dated 20-4-2000, and two that the foreign company was liable to pay tax; the contract was executed as per the agreement and the assessee was not entitled to any refund. One is not able to accept either of the two objections. The case of the assessee was required to be considered under circular dated 6-8-1998 which was prevailing when the application was filed. Any subsequent change made long thereafter could not be applied in the instant case. The assessee filed its application promptly and shortly after the event of deducting the tax in excess of liability. Such an application which was though filed on 2-11-1998 was not decided for a long period of time despite repeated reminders from the assessee. Nearly one year and six months passed when the Board issued fresh circular dated 20-4-2000. In that view of the matter, subsequent circular could not have been applied. Simply because the contract was completed did not mean that the assessee was liable to deduct tax twice. It was a pure mistake.

The opposition in respect of both the counts, therefore, must fall. Firstly case of the assessee would fall under clause (i)(c) of para (1) of circular no. 769, dated 6-8-1998. Subsequent deletion of such provision by virtue of circular dated 20-4-2000 could not have been applied to the assessee. Quite independent of both the circulars, deduction of tax at source twice and depositing with Government twice was a pure mistake. The revenue cannot retain any amount that the assessee paid under pure mistake particularly, when the refund thereof was claimed shortly after the second payment was made and mistake was detected. Contention of the revenue that deduction at the time of remittance was not a tax and, therefore, not refundable is self contradictory when it also contends that refund of tax is not covered either under circular dated 6-8-1998 or under circular dated 20-4-2000. If the amount deposited with the Government of India was not taxable at all, there was no question of holding on such amount deposited with the Government under mistake. [Para 9]

Under the circumstances, the original sum of Rs. 19.49 lakhs must be refunded to the assessee on the application being made. Such refund should carry reasonable interest at least after reasonable period of the assessee making application for such refund. No doubt, in circular dated 6-8-1998, as also in circular dated 20-4-2000, it is clarified that on such refund no interest under section 244A would be payable since such amount is not a tax. However, such provision cannot be applied in the instant case. Firstly, present is not a case of tax deducted at source which was later on found to be in excess of the assessee liability. Present is a case where out of sheer mistake, an amount was deducted twice and also deposited with the Government. As per the revenue, the deduction of Rs. 19.49 lakhs and depositing with the Government at the time of making provision for payment was not a tax at all. If that be the position, such amount which was deposited with the Government under mistaken belief ought to have been refunded, even without reference to any of the circulars. Both the circulars essentially governed the situations where the tax at the time it was deducted at source is rightly deducted and deposited. However, due to subsequent developments such tax deposited with the Government turns out to be in excess of the liability of the deductee. Such deductee would be entitled to refund thereof. But being a foreign company and not regularly assessed to tax in India, may not be interested in pursuing such refund claims. To obviate such hardship, circulars made special provision enabling the assessee to claim refund under certain circumstances. In the instant case, the assessee deposited an amount which was not required to be deposited at all. Such amount was deposited purely on mistake. The revenue could not and should not have tried to capitalize on such a mistake. On the revenue passing the refund claim, within a reasonable period from the assessee making application for such purpose, the interest liability to that extent could have been avoided. However, such application was firstly not decided for a long time and thereafter was wrongly rejected. The revenue must pay reasonable interest. Under the circumstances, the revenue was to be directed to refund to the assessee the sum of Rs. 19.49 lakhs with simple interest for the period after expiry of four months from the date of receipt of the application dated 2-11-1998 till actual payment.

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