Following are the major changes pursuant made by Income Tax Department Pursuant to NOTIFICATION NO 31/2009, Dated: March 25, 2009 applicable with effect from FY 2009-2010.

New Amended Formats are available at following Links in Excel and PDF format.

Excel Format of New Form No. 16 (Salary Certificate), Form No. 16A (TDS Certificate), TCS Challan No. 17 and Form No.27D applicable w.e.f. 1-4-09

Changes in TDS Payment Challan

1.       Challan Format:

a.       New TDS Challan, Form 17 is introduced instead of Earlier form 281..

b.      Challan is section Independent. Deductor can prepare a single challan at the end of the month for all his TDS deductions (Including Salaries and Non Salaries).

c.       This additionally Contains, information of the Account No [or Card No] of the Deductor.

d.      The earlier fields Surcharge and Cess break-ups are not necessary.

e.      Information of Deductions paid under that challan has to be provided. This should contain PAN, NAME of the deductee and Total TDS.

2.       Payment:

a.       Electronic Payment [e-Payment] of TDS made mandatory to all. No TDS/TCS Payments would be accepted directly at Bank Branches.

b.      The system for acceptance of e-Payment would be ready by end of April in accordance to Form 17.

c.       An entry form would be provided similar to Form 17 format.

d.      Credit Card/Debit Card acceptance is likely to happen.

e.      The old system of e-Payment may remain for challan payments of earlier years.

3.       Acknowledgement:

a.       The Deductee records under that challan have to be entered online [if less than 10] or have to be uploaded through a file.

b.      On successful payment, an acknowledgement would be generated in Form 17 format, which validates [Yes/No] for each PAN of the deductee and generates a Unique Transaction Number [UTN] for each deductee record.

4.       Due Date:

a.       Challan Payment Due dates remain almost the same.

b.      Joint Commissioner, on prior request through AO, can approve for Quarterly payment of TDS under certain sections.

Changes in Return filing

1.       Earlier Forms:

a.       Earlier quarterly returns namely, Form 24Q, 26Q, 27Q and 27EQ remains as it is, with a little change in File structure.

i.      UTN has to be mentioned against each deduction.

b.      Quarterly Due dates for all the forms have been removed and annual due date of 15th June introduced.

i.      These forms have to be prepared quarterly and can file at the end of the year, before June 15th.

2.       New Form:

a.       New Quarterly return, Form 24C introduced with following contents.

b.      With the Deductor information, Form 24C should contain Details of TDS Compliances for 3 months separately and the Challan Identification Numbers/Amounts in that quarter.

c.       Details of TDS Compliances should contain the section wise (all)  information of Total Payment, Total amount eligible for deduction, Total amount considered for TDS at full rate, Amount of TDS at full rate, Total amount considered for TDS at lesser rate, Amount of TDS at lesser rate, Total TDS.

d.      The due dates are same as earlier quarterly returns.

Changes in TDS Certificates

1.       New Formats of Form 16 and 16A.

2.       These formats may be applicable for FY 2009-10 and above.

a.       Form 2008-09, the same earlier formats may continue as the data for new formats would be less. However a confirmation circular is expected from CBDT.

3.       The forms should contain the information of UTN against each payment shown in TDS certificate.

a.       UTN has to be mentioned, along with Gross amount paid and TDS amount.

b.      Date of Payment is not required. That means if a party payment is shown consolidate in monthly challan, a yearly Form 16A contains only 12 entries.

4.       Form 16A is section independent. It can contain multiple section related deductions.

File Validation Utility

1.       For 2008-09 financial year,

a.       There is a new validation utility 2.126 [probably releasing by 15/04/2009]. This has nothing to do with the 09-10 changes.

2.       For 2009-10,

a.       A new File Validation Utility is expected for uploading 2009-10 returns. However it is required only after June 30th, as far as first quarter return filing is concerned.

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Category : Income Tax (25538)
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Tags : income tax act (501) TDS (924)

0 responses to “Changes in TDS Payment Challan & TDS return Applicable from 01.04.2009”

  1. SHREE says:

    CAN WE PAY TDS PAYMENTS ONLINE THROUGH OUR TAX CONSULTANT WHO HAS FACILITY OF PAYING TAX TROUGH HIS BANK ACCOUNT WITH INTERNET FACILITY?

    • Sandeep Kanoi says:

      Yes you can. It will not make any difference. Even if you have online payment facility in one account you can pay TDS through that of your other business concerns. As when paying you have to enter the TAN of the account for which you want to pay.

  2. PANKAJ GARG says:

    WE HAVE PAID TDS ONLINE FOR F.Y. 2009-10 IN THE OLD TDS PAYMENT CHALLAN NO. 281.. FROM YOUR WEB SITE WE HAVE LEARNT THAT A NEW FORM CHALLAN NO. 17 IS TO BE USED … BUT WE HAVE NOT SEEN THE FORM 17 IN NSDL WEBSITE FOR ONLINE PAYMENT… IS THERE ANY PROBLEM AND DO WE NEED TO RECTIFY??

    • Sandeep Kanoi says:

      Government is not yet ready with software and facility to accept payment in form no. 17. Although they made from 17 mandatory from 01.04.2009 but since facility for payment is not there so we can still pay in old form n0. 281. From reliable sources it it learnt that most probable they will postpone payment in form 17 till 30th June 2009.