E Tds Quarterly Data Preparation 0910

Important Pre-Requisites & Important Pre-Requisites & Instructions for quarterly Instructions for quarterly

eTDS Data Preparation eTDS Data Preparation A.Y. 2009-10A.Y. 2009-10

Vikram S. Mathur, FCA, DISA Vikram S. Mathur, FCA, DISA (ICAI)(ICAI)

[email protected]@gmail.com

+919998090111+919998090111

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Some Common Some Common AbbreviationsAbbreviations• NSDL – National Securities Depository NSDL – National Securities Depository

Limited.Limited.• TIN – Tax Information Network.TIN – Tax Information Network.• TIN-FC – TIN Facilitating Centre.TIN-FC – TIN Facilitating Centre.• OLTAS – On Line Tax Accounting System.OLTAS – On Line Tax Accounting System.• ERACS - Electronic Return Acceptance ERACS - Electronic Return Acceptance

and Consolidation System.and Consolidation System.• CPLGS - Central PAN Ledger Generation CPLGS - Central PAN Ledger Generation

System .System .• VB – Visual BasicVB – Visual Basic• RPU – Return Preparation UtilityRPU – Return Preparation Utility• FVU – File Verification UtilityFVU – File Verification Utility

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Overview of the OLTAS, Overview of the OLTAS, ERACS & CGPLSERACS & CGPLS

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Overview of TIN SystemOverview of TIN System

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TDS Rate ChartTDS Rate Chart

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Form Numbers, Periodicity Form Numbers, Periodicity & Last Date of Submission & Last Date of Submission for eTDSfor eTDSAs per the Income Tax Act, 1961 [sections 200(3) and 206C] and the Income Tax

Rules, 1962 [rules 31A/31AA inserted vide notification S.O.455(E) dated March 30, 2005 and amended vide notification S.O.928 (E) dated June 30, 2005], forms for TDS/TCS statements (F.Y.2005-06 onwards) and periodicity thereof are as follows:

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What is eTDS?What is eTDS?

• eTDS stands for “Electronic Tax eTDS stands for “Electronic Tax Deducted at Source” introduced by Deducted at Source” introduced by the Income Tax Department on 26the Income Tax Department on 26thth August 2003 (See below).August 2003 (See below).

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To Whom does the eTDS To Whom does the eTDS Scheme apply?Scheme apply?• This applies to any person This applies to any person

deducting any sum as per the deducting any sum as per the provisions of Income Tax Act, provisions of Income Tax Act, 1961 on or after the 1st day of 1961 on or after the 1st day of April, 2005. This scheme April, 2005. This scheme concerns itself with the concerns itself with the deduction of tax at source and deduction of tax at source and its deposit to the Income Tax its deposit to the Income Tax Department.Department.

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What are the charging What are the charging sections?sections?• SECTION 200(3) – reference is SECTION 200(3) – reference is

made to the provisions of chapter made to the provisions of chapter XVII-B of the Income Tax Act, XVII-B of the Income Tax Act, 1961 and also to section 192(1A).1961 and also to section 192(1A).

• SECTION 206A(1) – reference is SECTION 206A(1) – reference is made to proviso to clause (i) of made to proviso to clause (i) of sub-section (3) of section 194A. sub-section (3) of section 194A. (Interest other than (Interest other than Interest on Securities).Interest on Securities).

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Why eTDs is necessary?Why eTDs is necessary?• Direct tax is an important source of revenue for Direct tax is an important source of revenue for

the government. A significant part of direct the government. A significant part of direct taxes is collected at the source of income by taxes is collected at the source of income by mandating the parties paying the income to mandating the parties paying the income to deduct tax at source (TDS) and deposit the same deduct tax at source (TDS) and deposit the same to Government account through a select list of to Government account through a select list of bank branches. bank branches.

• The most critical requirement for improving tax-The most critical requirement for improving tax-compliance is to have a tax regime where the compliance is to have a tax regime where the compliance is easy, transparent and painless and compliance is easy, transparent and painless and non-compliance is risky and costly. The tax non-compliance is risky and costly. The tax department is inundated with truckloads of department is inundated with truckloads of documents that the taxpayers file and handling documents that the taxpayers file and handling this paper mountain can become a breeding this paper mountain can become a breeding ground for inefficiency.ground for inefficiency.

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Initiative of the Income Tax Initiative of the Income Tax Department (ITD)Department (ITD)• In this background, Income Tax Department (ITD) In this background, Income Tax Department (ITD)

embarked on an initiative for the modernization of embarked on an initiative for the modernization of the current system for collection, processing, the current system for collection, processing, monitoring and accounting of direct taxes using monitoring and accounting of direct taxes using modern technology. Such modernization is modern technology. Such modernization is expected to enhance convenience in record expected to enhance convenience in record keeping and return preparation by the deductors keeping and return preparation by the deductors and reduce cost of compliance thus improving and reduce cost of compliance thus improving overall tax compliance. This will also reduce overall tax compliance. This will also reduce leakage of revenue, increase the tax base, leakage of revenue, increase the tax base, improve process efficiency & transparency, improve process efficiency & transparency, enable speedy reconciliation, enable faster enable speedy reconciliation, enable faster transfer of tax collected to Government coffers transfer of tax collected to Government coffers and facilitate data mining to identify trends and and facilitate data mining to identify trends and making projections.making projections.

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Implementation of eTDSImplementation of eTDS• ITD engaged National Securities Depository Limited ITD engaged National Securities Depository Limited

(which had proven experience in handling a (which had proven experience in handling a nationwide electronic transaction processing system) nationwide electronic transaction processing system) for establishing TIN. TIN is being established in for establishing TIN. TIN is being established in phases. In Phase I of TIN (three-year period phases. In Phase I of TIN (three-year period culminating in F.Y. 2004-05) OLTAS, ERACS culminating in F.Y. 2004-05) OLTAS, ERACS mentioned above have been successfully established.mentioned above have been successfully established.

• In Phase II (commenced in F.Y. 2005-06) all the three In Phase II (commenced in F.Y. 2005-06) all the three systems (OLTAS, ERACS, CPLGS) are integrated to systems (OLTAS, ERACS, CPLGS) are integrated to facilitate quarterly update of PAN ledger on the basis facilitate quarterly update of PAN ledger on the basis of the quarterly TDS/TCS statements. of the quarterly TDS/TCS statements.

• Phase II also includes filing of an AIR with respect to Phase II also includes filing of an AIR with respect to specified high value financial transactions by certain specified high value financial transactions by certain specified entities.specified entities.

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Furnishing of eTDS in Furnishing of eTDS in Electronic Format through Electronic Format through TIN-FCTIN-FC• Finance Act, 2003 amended section 206 of Income Tax Act, Finance Act, 2003 amended section 206 of Income Tax Act,

1961 to make it mandatory for corporate deductors to 1961 to make it mandatory for corporate deductors to furnish their TDS return in electronic form (e-TDS furnish their TDS return in electronic form (e-TDS returns). The scheme for furnishing electronic returns was returns). The scheme for furnishing electronic returns was notified by the Central Board of Direct Taxes (CBDT) vide notified by the Central Board of Direct Taxes (CBDT) vide Notification No. 205/2003 dated August 26, 2003.Notification No. 205/2003 dated August 26, 2003.

• Finance (No. 2) Act, 2004, further amended section 206 of Finance (No. 2) Act, 2004, further amended section 206 of the Income Tax Act, 1961, making it mandatory for the Income Tax Act, 1961, making it mandatory for government deductors also to furnish e-TDS returns from government deductors also to furnish e-TDS returns from F.Y. 2004-05. e-TDS returns are to be prepared in F.Y. 2004-05. e-TDS returns are to be prepared in accordance with the data structure (file format) specified accordance with the data structure (file format) specified by ITD.by ITD.

• Finance (No. 2) Act, 2004 also amended section 206C of Finance (No. 2) Act, 2004 also amended section 206C of the Income-tax Act to provide for mandatory filing of the Income-tax Act to provide for mandatory filing of returns of tax collection at source in electronic form (e-returns of tax collection at source in electronic form (e-TCS). Following the scheme for filing e-TDS returns TCS). Following the scheme for filing e-TDS returns notified in 2003, an "Electronic Filing of Returns of Tax notified in 2003, an "Electronic Filing of Returns of Tax Collected at Source Scheme, 2005" has also been notified. Collected at Source Scheme, 2005" has also been notified. It is mandatory for corporate and Government collectors of It is mandatory for corporate and Government collectors of tax at source to file e-TCS returns. Other entities have the tax at source to file e-TCS returns. Other entities have the option to do so. option to do so.

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Furnishing of quarterly Furnishing of quarterly eTDS/eTCS in Electronic eTDS/eTCS in Electronic Format through TIN-FCFormat through TIN-FC• As per section 200(3)/206C, as amended by As per section 200(3)/206C, as amended by

Finance Act 2005, deductors/collectors are Finance Act 2005, deductors/collectors are required to furnish quarterly TDS/TCS returns required to furnish quarterly TDS/TCS returns from F.Y. 2005-06 onwards. Quarterly TDS/TCS from F.Y. 2005-06 onwards. Quarterly TDS/TCS ‘returns’ hereinafter are referred to as ‘returns’ hereinafter are referred to as ‘statements’.‘statements’.

• Deductors/collectors furnishing their quarterly e-Deductors/collectors furnishing their quarterly e-TDS/TCS statements shall furnish the same to TDS/TCS statements shall furnish the same to TIN-FCs managed by NSDL which have been set TIN-FCs managed by NSDL which have been set up across the country to facilitate up across the country to facilitate deductors/collectors furnish their quarterly e-deductors/collectors furnish their quarterly e-TDS/TCS statements. The latest list of TIN-FCs is TDS/TCS statements. The latest list of TIN-FCs is available at the NSDL-TIN web-site www.tin-available at the NSDL-TIN web-site www.tin-nsdl.com. Deductors/collectors may also directly nsdl.com. Deductors/collectors may also directly furnish their quarterly e-TDS/TCS statements to furnish their quarterly e-TDS/TCS statements to NSDL through a web-based facility provided by NSDL through a web-based facility provided by NSDL at www.tin-nsdl.com.NSDL at www.tin-nsdl.com.

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Additional coverage under Additional coverage under eTDS/eTCSeTDS/eTCS• Vide Notification No. 238/2007 dated August 30, 2007 Vide Notification No. 238/2007 dated August 30, 2007

Rules 31A and 31AA of the Income-tax Rules, 1962 Rules 31A and 31AA of the Income-tax Rules, 1962 have been amended to provide that in addition to the have been amended to provide that in addition to the existing two categories, i.e. Government and Company, existing two categories, i.e. Government and Company, quarterly statements of TDS/TCS shall also have to be quarterly statements of TDS/TCS shall also have to be furnished electronically in the following cases:-furnished electronically in the following cases:-

• (i)(i) Where the deductor/collector is a person Where the deductor/collector is a person required to get his accounts audited under section required to get his accounts audited under section 44AB of the Income-tax Act in the immediately 44AB of the Income-tax Act in the immediately preceding financial year.preceding financial year.

• (ii)(ii) The number of deductees’/collectees’ records in The number of deductees’/collectees’ records in a quarterly statement for any quarter of the a quarterly statement for any quarter of the immediately preceding financial year is equal to or immediately preceding financial year is equal to or more than fifty.more than fifty.

• The above notification is with effect from September 1, The above notification is with effect from September 1, 2007. 2007.

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Modes of Furnishing of Modes of Furnishing of Quarterly e-TDS Quarterly e-TDS StatementsStatements

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Brief Particulars of the Brief Particulars of the format of the Text File / format of the Text File / FVUFVU• File Header Record (FH): File Header Record (FH): This is This is

the first line in the quarterly e-TDS/TCS statement the first line in the quarterly e-TDS/TCS statement file and contains details such as statement type file and contains details such as statement type (SL1 for Salary/NS1 for Non-salary for TDS and (SL1 for Salary/NS1 for Non-salary for TDS and TC1 for TCS), TAN of deductor/collector, date of TC1 for TCS), TAN of deductor/collector, date of creation of the e-TDS/e-TCS return.creation of the e-TDS/e-TCS return.

• Batch Header Record (BH): Batch Header Record (BH): This This contains particulars of deductor/collector, number contains particulars of deductor/collector, number of challan detail records, number of salary detail of challan detail records, number of salary detail records (only for salary statement – Form 24Q-records (only for salary statement – Form 24Q-Quarter 4).Quarter 4).

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Brief Particulars of the Brief Particulars of the format of the Text File / format of the Text File / FVU Part IIFVU Part II• Challan Detail Record (CD): Challan Detail Record (CD): This This

contains details of TDS/TCS deposited in the bank by contains details of TDS/TCS deposited in the bank by deductor/collector e.g. amount of TDS/TCS deposited, deductor/collector e.g. amount of TDS/TCS deposited, date of payment, bank where TDS/TCS deposited in date of payment, bank where TDS/TCS deposited in case of non-government deductors. Details of transfer case of non-government deductors. Details of transfer voucher like transfer voucher number, date in case of voucher like transfer voucher number, date in case of government deductors making payment through government deductors making payment through transfer vouchers. It will also contain the transfer vouchers. It will also contain the section/collection code under which tax has been section/collection code under which tax has been deducted /collected.deducted /collected.

• Deductee Detail Record (DD): Deductee Detail Record (DD): This This contains details of the transaction on account of which contains details of the transaction on account of which TDS/TCS was deducted /collected from deductee/party. TDS/TCS was deducted /collected from deductee/party. It includes name, PAN of deductee/collectee, gross It includes name, PAN of deductee/collectee, gross amount paid, TDS deducted/TCS collected.amount paid, TDS deducted/TCS collected.

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Brief Particulars of the Brief Particulars of the format of the Text File / format of the Text File / FVU Part IIIFVU Part III• Salary Detail Record (SD) : Salary Detail Record (SD) : This This

contains the details of salary, control total of contains the details of salary, control total of deductions under Section 16 and Chapter VI A. This deductions under Section 16 and Chapter VI A. This record type is mandatory in case of salary e-TDS record type is mandatory in case of salary e-TDS statement (Form 24Q) furnished in quarter 4 in case of statement (Form 24Q) furnished in quarter 4 in case of non-nil statements. Form 24Q for the first three non-nil statements. Form 24Q for the first three quarters will not contain salary detail records. Salary quarters will not contain salary detail records. Salary details for the entire year to be provided only in the details for the entire year to be provided only in the last quarter of the financial year. last quarter of the financial year. – Salary Details – Section 16 Detail* record contains details Salary Details – Section 16 Detail* record contains details

of standard deductions from salary (the total of which is of standard deductions from salary (the total of which is provided as part of Salary Detail record). provided as part of Salary Detail record).

– Salary Details – Chapter VI A Detail* record contains Salary Details – Chapter VI A Detail* record contains details of deductions under section 80CCE (total details of deductions under section 80CCE (total deductions under Sections 80C, 80CCC and 80CCD) and deductions under Sections 80C, 80CCC and 80CCD) and OTHERS (other deductions under Chapter VIA). OTHERS (other deductions under Chapter VIA).

* To be provided only if applicable.* To be provided only if applicable.

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What are the Sections, What are the Sections, their codes and what is their codes and what is covered therein?covered therein?

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General Notes on File General Notes on File Format Form 26QFormat Form 26Q

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Format of File Header Format of File Header (Regular Form 26Q)(Regular Form 26Q)

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Format of Batch Header Format of Batch Header (Regular Form 26Q)(Regular Form 26Q)

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Format of Batch Header Format of Batch Header (Regular Form 26Q) Part II(Regular Form 26Q) Part II

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Format of Batch Header Format of Batch Header (Regular Form 26Q) Part (Regular Form 26Q) Part IIIIII

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Format of Challan Detail Format of Challan Detail Record (Form 26Q Record (Form 26Q Regular)Regular)

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Format of Challan Detail Format of Challan Detail Record (Form 26Q Record (Form 26Q Regular) Part IIRegular) Part II

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Format of Challan Detail Format of Challan Detail Record (Form 26Q Record (Form 26Q Regular) Part IIIRegular) Part III

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Format of Challan Detail Format of Challan Detail Record (Form 26Q Record (Form 26Q Regular) Part IVRegular) Part IV

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Format of Deductee Detail Format of Deductee Detail (Form 26Q Regular)(Form 26Q Regular)

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Format of Deductee Detail Format of Deductee Detail (Form 26Q Regular) Part II(Form 26Q Regular) Part II

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Format of Deductee Detail Format of Deductee Detail (Form 26Q Regular) Part (Form 26Q Regular) Part IIIIII

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Example of Text File to be Example of Text File to be generated (Form 26Q generated (Form 26Q Regular)Regular)

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Procedure to be followed Procedure to be followed for filing eTDS Returns for filing eTDS Returns with TIN-FCwith TIN-FC• Generate the ASCII Text file using any Generate the ASCII Text file using any

competent software. (e.g. F26RQ3.TXT)competent software. (e.g. F26RQ3.TXT)• Submit the Text file through the FVU to Submit the Text file through the FVU to

generate the FVU File. (e.g. F26RQ3.FVU)generate the FVU File. (e.g. F26RQ3.FVU)• Write the FVU file generated onto a Write the FVU file generated onto a

CD/Floppy.CD/Floppy.• Print a copy of Form 27A relating to Print a copy of Form 27A relating to

submission. Get it signed by a person submission. Get it signed by a person authorised under ITD (e.g. Proprietor / authorised under ITD (e.g. Proprietor / Partner / Director / Trustee etc.).Partner / Director / Trustee etc.).

• Submit the CD along with the Form27A to Submit the CD along with the Form27A to nearest TIN-FC.nearest TIN-FC.

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Software Provided by ITD Software Provided by ITD for the preparation of the for the preparation of the FVUFVU• Earlier, ITD was providing MS Earlier, ITD was providing MS

Excel format for preparation of Excel format for preparation of the basic data for eTDS upto the basic data for eTDS upto July 2007 for Form 24Q, 26Q, July 2007 for Form 24Q, 26Q, 27Q, 27EQ.27Q, 27EQ.

• From August 2007, ITD has From August 2007, ITD has released Visual Basic (VB) based released Visual Basic (VB) based Return Preparation Utility Return Preparation Utility (Currently in version 1.60)(Currently in version 1.60)

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Important Websites for Important Websites for eTDSeTDS• http://www.tin-nsdl.cohttp://www.tin-nsdl.co

m/eTDSRPU.aspm/eTDSRPU.asp• http://www.akvs.org/http://www.akvs.org/• http://www.charteredihttp://www.charteredi

nfo.com/nfo.com/• http://www.cnergies.cohttp://www.cnergies.co

m/m/• http://www.fam-is.com/http://www.fam-is.com/• http://www.tdspac.comhttp://www.tdspac.com

//• http://www.etaxfile.nethttp://www.etaxfile.net

//• http://www.kdksoftwarhttp://www.kdksoftwar

e.com/e.com/• http://www.lakecitywehttp://www.lakecitywe

b.com/b.com/• http://http://

www.mashbra.comwww.mashbra.com//

• http://www.mcsinfosolhttp://www.mcsinfosolutions.com/utions.com/

• http://www.mdasoftwahttp://www.mdasoftwares.com/res.com/

• http://www.ensolindia.http://www.ensolindia.co.in/co.in/

• http://www.indiataxsolhttp://www.indiataxsolution.com/ution.com/

• http://www.pervsoft.cohttp://www.pervsoft.com/m/

• http://www.computaxohttp://www.computaxonline.com/nline.com/

• http://www.tdsmanagehttp://www.tdsmanager.com/r.com/

• Visit Visit http://www.tin-nsdl.cohttp://www.tin-nsdl.com/SWProviders.aspm/SWProviders.asp for a more detailed for a more detailed list.list.

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Steps for Data Preparation Steps for Data Preparation using RPUusing RPU1.1. Run the RPU Utility Run the RPU Utility 2.2. Selecting appropriate eTDS FormSelecting appropriate eTDS Form3.3. Select ‘Regular’ or ‘Correction’Select ‘Regular’ or ‘Correction’4.4. Click ‘Continue’ to enterClick ‘Continue’ to enter5.5. Enter the details of the concernEnter the details of the concern6.6. Enter Challan DetailsEnter Challan Details7.7. Enter Deductee DetailsEnter Deductee Details8.8. Click ‘Save’ to save data to Hard Disk Click ‘Save’ to save data to Hard Disk

/Pendrive/Pendrive9.9. Click ‘Create File’ to directly generate FVU Click ‘Create File’ to directly generate FVU

filefile10.10. Locate the FVU and write it to appropriate Locate the FVU and write it to appropriate

media (CD/FDD)media (CD/FDD)

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Running the RPU UtilityRunning the RPU Utility

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Selecting appropriate Selecting appropriate eTDS FormeTDS Form

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Select ‘Regular’ or Select ‘Regular’ or ‘Correction’‘Correction’

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Click to continueClick to continue

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Enter details of the Enter details of the concernconcern

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Enter Challan DetailsEnter Challan Details

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Enter Deductee DetailsEnter Deductee Details

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Click ‘Save’ to save data to Click ‘Save’ to save data to Hard Disk / Pen DriveHard Disk / Pen Drive

2

1

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Click ‘Create File’ to Click ‘Create File’ to directly generate FVU file directly generate FVU file (1)(1)

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Click ‘Create File’ to Click ‘Create File’ to directly generate FVU directly generate FVU file (2)file (2)

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Locate the FVU and write Locate the FVU and write it to appropriate media it to appropriate media (CD/FDD)(CD/FDD)

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Introducing Introducing VBA_eTDS_AY_0809.xlaVBA_eTDS_AY_0809.xla• What is VBA_eTDS_AY_0809.xla ?What is VBA_eTDS_AY_0809.xla ?• Steps to Manually Generate TXT file & Steps to Manually Generate TXT file &

Validate using FVU 2.116Validate using FVU 2.116• Why use VBA_eTDS_AY_0809.xla ?Why use VBA_eTDS_AY_0809.xla ?• What do I do if an error is generated What do I do if an error is generated

while using VBA_eTDS_AY_0809.xla ?while using VBA_eTDS_AY_0809.xla ?• Creating the Form 27A automatically.Creating the Form 27A automatically.• Generating the Form 16A Generating the Form 16A

automatically.automatically.• Other Utilities included with Other Utilities included with

VBA_eTDS_AY_0809.xla.VBA_eTDS_AY_0809.xla.

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What is What is VBA_eTDS_AY_0809.xla ?VBA_eTDS_AY_0809.xla ?• VBA_eTDS_AY_0809.xla is an Addin VBA_eTDS_AY_0809.xla is an Addin

to Microsoft Excel to Microsoft Excel (2000/2003/2007) which contains (2000/2003/2007) which contains various utilities and procedures various utilities and procedures meant to facilitate generation and meant to facilitate generation and maintenance of eTDS data across maintenance of eTDS data across quarters and across multiple quarters and across multiple Assessment Years.Assessment Years.

• It has been developed in-house by It has been developed in-house by CA Vikram S. Mathur.CA Vikram S. Mathur.

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Steps to Manually Steps to Manually Generate TXT file & Generate TXT file & Validate using FVU 2.116Validate using FVU 2.116• Enter the Deductor InformationEnter the Deductor Information• Enter the Challan DetailsEnter the Challan Details• Enter the Deductee DetailsEnter the Deductee Details• Optionally, maintain a list of Optionally, maintain a list of

Deductee’s seperately (for Deductee’s seperately (for repeated use of same deductees)repeated use of same deductees)

• Generate the TXT fileGenerate the TXT file• Validate using eTdS FVU 2.116Validate using eTdS FVU 2.116

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Ensure that theseUniformly refer to Form

26Q

TAN of the Concern should be mentioned in the name of the file,

should precede the Challan & Deductee sheet names

Ensure that the correct quarter,

year and financial year are selected

Ensure to enter as many acknowledgement numbers

as are applicable.

This is used later in

generating correction

statements.

E Tds Quarterly Data Preparation 0910

Business

Transcript of E Tds Quarterly Data Preparation 0910