Last date for issuance of the TDS/TCS certificates for Q1 of FY:2013-14 – 30th July, 2013

The above is applicable for deductors other than the Office of the Government
Delay in issuing certificates will involve a fine of Rs. 100 per day subject to an upper limit of the tax deducted.
As per Circular No. 01/2012 dated 09.04.2012, it mandatory for all deductors to issue TDS certificate in Form No. 16A after generating and downloading the same from TRACESwebsite.

Guidelines for Online Filing of Tax Return

Necessary documents required before e filing tax return:

  • PAN card
  • Previous Tax Return
  • Form 26AS
  • Form 16
  • Form 16A

Step 1: Open the website for online tax filing in your browser to begin the e-filing process.

Step 2: There are various kinds of income tax forms located on the right side of the site for various types of returns. You are required to download the appropriate form which is in the zip file and unzip it to file the form.

The form is to be opened in MS-Excel only and you will also have to enable the macro X controls, if not already enabled.

Step 3: All the required details and particulars have to be correctly and attentively filed in the form and then validate it by clicking “validate” icon on the last page.

After validating you have to access the “Generate XML” link and then subsequently save the generated XML file.

Step 4: The saved XML file will now have to be uploaded on the income tax e-filing portal mentioned above. For this an existing user can log in by entering the PAN number as User ID and a secret password.

For new users, an account has to be created by filing in the PAN, name, father’s name, date of birth, e-mail address and contact number. After this an automated activation link will be sent on the mail ID provided by you, which has to be clicked to activate the account.

The PAN number is the user ID in this link. Follow the steps to choose a secret password which has to meet the laid down specifications in the website. In case the secret password is lost or forgotten one can reset the same using the PAN number and the secret question that has been previously answered.

Step 5: Once you log in, jump onto the ‘submit return’ tab. Now, select the relevant year that is 2013-2014 in our case, choose whether you want to file return using digital signature or not and upload the XML file that was generated in Step III above.

Step 6: Acknowledgment form ITR-V of the return having filed will be generated now. The file can be opened with a password which your PAN followed by the date of birth in DDMMYYYY format.

Step 7: In case you have filed return by affixing digital signature on the tax return, the procedure is finished at this stage. Otherwise a printout of the ITR-V will have to be taken and physically signed before sending it to the CPC Bangalore within 120 days of filing return. One has to keep a copy of signed ITR-V with him for future reference.

Step 8: When the ITR-V acknowledgment is received, you will have to log in to your account and acknowledge the completion of the process.

Evaluate your TDS defaults using Justification report downloaded from TRACES

After the submission of your TDS return you have the option to evaluate your return by downloading the Justification report from the TRACES website.

This report lists out the following errors that was present in the returns that was submitted:

PAN Errors – List of all PANs that which is not present in the Income Tax Department data.

Late Payments – List of all those records whose TDS payments were deposited after the due date. An interest of 1.5% per month is charged on the TDS amount for the late payment.

Short Deduction – List of all the records in which the TDS deduction rate is less than the rate as per Income Tax Act.

Generation of excel sheet from the Justification report downloaded from TRACES

To generate the excel sheet from the Justification report downloaded from TRACES, follow the steps given below:

1. To generate the justification report excel sheet, download the “TRACES-Justification-Report-Generation-Utility-V1.0” from the following link:

Download TRACES-Justification-Report-Generation-Utility-V1.0

2. Now, provide the path of unzipped report downloaded from TRACES website and the path of the output folder where you want this report to be generated.

3. Click on “Generate Report” button to generate the report.

Please note, to generate the report you have to enable the macros in the excel sheet.

PDF Convertor Utility NEW Ver.(1.2L) to generate Form-16/16A For A.Y. 2013-14 from TRACES.

It is observed from the new (TRACES) that TDS Dedeductor have face the problem when they generate Form 16/16A in bulk form i.e. more than 1000 then the TDSCertificate or Form 16/16A at a time therefore Income Tax Department advised to All Deductors  to download PDFConverter Utility V1.2L again. This new version will works on or after 23rd March, 2013.  The TDS Deductor/Deductee candownload TDS Certificate (Form 16 (Part A) and Form 16A) from TRACES. The file will be provided in text format and will containcertificate details for all requested PANs.Text file is password protected and password will be ”.

A certificate is prescribed u/s 203, which is to be issued by person deducting tax at source. Every person deducting tax is duty bound to furnish this certificate to the person from whose income/payment the tax has been deducted. The certificate should specify the amount of tax deducted and rate at which it is deducted (Form No. 16A, under Rule 31) and other particulars prescribed. A new form 16A has been introduced w.e.f. from 1/4/2010 vide Income-tax (6th Amendment) Rule, 2010(Pl. Ref. Annexure – 4). The new Rule 31 introduced vide I.T. (6th Amendment) Rules provides the following with respect to certificate of deduction of tax.

Deductor will have to convert the text file into PDF using TRACES PDF Generation Utility. This utility will convert the text file into individual PDFs for each PAN. The same utility can be used to convert text file for Form 16 / 16A