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e-TDS :- Latest / New RPU 4.3 with FVU Version 4.6 or 2.142

Saturday, April 25, 2015 | comments

Friends,   NSDL has released new Version  of  TDS RPU named 4.3 with latest FVU version 4.6 or 2.142.  Special benefit of this FVU is that now Deduction of Rs. 1,50,000 is allowable under section 80CCE which was awaited to submit  Salary Return for the Quarter 4 of Financial Year 2014-15. However all features of new RPU or FVU are given below :-


Key Features – Return Preparation Utility (RPU) version 4.3 

 Quoting of PAN of responsible person for deducting/ collecting tax. 

 Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e., through transfer voucher. 

 Quoting of BIN mandatory only for the statements pertaining to FY 2013-14 onwards. 

 Update of tax deposit amount in deductee details enabled for the deductee records where tax has been deducted at higher rate. 

 Reduction in the applicable list of “Nature of Remittances” (Applicable in case of Form no. 27Q). 

 Enhancement of deduction allowed under section 80CCE from Rs. 1,00,000/- to Rs. 1,50,000/-. 

 Incorporation of latest File Validation Utility (FVU) version 4.6 (applicable for TDS/TCS statements pertaining to FY 2010-11 onwards) and FVU version 2.142 (applicable for TDS/TCS statements upto FY 2009-10).

Key Features – File Validation Utility (FVU) version 4.6 

 Quoting of PAN of responsible person for deducting/ collecting tax. 

 Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e., through transfer voucher. 

 Quoting of BIN details mandatory only for the statements pertaining to FY 2013-14 onwards. 

 Update of tax deposit amount in deductee details enabled for the deductee records where tax has been deducted at higher rate. 

 Reduction in the applicable list of “Nature of Remittances” (Applicable in case of Form no. 27Q). 

 Enhancement of deduction allowed under section 80CCE from Rs. 1,00,000/- to Rs. 1,50,000/-. 

 This version of FVU will be applicable with effect from April 21, 2015.



These files are in an executable zip file. These files are required for installing the e-TDS/TCS FVU.
FVU for quarterly e-TDS/TCS statement pertaining to FY 2010-11 onwards
FVU for quarterly e-TDS/TCS statement up to FY 2009-10
Instructions for extracting the files are given in:

Income Tax :- Minor correction in Excel Based Individual Calculator

Thursday, April 23, 2015 | comments

Friends,    Minor correction has been done on 16th April, 2015 in Income Tax Calculator for the Financial Year 2014-15 or Assessment Year 2015-16.   There was error in showing amount of Income Tax after deducting 80TTA but now same has been replaced with 0 (Zero).  


                This excel based individual utility is helpful for preparing  salary TDS/TCS return for the Fourth Quarter of F.Y. 2014-15.



e-TDS :- Defaults relating to Non-Salary Returns (26Q4) for the F.Y. 2009-10 or prior to F.Y. 2009-10

Thursday, April 9, 2015 | comments

Friends,   It is already known by  all Deductors that Income Tax Department (TRACES) has issued different types of default notices.   Out of which one is explained here in the interest of deductor which relates to Non-Salary TDS returns quarter 4 for Financial Year 2009-10 or it's prior. 

In the Financial Year 2009-10 or upto 31.03.2010 , deductors  pass entry  interest or commission etc  as Debit Expenses or Credit Party/Depositor except salary in their books on the last day of Financial Year  and deduct TDS on it.  Due date for deposit of such TDS were 31th May of each year. 

In issued defaults , benefit of above due dates have not been shown.  It does not mean that there is lapse in system in generating Justification Report.  But also there is lapse in submission in TDS return. 

I mean to say that there is Flag in TDS/TCS return which is to be used like shown in below screen in NSDL RPU/software:-


If we  use proper flag in TDS return then Default will be generated with giving benefit of due date 31th May.

Specifically :- The above flag is useless in case of Salary TDS/TCS return

Income Tax :- editable Form 15G or 15H for Non Deduction of TDS in certain cases.

Tuesday, April 7, 2015 | comments

Friends,    It is perfect time to submit Form 15G or 15H in banks or financial institution  for non deduction of TDS on interest etc.  With the help of these forms, investor can stop deduction of TDS for the Financial Year 2014-2015 (Assessment Year 2015-2016).



Who can submit form 15G or 15H
                 The person who have taxable income in particular financial year Less than Taxable limit can available benefit of these forms.  Senior citizen (Age => 60 years) will use Form H to avail benefit of non-deduction of TDS. 

Download form 15G or 15H (Word Format)
To know AO area code, type , ward etc which is required in Form 15G or 15H (Click here)

                   A investor or a person who have any deposit in Bank should also submit these forms to avoid further deduction of TDS in the Financial Year 2015-16 or Assessment Year 2016-17.

Income Tax :- Know your Area Code, AO Type, Range Code, AO Number and Jurisdiction, Building Name

Sunday, April 5, 2015 | comments

Friends,  State Bank of India and State Bank of Patiala have provided facility to auto Generate Form 15G or 15H to their account holders.   There is no need to enter PAN Number, Name, Address , Deposit Details like FDR No, Date of Investment, Period of Investment , Rate of Interest and amount of deposit etc.  This type of functionality increase the interest of depositors for investment in Banks.  Just click on Generate Button and get form Form 15G or 15H.  Depositor has to fill some mandatory fields like Area Code, AO Type , Range Code , AO Number and Jurisdiction, Building Name etc. 



A common man do not know how to get above values as required mandatory in generation of Form 15G or Form 15H which can be collected through link of  Know your Jurisdiction through PAN number. 

Just enter your PAN number and Captcha and get solution of above filed. 

The above facility is available only for those customers who are using internet facility for their accounts. 


English Tenses

| comments

Friends,

           The following screen may be helpful for those who wants to know English Tenses.  One example for each tense is also given in below screen :-


e-GRAS Payments through online system.

Friday, April 3, 2015 | comments

Friends,   Haryana Government has already published a website named egrashhry.nic.in for collecting Government Payments through physical challans.   Now, some functionality has been added in website like online payment through Punjab National Bank. 

Online Government Receipts Accounting System (e-GRAS) is an e-Governance Initiative of Government of Haryana under Mission Mode Project category and is part of Integrated Financial Management System. e-GRAS facilitates collection of tax/non tax revenue in both the mode online as well as manual.
Presently the person who has created their user id at e-GRAS or can use user id guest or password guest can avail this facility to make any time of Government Payments in Haryana.  It provides physical Challans of State Bank of India, State Bank of Patiala , Punjab National Bank or IDBI bank and online payment is only possible through Punjab National Bank.  Their is no issue of Retail or Corporation internet banking.  All users having internet facility of Punjab National Bank can make online payment at E-GRAS. 

Due Dates in the month of April 2015

Wednesday, April 1, 2015 | comments

Friends,   The below mentioned due dates are important for those deductors who have deducted TDS in the month March 2015 or have to issue TDS certificate u/s 194-IA.  It to requested to all deductors to stay in touch with due dates to avoid interest or penalty.

                It is also important for all deductors that they can deposit their tds deducted or collected in the month March, 2015  on 30th April, 2015
             
               
7 April 2015 -
​​​​Due date for deposit of Tax deducted under Section 194-IA in the month of March, 2015​
22 April 2015 -
​​Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of March, 2015​
30 April 2015 -
​​Due date for deposit of Tax deducted/collected for the month of March, 2015​
30 April 2015 -
​​Due date for deposit of TDS for the period January 2015 to March 2015 when Assessing Officer has permitted quarterly deposit of TDS under sections 192, 194A, 194D or 194H ​has permitted quarterly deposit of TDS under sections 192, 194A, 194D or 194H.
30 April 2015 -
​​​​​Copies of declaration received in Form No. 60/61 (not being — received at the time of opening a bank account) during October 1, 2014 to March 31, 2015 to the concerned Director (Investigation)​

Another Important Links related to TDS (Click Here)

Latest New NSDL Return Prepration Utility

Thursday, March 26, 2015 | comments

NSDL has recently provided new RPU Ver 1.0 for preparing TDS/TCS statements from Financial Year 2007-208 onwards.  No doubt RPU (Version 4.2) is already running but new is with new look.   In the first attempt I have checked that only original return can be prepared with the latest RPU Ver 1.0.   Picture view of new utility is available below :- 


Download (new TDS RPU Ver. 1.0) Click here 

Solution of Defaults

I was in wait that NSDL will provide latest RPU with the solution of defaults issued by Income Tax Department.   RPU 4.2 is not generating  some FVU's  of  correction TDS return relating to F.Y. 2007-08 or onwards which are urgently required for solution of Defaults.  The same has also informed to NSDL. 

Despite issuing RPU with solution , NSDL has provided RPU only for Regular statements.  Still new RPU has no value with RPU 4.2.


TDS :- Online Correction with or without Digital Signature

Sunday, March 15, 2015 | comments

Friends
There is confusion for deductor what can he do with or without digital signature for online correction for the period 2013-14 onwards or prior to 2013-14.  The below picture clear everything for deductor.  Some corrections like Modify /Add Deductee Rows and Delete / Add Salary Deductee rows can be done only for the period 2013-14 onwards with Digital Signature. Means Prior to 2013-14  the same can not be done with digital signature. 

Deductors are requested to check below screen before taking any action for TDS return online correction which will be helpful for him  





















Type of Correction Online  Online  Online  Online 
Year 2013-14 onwards Prior to 2013-14 2013-14 onwards Prior to 2013-14
Digital Siganture Yes Yes No No
Default Summary View Yes Yes Yes Yes
Personal Information Yes Yes No No
Challan Correction (unmatached,matched) +deductee movement Yes Yes Yes Yes
Pan Correction (Annex. 1) Yes No No No
Pan Correction (Annex. 2) Yes No No No
Add Challan to statement  Yes Yes Yes Yes
Interest , Levy Payment Yes Yes Yes Yes
Modify /Add deductee rows Yes No No No
Delete / Add Salary deductee rows Yes No No No
 
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