Thursday, January 5, 2012

e-tds Defaults- Intimation u/s 200A of I.T. Act, 1961 for financial year 2009-10 or another

Income Tax Department has issued Default Letters to the e-tds/e-tcs Deductors/Collectors.  Summary of defaults are given in the following formats. 
  • S.No.
  • RRR Number
  • Short Deduction -Amount
  • Short Deduction -Interest
  • Short Payment -Amount
  • Short Payment -Interest
  • Late Payment Interest -till dt of deposit of tax
  • Late Payment Interest -till dt of gen of intimation
  • Total
Maximum of defaults are correct but some defaults have been raised due to system error etc like  due date when payment made at the end day of the Financial Year.   System generates due date on the basis of  7 working days of the next following month which is not correct.    

Secondly I have just checked that in a case Interest was charged on "Late Payment of Interest".  Initially, deductor was agree to deposit the interest amount of approx. Rs. 250/-, but after enquiry  Default Status under Tan Registration link, It was found that too many demands have been raised by income tax department due to wrong Category of Tan.  By mistake  category of his TAN was uploaded Central/State.  Due to this his Due Date of each deduction was same day on which he had made payment.   

Therefore, in case you have deposit TDS in time and submit etds/tcs return in time, don't deposit any default amount before its checking in Default Status available in TAN Registration . 

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