Progressive organizations file their TDS Statement in time… Are you the one?
- e-file TDS statement for the financial year/ quarter ended on 31st March,2017 by 31st May, 2017
Delay in filing of TDS statement shall entail levy of fee of Rs. 200/-for each day of default not exceeding amount of tax deductible
- TDS certificate in Form 16 and 16A, containing 7 character TDS certificate number from https://www.tdscpc.gov.in
- TDS certificate cannot be downloaded from TRACES Portal in case of non/ incorrect quoting of PAN
- Transaction based report (TBR) can be downloaded in case of non-PAN non-residents reported in Form 27Q.
- TDS certificate in Form 16 (on salary) and Form 16A (on income other than salary) within the stipulated date.
(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)
- Deductors who have deducted tax and have not deposited the same by the due date must do so immediately
- All deduotors must register themselves at https://www.tdscpc.gov.in (TRACES Portal)
- Quote correctly PAN of the deductee so that they get their due tax credit.
- Quote correctly CIN of the Challan to avoid any short payment default.
- Nan-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 from CPC(TDS) within 7 days of receipt of email/ SMS.
- TDS certificate downloaded from TRACES Portal is the only valid Certificate.
- Download PAN-TAN master available at TRACES Portal for avoiding PAN errors.
- 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.