Transcript e-filing of TDS Returns

WELCOME TO TDS AWARENESS /
e-filing of TDS Returns
PROGRAMME – 07.08.2014
TDS WARD, MADURAI
1
What is TDS
 With holding tax or Tax deduction at source
means, deduction of tax as and when the
transaction takes place i.e, when the payment is
made or payable, which ever is earlier.
 Since Government needs revenue to function, it
is very important to have a flow of revenue to
meet the expenditure.
2
TDS Cycle
Indentifying the transaction
 Tax deduction and remittance
 Collection of CIN/BIN (Book Identification
Number)
 Preparation of Quarterly e-TDS returns
 Uploading the e-TDS return through TIN-FC
 Issue of Form No.16/16A
3
Identifying the transaction
 First check whether the payment made is attracts TDS
liability or not, then classify the payment into two
categories
 1. Salary
 2. Non-Salary (Contract Payments, Professional Fees,
Parking lot lease etc.,)
 Note: Even payable entries(transactions) also attracts
Tax deduction at source.
4
Tax deduction and remittance
 It is the duty of the deductor (who is responsible of signing the
bills or the paying authority) to deduct income tax at the time of
payment as per the prevailing rates and make sure correctness
of the details of PAN which is submitted by the deductee/payee.
 Remittance:
 1. By Challan (No.281, for the TDS payments)
 2. By Book-adjustment (through Treasury or PAO)
 Time Limit:
 1. If the tax is to be paid by challan – 7th of the following month
 2. If the tax adjusted through Book-adjustment – same day
5
Consequences in case of failure to remit /
deduct the TDS
 Interest at the rate of 1.5% p.m, or part of the month,
from the date of deduction to the date of actual
payment, u/s 201(1A) of IT Act,1961.
 if fail to deduct TDS, interest at the rate of 1% p.m or
part of the month, from the date on which tax
deductable to the date of actual payment u/s 201(1)
of the IT Act,1961.
6
Failure to pay tax deducted at source
prosecution u/s 276B fo IT Act, 1961
 Punishable
with
fine
and
imprisonment – minimum 03
maximum 07 years.
7
rigorous
months,
Payments made through Challan
 Points to remember (Very Important):
 Use correct Challan (Challan No. 281)
 Mention Correct Code of Payment viz., 92ASalary, 94C – Contract payment etc.,
 Enter the correct Assessment Year
 Enter the Correct TAN
8
Contd.,
 Mention the Major head as 21, since the
deductors are Govt.,
 What is Assessment Year?
 A financial year starts from the month of 1st
April of the year to 31st March. Example: FY
2014-15, starts with 01.04.2014 to 31.03.2015.
for this Financial year , the assessment year
9
will be 2015-16, and so on.
How to check the accuracy of the
TAN?
First check the allotment letter of
TAN, if it is not available, you can
check at
www.incometaxindia.gov.in
 Failure to quote the TAN or entering the wrong TAN
is liable for penalty of Rs.10,000/- u/s 272BB of IT
10
Act, 1961.
Place the curser on TAN, click on “Know your TAN”, it
will take you to a new window…
Place the
curser
here
Click to
verify
You can
download
challan
Enter the mandatory details (you can check by entering
name or TAN)
You can
search by
name or
entering the
TAN
Payments made through Book-adjustment
 Points to be remembered:
 Quote correct TAN and Quantum of payment and tax
deducted thereof and submit the particulars in time
at District Treasury Office/PAO.
 On receiving of particulars, the DTO/PAO files the
monthly return in the Form no.24G which generates
BIN.
13
BIN (Book Identification Number)
 Based upon the details submitted by the DDOs, the
respective DTO/PAO will file Form No.24G (which is
a monthly e-TDS return).
 On successful filing of Form No.24G, a unique
number will be generated for each DDO, which is
called BIN.
 This BIN need to be quote in the quarterly returns.
14
Where to get this BIN
 You can get from the respective DTO’s Office/PAO’s
Office
Or
 You can check in the income tax web site
 Navigation:
 Go to www.tdscpc.gov.in
15
Select “deductor”
Click “check here to view BIN details”
Select
the
deductor
Click
here
It will take to the new window
Enter the necessary particulars
Let us see how to file the e-tds
returns
 Now you all have the required details viz,
Challan details (or) BIN details
PAN of the deductees
TAN particulars etc.,
18
Due dates for furnishing the e-tds returns
Periodicity
Govt., deductor ( who remits the
tax through Book-entry)
Other than Govt., deductor /
deductors who pay tax by
way of challan 281.
31st JULY
15th JULY
Q2 (Quarter 2) 1st Jul
– 30th Sep
30th OCTOBER
15th OCTOBER
Q3 (Quarter 3)
1st Oct – 31st Dec
31st JANUARY
15th JANUARY
Q4 (Quarter 4)
1st Jan – 31st Mar
15th MAY
15th MAY
Q! (Quarter 1)
1st Apr – 30th Jun
19
Levy of Fee u/s 234E for the delay in
filing of e-tds returns.
 Note: u/s 234E of IT Act, 1961, the mandatory
fee @ Rs. 200/- per day from the due date to
submit the e-returns till the day of filing
(restricted maximum of tax remitted in the
particular quarter), this provision applicable
to all type of deductors including Govt.,
deductors.
20
Prerequisite for preparation of e-tds
returns
e-TDS RPU (Return Preparatory Utility)
software
FVU software (File Validation Utility)
CIN/BIN particulars
PAN of the deductees
21
Where to get these software ?
 Go to the website of NSDL, www.tin-nsdl.com
 Click on e-tds/e-tcs filing
 Click on e-tds/e-tcs RPU
22
Click
here
23
Click on “download RPU version 4.0 (applicable from
June 28, 2014)”, for the earlier years version is 3.9
Click
here
24
Click to download
NSDL RPU
25
26
Click to install
RPU
27
After installing the software, the screen will appear as
follows,
Click to run
RPU
28
Click on the button “RPU, RPU 4.0, NSDL”, the screen
will appear as shown below.
Select,
24Q – Salary,
26Q – Non Salary,
27EQ – TCS.
29
Contd.,
SSelect
“Regular” for
new/fresh return
30
Select
Quarter
Enter FY
Enter all
Particulars
with out fail
31
Mention the 15
digit number of
the earlier
regular return
Click, if the
particulars are
same as above
Select YES, if
you filed
regular return,
earlier.
Click, to enter the
challan/BIN details
Enter the no. of
rows/challans to be
entered
Click OK, after
entering the
no. of rows
Select section
code, as per
the nature of
payment
Late fee u/s
234E has to be
entered under
the “FEE”
column
Enter the BIN
particulars
Enter 07 digit
BIN no.,
received from
the Treasury
Click “YES”, if
the TAX is paid
through
Treasury
Select “200”, for normal
TDS payments or “400”, for
demand raised by the IT
Dept.,
Don’t leave any ‘AMOUNT’
column blank, enter “0” if not
applicable.
Click here to
enter the
deductee
details
Click here to
enter the no.of
rows required
Select the
challan no. to
which the
deductee is to
be mapped
Follow the “HELP”
guidelines to map the
challans , carefully.
Enter the
serial no. of
the deductee
After preparing
the return, SAVE
for future
references
For opening the
previous saved
file, press OPEN
After saving
the file, click
on “create
file”, to create
and validate
the TDS/TCS
statement
Now the final step – “validating the statement”
Import .csi downloaded from the
‘challan status enquiry’ from TIN
website.
After selecting the path
where .fvu & Form no.27A
is to be saved, click on
validate button.
Select the path
where .fvu file and
Form no.27A is to
be generated
41
How to download .csi file from the TIN website
After entering the
NSDL website,
click “challan
status enquiry”,
this window wil
appear
Select the “TAN
Based view”, it will
lead you to a new
window.
42
Enter the TAN
Enter the period to
fetch all the challans
paid during that period.
On successful passing the validations, .fvu file
and Form no. 27A will be generated on the system
with suffix of “.fvu”, copy these files on a CD / Pen
drive and submit these to any near by TIN-FC (TIN
facilitation centers) after paying a nominal fee, as
prescribed.
Let us see how to view
“Individual Tax Credit” in Form
No.26AS and how to e-file the
“Individual Income-tax return”
After entering the
website of
“www.incometaxin
diaefiling.gov.in
If you are
registered user
then click “log in “
If you are registered user,
enter PAN, Password &
DOB
If you are not
registered earlier,
click here
After filling up the necessary details viz., PAN , Status,
Mobile No. and e-mail ID, your “ID & Password “ will be
created . By which you can view ‘Tax credit’ & file
‘individual return of income’ online.
After log-in , to submit
Return of Income, click
here
Click here, to view
your ‘tax credit’
You can calculate
your tax here.
Click here, to view
your ‘tax credit’
After selecting view form
26AS, this window will
appear
Click here, to view
your ‘tax credit’
Select PDF, HTML,
whatever the view you
required
Enter the
Assessment year
The TDS deducted
from the salary can
view here
One can view TAX
paid other than
TDS mode
How to download Form No. 16 &
Form No.16A (for the Tax
deductors only)
Go to
www.tdscpc.gov.in
Some useful websites/links
 www.incometaxindia.gov.in- To view TAN&PAN,to
download Challan and other circulars etc.,
 www.incometaxindiaefiling.gov.in-to submit
individual return of income, to view tax credit, to
view demand raised and sent by the IT Dept., etc.
 www.tin-nsdl.com-to download e-tds RPU, FVU and
challan status report and other related information.
 www.tdscpc.gov.in-to download Form No.16/16A and
57
justification reports etc.,
List of TIN-FCs in Dindigul District
 1. Religare Securities Limited – No.9/111C, LGB
Compund, Mengles Road, Dindigul -1.
 2. Integrated Registry Services Limited – No.24/51,
New Agraharam, Palani Road, Dindigul – 1.
58
THANK YOU
59
Please send your feedback/suggestions to PA (Accounts) to Collector,
Dindigul through E-Mail.
[email protected]
60