Fast forward progress with timely TDS compliance

e-file TDS statement for the quarter ended on 31st December, 2018 by 31st January, 2019

File your TDS Statement before the last date 31st January, 2019 to avoid late fee of Rs 200/- per day and penalty upto Rs. 1,00,000 

DOWNLOAD TDS CERTIFICATE

  • In Form 16A, containing 7 character TDS certificate number, mandatorily from TRACES Portal https://www.tdscpc.gov.in

(TDS certificate downloaded from TRACES Portal only, Is the valid certificate. TDS certificate cannot be downloaded from TRACES Portal in case the PAN is incorrect or not specified in the e-filed TDS statement)

  • For deductions made from non-PAN non-residents, and reported in 27Q, Transaction Based Report (TBR) may be downloaded instead of TDS certificate

ISSUE TDS CERTIFICATE

In Form 16A (on income other than salary) for the quarter ended 31st December, 2018 by 15th February, 2019

(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)

Alert

  • 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
  • Quote correctly their TAN and also PAN of the deductee so that they get their due tax credit
  • Non-quoting of PAN or TAN in TDS statement may lead to levy of penalty
  • Quote correctly CIN of the challan to avoid defauft for short payment
  • Deductors may avoid defaults about PAN and challan errors in preliminary screening, by responding to email/SMS from CPC(TDS)within seven days of receipt of email/SMS
  • Use PAN-TAN master facility at TRACES Portal to verify correctness of PAN of the deductees
  • If there is no transaction liable to TDS/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

e-file TDS statement for the quarter ended on 31st December, 2018 by 31st January, 2019

More Under Income Tax

2 Comments

  1. E MURUGAN says:

    ATTENTION TO INCOME TAX –TDS DEPARTMENT, AUDITORS And CA Institute.
    Why INOCME TAX –TDS DEPARTMENT MAKES COMPLICTED QUARTERLY RETURN Format for Filing TDS Return?
    First of Why Quarterly Return Required? Is there any reason behind this? Or no one suggested for simplified Return? Or for No Return?
    Is only Monthly Payment with-Details of TDS deductors and deductee is not Enough to Department?
    Is not help the Business community ,Accounting, and Auditors?
    Here with My suggestion is given – I welcome your Thoughts, and view on this. Or else why can Government can implement this?
    Name of the Deductor

    TAN
    Month/ Year

    Deductee
    PAN NAME TOTAL PAYMENT SEC TDS% TDS Remarks

    XXXXXXX1 A & Co 50000 194C 2 1000
    XXXXXXX2 B & Co 75000 194A 10 7500
    XXXXXXX3 C& Co 22000 194I 10 2200
    Xxxxxxxx4 D & Co 100000 194H 5 5000
    Total
    15700

    Total TDS- Payable Rs .15700
    Declaration:- and Confirmation:- I /We, here by confirm that the Above Tax was deducted as above and paying the same.
    Payment: / Net Banking:- Select Bank/ and Proceed for Payment…..
    IS THIS IS NOT ENOUGH ON EVERY MONTHLY BASIS AND NO QUARTERLY RETURN IS REQUIRED TO FILE?- PL SHARE YOUR VIEWS.

  2. Zachariah Mathews says:

    It is good to have strict deadlines. However, the dedductee quite often suffers due to non compliance by the deductoor. Compensation in such cases should be given to the dedductee for the loss incurred in respect of tax credrefunds they being deprived off. I am an NRI, is a victim.

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