Communication
dated 03rd June, 2014
Reminder: New Release from CPC (TDS): "Aggregated TDS
Compliance" at Organization's PAN Level
In our endeavor to facilitate
improved TDS administration, CPC (TDS) feels glad to provide you with the
feature of "Aggregated TDS Compliance" at PAN level for all TANs
associated with the referenced PAN. Following are additional details
related to the new feature.
What is
meant by Organization's PAN:
·
The above indicates the PAN of an
entity, having more than one TANs of its branches, associated with the
referenced PAN. This will be the PAN of the Central Office, Headquarter etc.,
as may be appropriate. The said PAN must review the "Aggregated TDS
Compliance" report on a regular basis to improve TDS compliance at
Organization level.
What does
the new feature offer:
·
The above stated PAN can view TDS
performance for all of its respective TANs by logging into TRACES as a
Taxpayer.
·
The Defaults generated for all
the TANs can be viewed by using the feature. The following type of Defaults
for the branches can be viewed:
o
Total Default
o
Short Payment Default
o
Short Deduction Default
o
Interest on Payment Default u/s 201
o
Interest on Deduction Default u/s
201
o
Late Filing Fee u/s 234E
o
Interest u/s 220(2)
o
PAN Errors
·
The respective TANs with Defaults
in their TDS Statements can be pursued to get the above resolved by taking
following actions:
o
Carrying out necessary corrections
in the records reported in the TDS statements,
o
Paying the outstanding demand and
o
Submitting the Correction Statements
at the earliest.
·
The feature thus provides for a
summary of Defaults, which assists in effective TDS administration,
monitoring, control and compliance at Organization level.
·
The feature will be extremely useful
for the purpose of complying with the provisions of Section 40(a)(ia) of the
Income Tax Act, 1961 by the concerned entity, to ensure that correct
information is disclosed in paragraph 27A/B of the Tax Audit Report (Form 3CD)
u/s 44AB of the Act.
How to use
the feature:
·
You are requested to Log in to
TRACES as a Taxpayer, using your credentials
·
Navigate to Aggregated TDS
Compliance menu on the webpage.
·
Choose the views according to Financial
Year (Download Option 1) or Default Type (Download Option 2) from the drop
down lists.
·
PDF or html views are available for
the entity having less than 25 TANs. For larger number of TANs, a download
request needs to be submitted.
·
Submit the
Request to generate a Request Number.
·
The submitted request will be made "Available"
in MS Excel format, under "Requested Downloads" in the "Download"
menu.
·
The report will be "Not
Available" if there are No Defaults or there are statements yet to be
processed. If you believe that either of the two is not true, the same can be
reported to CPC (TDS).
·
The feature provides for the above
information for Financial Year 2007-08 onwards.
The steps to use the functionality
are easy and convenient, however, e-Tutorials for the above release will
shortly be made available on the portal. You can reach out to us on ContactUs@tdscpc.gov.in or call our toll-free number 1800 103 0344.
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