- at the rate specified in the relevant provision of this Act; or
- at the rate or rates in force; or
- at the rate of twenty per cent.
S. No
|
Total Income
|
Rate of tax
|
1 | Where the total income does not exceed Rs. 2,00,000/-. | Nil |
2 | Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/- | 10 per cent of the amount by which the total income exceeds Rs. 2,00,000/- |
3 | Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. | Rs. 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
4 | Where the total income exceeds Rs. 10,00,000/-. | Rs. 1,30,000/- plus 30 Per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
S. No
|
Total Income
|
Rate of tax
|
1 | Where the total income does not exceed Rs. 2,50,000/- | Nil |
2 | Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/- |
10 per cent of the amount by which the total income exceeds Rs. 2,50,000/- |
3 | Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/- |
Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
4 | Where the total income exceeds Rs. 10,00,000/- |
Rs. 1,25,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
S. No
|
Total Income
|
Rate of tax
|
1 | Where the total income does not exceed Rs. 5,00,000/- | Nil |
2 | Where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000/- |
20 per cent of the amount by which the total income exceeds Rs. 5,00,000/- |
4 | Where the total income exceeds Rs. 10,00,000/- |
Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
The amount of income-tax shall be increased by a surcharge @10% of the Income-tax on payments to an individual taxpayer, if the total income of the individual exceeds Rs 1 crore during FY 2013-14 (AY 2014-15). However the amount of Surcharge shall not exceed the amount by which the individual’s total income exceeds Rs 1 crore and if surcharge so arrived at, exceeds such amount (assessee’s total income minus one crore) then it will be restricted to the amount of total income minus Rupees one crore.
2.3.1 Education Cess on Income tax: The amount of income-tax including the surcharge if any, shall be increased by Education Cess on Income Tax at the rate of two percent of the income-tax.
2.3.2 Secondary and Higher Education Cess on Income-tax: An additional cess is chargeable at the rate of one percent of income-tax including the surcharge if any, but not including the Education Cess on income tax as in 2.3.1.
Nil return can be divided into two categories:
1. Nil eTDS return which have only Nil amount challan and no deductee details (We will refer it as a pure Nil eTDS return)
2. Nil TDS return having Nil amount challan and having deductee details also with remarks tag “A ” , “B” ,”T” ,”Z”,”Y”
First type of return i.e. pure Nil eTDS returns has been dispensed with and cannot be filed on or after 01.10.2013 but second type return still can be filed even after 01.10.2013 with FVU 4.0.
The Codes shown above have specific purposes which has been described as under:
So to create a Nil tds return after 01.10.2013 have two steps:
Step -1: Enter challan details
Step-2: Enter at least one deductee details
Note: Please note that while creating the eTDS return for a Given quarter you can enter deductee details from start of the financial year to end date of the given quarter. The same rule applies on deductee entries with above tags also. So in quarter -2 for FY: 2013-14, you can enter any entries dated 01.04.13 to 30.09.2013.
Failure to deliver statement within time prescribed u/s 200 (3) or to the proviso to sub-section (3) of section 206C may liable to penalty which shall not be less than Rs. 10,000/- but which may extend to Rs. 1,00,000/-. No penalty if payment of tax deducted or collected along with fee or interest and delivering the statement aforesaid before the expiry of 1 year from the time prescribed for delivering the such statement. However No penalty shall be imposed u/s 271H if the person proves that there was reasonable cause for the failure.(section 273B).
Status Verification Of E-Tds Return Furnished To Tin
New Delhi: PAN card or Permanent Account Number card is an essential document for most us, not just for the purpose of filing tax returns but many of us, use it as a form of identification, as well. So, it goes without saying that losing your PAN card can leave you feeling tensed and restless. But, there’s no reason to fret, as getting a reprint or a new card, in case you never had one, is as easy as a click of a button.
Here are the steps to apply for a PAN card online:
Visit the website of the Income Tax Pan Services Unit. This can be visited at https://tin.tin.nsdl.com/pan/
This is the home page of the Income Tax PAN Services unit and has different choices such as application for a new PAN, Enquiry and Tracking status, Reprint of PAN card and changes or correction in the PAN details. The applicant must choose the option which is applicable to him.
To apply for a new PAN, Form 49A will need to be used. Form 49A can be filled online by visiting the above mentioned website. Fill in the details and submit the form online.
After the form is submitted online successfully, an acknowledgement is displayed. This shows a unique 15 digit acknowledgement number. This acknowledgement must be saved and printed for further process.
The acknowledgement form must be sent to the Income Tax department. Before sending this, you will need to attach a few documents along with the acknowledgment form. This includes a proof of address and a proof of identity. Your name which is mentioned in these documents should be in the same format as that in the PAN application form. Take care of this at the time of filling in Form 49A.
You must also affix two recent colour photographs on the acknowledgment form in the applicable space. Signatures have to be made where indicated. The photograph you affix should be clear and recent, as this is the same photograph which will be used on your PAN card.
Application for PAN necessitates payment of Rs.96 if the communication address is within India. In this case, you can make the payment by one of the following methods – cheque, Demand Draft, internet banking, credit card or debit card. If the communication address is outside the country, then the amount to be paid is Rs. 962, and this is only in the form of a demand draft. In the case of payment by internet banking, by credit card or by debit card, the payment has to be made at the time of filling in the form, after which a payment acknowledgement will be given. Take a print of this and attach with the acknowledgement form.
The acknowledgement form must thus be accompanied by photographs, proof of address, proof of identification and the payment/payment proof as the case may be. This must be sent to NSDL in Pune within 15 days of the online application date. The envelope must be subscribed with the words ‘APPLICATION FOR PAN – Acknowledgement Number’. The applications are processed at NSDL after receipt of payment – meaning if the payment has been made by means of a demand draft or cheque, you must wait for realization of the payment.
The steps above are simple and self-explanatory. There are adequate instructions, guidelines and a list of Do’s and Don’ts in the website which will guide you in every step of the PAN application process. The application status can be tracked online after the acknowledgement has been sent. Online payments made can also be tracked online. NSDL also offers the facility of tracking by writing to them at their address or by sending an SMS to 57575 by typing SMS NSDLPAN Acknowledgement No.
The process of changing or correcting the details of your existing PAN card is similar to the process of applying for a new PAN card. At the home page of the Income Tax PAN Services Unit, you will need to select “Changes or Correction in PAN details”. Fill in the PAN Change Request Form online and follow the steps above. This PAN change request section also has separate guidelines, instructions and Do’s and Don’ts to help you. – See more at: http://gsoftnet.blogspot.in/2013/10/lost-your-pan-card-dont-worry-apply.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+blogspot/qrIv+(Gsoftnet)#sthash.SD8KpEda.dpuf
TDSCPC has sent a message to all the deductors, in which it has shown concern over wrong filing of TDS return by the deductors and has suggested few tips which may be helpful to file correct and timely eTDS returns.
Letter send by TDSCPC is given below for your ready reference:
Dear Deductor,
You are the esteemed stakeholder of CPC(TDS). As the due date of filing of quarterly TDS statement for second quarter of FY 2013-14 is approaching fast, you are advised to file TDS statement well before due date (15th October for Non Government deductors and 31st October for Government deductors). You are requested to make note of the following facts before filing the quarterly TDS statement:
a) CORRECT REPORTING: Cancellation of TDS statement and deductee row is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government/Non Government) of the deductor, PAN of the deductees and other particulars of deduction of tax) in the quarterly TDS statement.
b) Quote correct and valid lower rate TDS certificate in TDS statement wherever the TDS has been deducted at lower/zero rate on the basis of certificate issued by the Assessing Officer
c) Last provisional receipt number to be quoted in regular TDS/TCS statements: While filing new regular (original) TDS statement, it is mandatory to quote the last accepted provisional receipt number of the regular quarterly TDS/TCS statement of any form type.
d) TDS statement can not be filed without quoting any valid challan and deductee row.
e) Late filing fee, being statutory in nature, can not be waived.
f) Download the PAN master from TRACES and use the same to file new statement to avoid quoting of incorrect and invalid PAN.
g) Validate PAN and name of the fresh deductees from TRACES site before quoting it in TDS statement.
h) Download TDS certificate (Form16A) from TRACES (www.tdscpc.gov.in) bearing unique TDS certificate number and issue to the taxpayers within due date.
i) File correction statements promptly in case of incomplete and incorrect reporting.
j) Download the justification report to know the details of TDS defaults, if any, on processing of TDS statement.
k) Do view your Dashboard regularly to know about your TDS performance.
l) Government deductors should obtain BIN (Book Identification Number) from their Accounts Officer (AIN holder) in time and quote the same correctly in TDS statement.
CPC (TDS) is committed to provide best possible services to you.