FAQ-e-TDS

FAQ-e-TDS

Answer: Yes, it can be filled from our software Gen e-TDS. Annual e-TDS/TCS return is the TDS return under section 206 of the Income Tax Act (prepared in Form Nos. 24, 26 or 27) or TCS return under section 206C of the Income Tax Act (prepared in Form No. 27E), which is prepared in electronic media as per prescribed data structure. Such returns furnished in a CD/Pen Drive should be accompanied by a signed verification in Form No. 27A in case of Annual TDS returns or Form No. 27B in case of Annual TCS return

Answer: Yes. TDS/TCS returns filed in electronic form as per section 200(3)/206C, as amended by Finance Act, 2005, are quarterly TDS/TCS statements. As per the Income Tax Act, these quarterly statements are required to be furnished from FY 2005-06 onwards. The forms used for quarterly e-TDS statements are Form Nos. 24Q, 26Q and 27Q and for quarterly e-TCS statement is Form No. 27EQ. These statements filed in CD/Pen Drive should be accompanied by a signed verification in Form No. 27A in case of both e-TDS/TCS statements.

Answer: Following are the forms for TDS/TCS returns and their periodicity:

Form No. Particulars Periodicity
Form No. 24 Annual return of 'Salaries' under Section 206 of Income Tax Act, 1961 Annual
Form No. 26 Annual return of deduction of tax under section 206 of Income Tax Act, 1961 in respect of all payments other than 'Salaries' Annual
Form No. 27 Statement of deduction of tax from interest, dividend or any other sum payable to certain persons Quarterly
Form No. 27E Annual return of collection of tax under section 206C of Income Tax Act, 1961 Annual
Form No. 24Q Quarterly statement for tax deducted at source from 'Salaries' Quarterly
Form No. 26Q Quarterly statement of tax deducted at source in respect of all payments other than 'Salaries' Quarterly
Form No. 27Q Quarterly statement of deduction of tax from interest, dividend or any other sum payable to non-residents Quarterly
Form No. 27EQ Quarterly statement of collection of tax at source Quarterly

Answer: Form No. 27A is a control chart of quarterly e-TDS/TCS statements to be filed in paper form by deductors/collectors along with quarterly statements. It is a summary of e-TDS/TCS returns which contains control totals of 'amount paid' and 'income tax deducted at source'. The control totals of 'amount paid' and 'income tax deducted at source' mentioned on Form No. 27A should match with the corresponding control totals in e-TDS/TCS return. A separate Form No. 27A is to be filed for each e-TDS/TCS return.

In case of Annual Returns the relevant control charts are Form 27A for e-TDS and Form 27B for e-TCS.

Answer: Form 27A is an essence of the TDS/TCS statement. It is signed by the same person who is authorized to sign the TDS/TCS statement in paper format.

Answer: e-TDS/TCS should be prepared by the e-filing administrator in accordance with the prescribed data structure. And, separate data structure is prescribed for each type of form whether it is Quarterly return (FY 2005-06 onwards) or annual return (up to FY 2004-05).

Answer: It is a receipt number, which is given by the bank branch for use in TDS deposited. While, a separate receipt number is given for each challan deposited. You are required to mention the challan number in the e-TDS/TCS return and not the preprinted numbers on the bank challan form i.e. ITNS 269 or ITNS 271.

Answer: The Bank Branch Code is a seven digit unique code, which is allotted by the Reserve Bank of India to the each branch of the bank. And, you need to mention the bank branch code in the e-TDS/TCS return. You can get this code from the bank branch where the TDS amount is deposited (and) we have mentioned the same in Other Utilities > Miscellaneous Information > Bank BSR Codes.

Answer: Yes, it is mandatory to mention the 10 digits reformatted (new) TAN in your e-TDS/TCS return.

Answer: No, a single Form No. 26Q with separate Annexure corresponding to each challan payment for each type of payment has to be filed for all payments made to residents.

Answer: Yes, the Challan identification number (CIN) is essential for the all non-Government deductors.

Answer: PAN of the deductors has to be given by non-Government deductors. It is essential to quote PAN of all deduces failing which credit of tax deducted will not be given.

Answer:

Quarter Due date for Form No.24Q & 26Q Due date for Form No.27Q Due date for Form No.27EQ
1) April to June 15 July 15 July 15 July
2) July to September 15 October 15 October 15 October
3) October to December 15 January 15 January 15 January
4) January to March 15 May 15 May 15 May

Answer: The procedure for filing of e-TCS return is the same as that of e-TDS return except the forms to be used is different. The relevant forms for filing the e-TCS return are:

  • a) Annual Return: Form No. 27E, 27B (Control Chart)
  • b) Quarterly statement: Form No 27EQ, 27A (Control Chart).

The e-TCS returns are also to be filed with NSDL at the various TIN-FCS.

Answer: The details regarding to the help is required for filing of e-TDS is available on the Income-Tax Department website and the NSDL-TIN website. And, we are also available for all related help in the e-filing of TDS returns through our software.

Answer: The annual statement (Form No. 26AS) will be issued for all tax deducted and tax collected at source from FY 2005-06 onwards after the expiry of the financial year. You can get it within our software by downloading.

Answer: Form 26 QB is a Return cum challan statement, which is filled in case of transfer of Immovable property that should be more than Rs. 50 Lakhs. You have to upload 26Q, if there is more than one buyer and seller for each transaction.

Answer: yes, after uploading of Form 26 QB, after 15 days User can download form 16 B from traces and from direct link available in our software to download the same.

Answer: Yes, you can check Deductte wise payment report in both format detailed and summarized. User can check reports of payment with various sorting options like section/rate and threshold limit wise record report.

Answer: Threshold Limit check in Deductee Detail Entry and Data Quality Wizard is available. Whenever limit has been crossed software will notify you that total amount paid to particular deductee is now beyond the threshold limit so TDS should be deducted on the whole amount.

Answer: Yes, there is facility to verify certification No. which is issued u/s 197 directly from the TRACES. The software will let you know that total limit which is available as per that certification no. And, if the limit has been crossed software will show you shortfall of amount deducted.

Answer: Yes Auto Interest Calculation with its report is available in the software. You can directly download Justification reports from our software and check the cause of the shortfall or demand raised.

Answer: If you want to make changes in your previously filed return, then you have to prepare new correction report software will allow you to request for Conso file and import the same and after downloading Conso file you can make changes in correction file and re-upload the same.

Answer: Yes, users can Register DSC on Traces directly from our software and check the status.

Answer: If you want to view intimations directly in the software then you can use this facility to view intimations quickly.

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