e-File Your TDS Statement by 31st January, 2018

INCOME TAX DEDUCTORS :

e-File TDS Statement for the quarter ending on 31st December, 2017 by 31st January, 2018

Delay in filing of TDS statement shall entail levy of fee of Rs. 200/– for each of default not exceeding amount of tax deductible

Issue TDS certificate in Form 16A on income other than salary for the quarter ended 31st December, 2017 by 15th February, 2018

Delay in issue of TDS certificate shall result in penalty of Rs. 100/– for each day of default not exceeding the amount of tax deductible/collectible

Some Important Points:

• Deductors who have deducted tax and have not deposited the same by the due date must do so immediately
• All deductors must register themselves at https://www.tdscpc.gov.in (TRACES Portal)
• Quote correctly PAN of the deductee so that they get the their due tax credit
• Quote correctly CIN of the challan to avoid any short payment default
• Non-quoting of PAN or TAN in TDS statement may lead to levy of penalty
• Deductors may avoid defaults about PAN and challan errors in preliminary screening, by responding to email/SMS front CPC(TDS)within seven days of receipt of email/ SMS
• TDS certificate downloaded from TRACES system is the only valid certificate
• Download PAN-TAN master available at TRACES Portal for avoiding PAN errors
• If there is no transaction liable to IDS/TCS to report for the quarter, do intimate the same at TRACES Portal using ‘Declaration for Non filing-functionality to avoid notice for non- filing of TDS Statement.

Download:

• TDS certificate in Form 16A, containing 7 character TDS certificate number, mandatorily from https://www.tdscpc.gov.in
• TDS certificate cannot be downloaded front TRACES Portal in case of non/ incorrect quoting of PAN
• Transaction Based Report (TER) in case of non-PAN non-residents reported in Form 27Q