NSDL has notified changes in data structure and validations for filing eTDS statement for FY 2010-11. These changes are effective for the forthcoming second quarter statement filing due on Oct 15, 2010. The changes are primarily to give effect to Notification No. 41/2010 [F.No. 142/27/2009-SO(TPL)], dated 31-5-2010.
Changes
- 100% Valid PANs
- Reporting of Transport Contract payments without deduction of TDS
- Flagging penal rate deductions
- Mandatory Contact details of Deductor
- Reporting requirements for Govt Deductors
100% Valid PANs
Existing Rule
At present a minimum percentage of valid PAN is mandatory in any eTDS statement. This is 95% for Form 24Q and 85% for others
Changed Rule
Form 24Q/26Q/27Q
- All deductee records must have valid PANs. Even deductee records where tax has been deducted at lower/NIL rate must have valid PAN
- Only exception is deductee records where tax has been deducted at higher rate u/s 206AA
Form 27EQ
- The existing rule of 85% continues
Reporting of Transport Contract payments without deduction of TDS
Finance Act 2009 had made an important change in respect of applicability of TDS on transport contractors. Section 194C was replaced and the following two sub sections provided for non deduction of TDS on transport contractors
(6) No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.
(7) The person responsible for paying or crediting any sum to the person referred to in subsection (6) shall furnish, to the prescribed income-tax authority or the person authorised by it, such particulars, in such form and within such time as may be prescribed.
- In terms of sub section (7), now such transactions are to be reported in regular eTDS statement.
- All such deductions to transport contractors where tax has not been deducted are to be marked “T” in the column Reason for Non-deduction / Lower Deduction, if any in the deductee details
Penal rate deductions
- All deductions where tax has been deducted at hiigher rate in terms of section 206AA are to be marked “C” in the column Reason for Nond eduction / Lower Deduction, if any in the deductee sheet
- Such transactions need not have valid PAN.
For records marked with higher rate only below mentioned fields can be updated:
- PAN
- Amount of payment
- Date of payment
Mandatory Contact details of Deductor
In the deductor details, contact details of deductors are provided
- Email-Id of deductor / responsible person is now mandatory
- Field for mobile number of responsible person has been added.
- Any one of the contact details of deductor is mandatory:
- Deductor telephone no. along with STD code
- Responsible person telephone no. along with STD code
- Mobile no. responsible person
Reporting requirements for Govt Deductors
- For TDS deposited by book entry, 7 digit number generated by TIN for accepted Form 24G statement to be quoted in BSR code field. This value will be provided by the Accounts Officer to the deductor.
- For TDS deposited by book entry, 5 digit number generated by TIN for DDO record of accepted Form 24G statement will be quoted in Transfer voucher field. This value will be provided by the Accounts Officer to the deductor
Form No 27EQ
- Form No 27EQ is to be filed for tax collection at source
- Validation for no/lower/higher deduction will not be applicable for Form no. 27EQ
- PAN compliance validation of 85% will be applicable for Form no. 27EQ
New File Validation Utility
- Quarterly e-TDS statements (regular and correction) upto FY 2009-10 should be validated with FVU version 2.129. There is no change in the validations for statements upto F.Y. 2009-10
- Quarterly e-TDS statements (regular and correction) for FY 2010-11 should be validated with FVU version 3.0.
Related Post:-
- Income-tax (Sixth Amendment) Rules, 2010 – Substitution of rules 30, 31, 31A, 31AA, 37CA and 37D; Form Nos. 16, 16A and 27D; insertion of Form No. 24G and omission of rule 37A
- Summary of Recent Amendments in TDS rules vide Notification No. 41/2010 Applicable from 01.04.2010
- NSDL releases new FUV file for quarterly e-TDS/TCS statement pertaining to FY 2009-10 and 2010-11
I have Filed A 3rd Quarter ETDS return in Bank against which i got a Provisional Receipt containing =13 Challans & No of Deductee records with Pan = 41 & Total Challan amount = Rs. 71097/- but i cam to know from my party that there is some changes in PAN No…. So i filed a correction ETDS statement with corrected PAN No with the Bank mentioning original Provional Number… Thing is that when i got the corrected provisional Recipt in that No of challans were 4 & No of Deductee records with PAN were 13 while Total Challan amoun amount were Rs. 51796/-… I wanted to know why the amount & dedutee record differed in Both Challans & whether i have to give Original Provisional Number to Partys whom i have not changed PAN ….& Corrected Provisional Recipt No to party whom i have changed PAN in Corrcted TDS statement while Giving them TDS certificate….
Read more: Revised Guidelines for eTDS Correction | SIMPLE TAX INDIA-TDS RATE INCOME TAX RATE