PROCEDURE OF PREPARATION OF QUARTERLY STATEMENT OF DEDUCTION OF TAX UNDER SECTION 200(3) OF THE ACT (Part -9 of Circular 17/2014)

ANNEXURE
VI

 

POINT NO. 4.9 OF CIRCULAR OF DEDUCTION
OF TAX AT SOURCE FROM SALARIES U/S 192 OF THE INCOME TAX ACT, 1961 – FINANCIAL
YEAR 2014-15 – PROCEDURE OF PREPARATION OF QUARTERLY STATEMENT OF DEDUCTION OF
TAX UNDER SECTION 200(3) OF THE ACT

 

1.   
Quarterly e-TDS statement/return should
be prepared by Deductor/DDO as per the data structure (File Format) prescribed
by the DIT (Systems), Delhi which is available on TIN website www.tin-nsdl.com.
Deductor/DDO can prepare e-TDS statement/return either by using in-house
facilities, third party software or by using Return Preparation Utility (RPU)
developed by NSDL e-Governance Infrastructure Limited (NSDL), which is freely
downloadable from the TIN website.

 

After preparation of e-TDS statement/return, the
Deductor/DDO is required to validate the same by using the File Validation
Utility (FVU) which is freely available on TIN website.

 

2.  
Procedure of furnishing of e-TDS
statement/return at TIN Facilitation Centres (TIN-FCs):

Once file  is 
validated through FVU, ?.fvu 
file‘  is  generated.  
Copy of this ?.fvu file‘ in

 

CD/DVD/Pen Drive along with physical Form 27A duly
filled and signed by the Deductor/DDO or by the person authorized by the
Deductor/DDO, to be furnished at TIN-FC, an acknowledgement containing a unique
15 digit token number is provided to the Deductor/DDO. Deductor/DDO can view
the status of e-TDS statement/return on TIN website. Only one regular e-TDS
statement/return for a ?FY-Quarter-TAN-Form‘ can be submitted.

 

2.1 Correction in e-TDS
statements/returns:

 

2.1.1 CPC-TDS portal (www.tdscpc.gov.in)
has also introduced online correction of statements whereby personal information,
PAN correction, add/update of challan information, add/update of salary detail,
add/update/movement of deductee row etc. can be done in the statements filed by
the deductors, with or without the digital signatures. For further
details, kindly refer the matrix below:

 

 

Default

Personal

Challan

PAN

PAN

Add

Interest,

Modify/Add

Delete/Add

 

Summary

Information

Correction

Correction

Correction

Challan

Levy

deductee

salary

 

View

 

(Unmatched,

(Annex.I)

(Annex.

to

Payment

rows

deducted

 

 

 

matched

 

II)

statement

 

 

rows

 

 

 

Deductee +

 

 

 

 

 

 

 

 

 

Deductee

 

 

 

 

 

 

 

 

 

Movement

 

 

 

 

 

 

Online

Y

Y

Y

Y

Y

Y

Y

Y

Y

Correction

 

 

 

 

 

 

 

 

 

(with

 

 

 

 

 

 

 

 

 

signature,

 

 

 

 

 

 

 

 

 

2013-14

 

 

 

 

 

 

 

 

 

onwards)

 

 

 

 

 

 

 

 

 

Online

Y

Y

Y

N

N

Y

Y

N

N

Correction

 

 

 

 

 

 

 

 

 

(with

 

 

 

 

 

 

 

 

 

signature,

 

 

 

 

 

 

 

 

 

prior
to 2013-

 

 

 

 

 

 

 

 

 

14
onwards)

 

 

 

 

 

 

 

 

 

Online

Y

N

Y

N

N

Y

Y

N

N

Correction

 

 

 

 

 

 

 

 

 

(without

 

 

 

 

 

 

 

 

 

digital

 

 

 

 

 

 

 

 

 

signature,

 

 

 

 

 

 

 

 

 

2013-14

 

 

 

 

 

 

 

 

 

onwards)

 

 

 

 

 

 

 

 

 

Online

Y

N

Y

N

N

Y

Y

N

N

Correction

 

 

 

 

 

 

 

 

 

(withoutdigital

 

 

 

 

 

 

 

 

 

signature,

 

 

 

 

 

 

 

 

 

prior
to 2013-

 

 

 

 

 

 

 

 

 

14
onwards)

 

 

 

 

 

 

 

 

 

 

For more information,
deductors are advised to refer to e-tutorials/FAQs available on TRACES portal.
Online correction entails no charges and does away with the requirement of
downloading conso file and visiting TIN-FCs.

 

2.1.2       
With effect from 1st
January, 2015, TRACES will be providing a correction window of 7 days from date
of processing at CPC-TDS (generally 2 days after date of filing of statement).
This facility will enable the filer to correct PAN errors and challan mismatch
cases identified by CPC-TDS and avoiding of issuance of demand notices.
Therefore, deductors are advised to check the processing status promptly so as
to utilize this facility.

 

2.1.3       
Deductor/DDO can also file a correction
e-TDS statement for any modification in the e-TDS statement. Correction
statement can be prepared by using the TDS Consolidated file that is available
at TRACES (www.tdscpc.gov.in).
Validation of correction statement is in line with regular e-TDS statement,
physical Form 27A duly signed and Statement Statistical Report at TIN-FC. On
successful acceptance of correction e-TDS statement at the TIN-FC, an
acknowledgement containing a unique 15 digit token no. is provided to the
Deductor/DDO. Deductor/DDO can view the status of e-TDS statement on TRACES
website.

 

3.  Procedure of preparation and furnishing of
paper TDS statement/return at TIN-

 

Facilitation
Centres (TIN-FCs):

 

All statement/return in
Form 24Q are required to be furnished in computer media except in case where
the number of deductee records are equal to or less than 20. Paper
statement/return duly filled and signed by the Deductor/DDO can be furnished at
TIN-FC. On successful acceptance of paper statement/return at the TIN-FC, an
acknowledgment containing a unique 15 digit token no. is provided to the
Deductor/DDO. Deductor/DDO can view the status of paper statement/return on TIN
website. No charges are applicable for paper TDS statement/return.

 

3.1
Correction in paper statements/returns:

 

The physical TDS
statement/return is to be filed again in case of any correction to a physical
TDS statement/return accepted at TIN. The deductor will submit the duly filled
and signed physical TDS statement/return along with a copy of provisional
receipt of regular paper statement/return at TIN-FC. On successful acceptance
of correction paper statement/return at the TIN-FC, an acknowledgement
containing a unique 15 digit token number is provided to the Deductor/DDO.
Deductor/DDO can view the status of paper statement/return on TIN website.

 

4.
Procedure of furnishing of e-TDS statement/return online at TIN website:

 

Deductor/DDO is required
to procure Digital Signature Certificate (DSC) for online upload of e-TDS
statement/return. After registration on TIN website, an authorization letter by
the Deductor/DDO should be provided on the letter head of the organisation to
NSDL. Once application is approved by NSDL, user ID is created and intimated to
Deductor/DDO on their registered email ID provided at the time of registration.
Preparation and validation of e-TDS statement is in line with regular e-TDS
statement/return (submitted at TIN-FC).Deductor/DDO can login with its user ID
and DSSC and upload the validated e-TDS file (.fvu file) generated by the FVU
to the TIN website. On successful acceptance of e-TDS statement/return at TIN,
an acknowledgement containing a unique 15 digit token no. and 8 digit receipt
number is generated and displayed. There is no need to submit physical form 27A
in online upload. Deductor/DDO can view the status of e-TDS statement/return on
TIN website.

 

No
charges are applicable for online upload of e-TDS statement/return.

 

4.1
Correction of e-TDS statement/return online at TIN website:

 

Deductor/DDO can file a
correction e-TDS statement/return for any modification in e-TDS
statement/return accepted at TIN central system. Correction statement/return
can be preparedby using the TDS consolidated file only,
available at the CPC-TDS portal www.tdscpc.gov.in through TAN
registration. Preparation and validation of e-TDS statement is in line with
regular e-TDS statement/return (submitted at TIN-FC) Deductor/DDO can login
with its user ID and DSC and upload the validated e-TDS file (.fvu file)
generated by the FVU to the TIN website. On successful acceptance of correction
e-TDS statement/return at TIN, an acknowledgement containing a unique 15 digit
token number is generated and displayed. There is no need to submit copy of
provisional receipt of regular e-TDS statement/return, physical Form 27A and
SSR in online upload. Deductor/DDO can view the status of e-TDS
statement/return on TIN website.

 

5. For FAQs and further
details, Deductors/DDOs are advised to log on website www.tin-nsdl.com

 

*******

Download Circular 17/2014

Taxclick Team
This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.

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