- Addition of New State code for “TELANGANA”.
New State code “36” for “TELANGANA” has been added.
- Applicability of FVU version:
From June 28, 2014, FVU version 4.3 would be mandatory for statements pertain to FY 2010-11 onwards.
Monthly Archives: June 2014
FVU 4.3 and FVU 2.139 released by NSDL
The Income Tax Department has released the following new File Validation Utilities on 27th June, 2014:
• FVU version 4.3 – For Statements pertaining to FY 2010-11 onwards.
• FVU version 2.139 – For Statements upto FY 2009-10.
These two FVU versions are mandatory with effect from June 28, 2014.
New PAN Application Form 49A & 49AA wef 16.05.2014 – Mother’s name can be shown on PAN Card
CBDT has revised PAN Application form 49A and 49AA wef from 16.05.2014 vide its notification no. 26/2014, Dated- 16-5-2014. This new form provide option to individuals to show mother’s name on PAN card. In revised pan application form Father’s name remain mandatory but column has been provided for Individuals to fill mothers name also. Further on pan card individual may opt for printing of either Mother’s name or father’s name.
The complete notification and revised PAN application forms are given hereunder:
INCOME-TAX (FIFTH AMENDMENT) RULES, 2014 – SUBSTITUTION OF FORMS 49A AND 49AA
NOTIFICATION NO. 26/2014 [F.NO.142/15/2013-TPL]/SO 2045(E), DATED 16-5-2014
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—
1. (i) These rules may be called the Income–tax (5th Amendment) Rules, 2014.
(ii) They shall come into force on the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962, in Appendix II, for Forms 49A and 49AA, the following Forms shall be substituted, namely:—
Download FORM No. 49A
APPLICATION FOR ALLOTMENT OF PERMANENT ACCOUNT NUMBER
[IN THE CASE OF INDIAN CITIZENS/INDIAN COMPANIES/ENTITIES INCORPORATED IN INDIA/UNINCORPORATED ENTITIES FORMED IN INDIA]
Download FORM No. 49AA
APPLICATION FOR ALLOTMENT OF PERMANENT ACCOUNT NUMBER
INDIVIDUALS NOT BEING A CITIZEN OF INDIA/ENTITIES INCORPORATED OUTSIDE INDIA/UNINCORPORATED ENTITIES FORMED OUTSIDE INDIA
Facility to download TCS Certificates in Form 27D from TRACES website
PC(TDS) has provided a feature of downloading Form 27D, the Tax Collection Certificatefor Deductees forming part of TCS Statements, filed in the form of 27EQ.
Refer to the following details for the above functionalities:
- Form 27D is Tax Collection Certificate in respect of deductees, reported in Form 27EQ Statements.
- Please refer to the provisions of Section 206C(5) of the Income Tax Act, 1962 :
- Every person collecting tax in accordance with the provisions of this section shall within [such period as may be prescribed from the time of debit] or receipt of the amount furnish to the buyer [or licensee or lessee] to whose account such amount is debited or from whom such payment is received, a certificate to the effect that tax has been collected, and specifying the sum so collected, the rate at which the tax has been collected and such other particulars as may be prescribed.
- Please note the following provisions of Rule 37D of Income Tax Rules, 1962:
- The certificate of collection of tax at source under sub-section (5) of section 206C to be furnished by the collector shall be in Form 27D.
- The certificate referred to in sub-rule (1) shall specify:-
- valid permanent account number (PAN) of the collectee;
- valid tax deduction and collection account number (TAN) of the collector;
- (1) book identification number or numbers where deposit of tax collected is without production of challan in case of an office of the Government;
- (2) challan identification number or numbers in case of payment through bank;
- receipt number of the relevant quarterly statement of tax collected at source which is furnished in accordance with the provisions of rule 31AA.
- The certificate in the Form No. 27D referred to in sub-rule (1) shall be furnished to the collectee within fifteen days from the due date for furnishing the statement of tax collected at source specified under sub-rule (2) of rule 31AA.
- To download the certificates, you are requested to navigate to the “Downloads” menu.
- After completing details for FY and Quarter, KYC needs to be completed for submitting request for downloads.
- The report will be made available under “Requested Downloads” menu. Please note that the report will be made available in Zipped file format, which needs to be extracted using the PDF Generation utility for Form 27D.
No need to submit Provisional Receipt of original statement & Statement Statistics Report for furnishing e-TDS/TCS correction statement
With effect from June 1, 2014, Deductors/Collectors need not submit copy of Provisional Receipt of original statement and Statement Statistics Report (SSR) for furnishing e-TDS/TCS correction statement.
Income Tax Department has revised the procedure for acceptance of e-TDS/TCS correction statements. The same is intimated vide Circular No: NSDL/TIN/2014/024 dated 28 May, 2014. The revised procedure is applicable with effect from June 1, 2014
In view of the above circular, TIN-FCs are required to accept e-TDS/TCS correction statements from Deductors/Collectors with .FVU file and duly signed Form 27A (generated from the latest File Validation Utility). The copy of Original Provisional Receipt and Statement Statistic Report (SSR) need not be accepted from Deductor/Collector.
The Circular produced is given as under:
Circular No: NSDL/TIN/2014/024 May 28, 2014
Subject: Revised procedure for acceptance of e-TDS/TCS correction statements and upload of scanned documents to TIN Central System
Attention of all TIN Facilitation Centers (TIN-PCs) is invited to the procedure of acceptance of e-TDS/TCS correction statements and upload of scanned images as provided in chapter 6 and 7 of the TIN-PC Operating Manual (TOM).
As per approval from Income Tax Department, the procedure for acceptance of e-TDS/TCS correction statement stands revised. The same is intimated vide this circular. The revised procedure applicable with effect From June 1, 2014 is as per table below:
| Sr. No. | Documents to be accepted along with e- TDS/TCS correction statements – Existing procedure | Documents to be accepted along with eTDS/TCS correction statements – Revised procedure (From June 1, 2014) |
| 1 | Physical Form 27A | Physical Form 27A |
| 2 | Statement Statistics Report (SSR) | |
| 3 | Copy of Provisional Receipt of Original Statement |
In view of the above, TIN-PCs are required to accept e-TDS/TCS correction statements from Deductors/Collectors with .FVU file and duly signed Form 27A (generated from the latest File Validation Utility). The copy of Original Provisional Receipt and Statement Statistic Report need not be accepted from Deductor/Collector.
The verification of control total screen has to be carried out on the basis of information present on Form 27A.
Further, the revised procedure for upload of scanned images of e-TDS/TCS correction Statements, is as per the following table wherein e-TDS/TCS statements are accepted on or after June 1, 2014.
| Documents accepted at the time ofacceptanceof e-TDS / TCS Statement | Documents to be returned to Deductor / Collector | Scanning of documents |
| 1. CD/Pen Drive2. Form 27A | 1. CD/ Pen Drive | 1. Form 27A2. Provisional receipt copy generated from SAMIn case of multi-hatch correction statements, following documents to be scanned;
|
Note: For e-TDS/TCS statements accepted upto May 31, 2014, the scanned images of Form 27A and Provisional Receipt needs to be scanned and uploaded as referred vide circular number NSDL/T1N/2011/009 dated May 6, 2011.
The version of TOM after the above said updates is 5.10. The version control sheet is attached as Anneyure A
In case of any clarifications, contact TIN Support Desk on 022-24994201.
For and on behalf of
NSDL e-Governance Infrastructure Limited
Bushan Maideo
Senior Vice President
CPC(TDS) – Solutions to common enquiries
TRACES has several easy-to-use, online e-Tutorials and FAQs that can be effectively used to get ready answers to your questions.
Following are some of the most common reasons deductors enquire or call TRACES:
What is the status of processing of statements?
- CPC(TDS) is glad to inform that the peak load of statement processing has already been taken care of.
- The status of processing of statements can be checked in your Dashboard after you login to TRACES.
- Please wait for 4 days after the statements have been filed before reaching CPC(TDS) with an enquiry on the above.
Having issues with downloading of TDS Certificates/ Consolidated Files?
- If you are unable to submit request for downloading of TDS Certificates or Conso Files, please first check the status of processing of relevant statements. You will be able to submit requests only after the statement has been processed.
- Please check the correctness of KYC information for submitting download requests to ensure successful submission of the request.
- TRACES is currently experiencing huge volume of requests for download of TDS Certificates. However, they are being made available within a day of submission of request. Please wait for 24 hours before reaching out to CPC(TDS) with an enquiry.
- Please refer to our e-Tutorials for detailed assistance on downloading TDS Certificates.
- To convert form 16/Form 16A in pdf format, PDF generation utility is required
- For downloading Consolidated files, the e-Tutorial can be referred.
Have a problem in password required for various process at TDSCPC?
- Click here to Check password for consolidated file, form 26AS, Form 16, Form 16A, Justification report
Have a query related to Intimations sent by CPC(TDS)?
- Please download the Justification Report to view the details of Defaults in the TDS Statements.
- Please refer to the e-Tutorial for detailed assistance.
Have a query related to Registration/Login?
- Please submit correct KYC information for Registration/ Login. Please refer to our e-Tutorialfor assistance.
- You are requested to wait for an hour, if the Account is locked due to incorrect password. Please retrieve a fresh password and the detailed procedure is specified in the e-Tutorial.
- If you need assistance for User ID, the e-Tutorial can be referred for detailed steps.
- Please use both the Activation Codes sent on the Registered Mobile Number and e-mail address for the purpose of successful activity.
Complete solutions to Late Payment and Late Deduction of TDS/TCS.
What should I do incase of Late Payment / Late Deductionintimation received?
The default amount will have to be deposited through challan no 281 by ticking minor head ’400′. Download consofile from TRACES for filing correction and update the challandetail. While filing correction, fill up interest amount in column no. 403 in Form 26Q, column no. 304 in Form 24Q, column no. 705 in Form 27Q and column no. 655 in Form 27EQ. Mention default interest amount in second last interest column in challan detail of conso file. (Refer e-tutorial – https://www.tdscpc.gov.in/en/download-nsdl-conso-file-etutorial.html).
Note: In case of paper return, interest amount should be mentioned in annexure.
What is the procedure of calculating interest on Late Payment?
Deposit late payment interest @ 1.5% per month or part of the month from the date of deduction till date of deposit.
Procedure for calculating Late Payment:
Calculation
No. of months in Defaults = 3 i.e., Mar-12 to May-12
4000*1.5%*3(Months) =180.00
What is the procedure of calculating interest on Late Deduction?
You have to deposit late deduction interest @ 1% per month or part of the month from the date of payment / credit to deductee till date of deduction.
Procedure for calculating Late Deduction:
Correct Calculation
No. of months in Defaults=1 i.e., 3-Mar-2012 to 4-Mar-2012
10000*1%*1(Months) =100.00
While filing a correction statement I quoted Late Deduction Interest amount in ‘Other’ column. How can I rectify?
Deductor can file a correction statement, delete the amount from ‘Other’ column and mention interest amount in interest column no. 403 in Form 26Q, column no. 304 in Form 24Q, column no. 705 in Form 27Q and column no. 655 in Form 27EQ. You also need to mention demand amount of interest in second last column of interest in challan details.
