Tax Information Network (TIN) Ver 1.0

111
NSDL TIN - For a better tomorrow 1 Tax Information Network (TIN) www.tin-nsdl.com

Transcript of Tax Information Network (TIN) Ver 1.0

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Tax Information Network (TIN)

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Contents Introduction

Before TIN was set up......

After TIN was set up…..

Components of TIN

Online Tax Accounting System (OLTAS)

Computerization of TDS functions

Generation of PAN Ledger

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Contents TIN - The Big Picture

Taxpayer Assistance E-payment of direct tax Status of challan NSDL RPU

Validating return using FVU

Preparation & Submission of e-TDS/TCS Statement

e-TDS/TCS Statements – Charges Key points

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Contents Feedback to deductor

Online views

Annual Tax Statement (Form 26AS)

New at TIN

Key performance parameters

Other facilities offered by NSDL under TIN

Contact details – NSDL

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Introduction

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Challenges of Tax Administration

Tax payers to file Income Tax returns every year

Income Tax returns are scrutinized by the Assessing officers To verify correct computation of tax and deposit thereof

Assessment primarily based on return and documents submitted by tax payers

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Hurdles faced by the department

Limitations of the Income tax process Lack of compliance by tax evaders

Not filing Income Tax returns Not paying taxes Not declaring information regarding total income

Compliance – painful process for genuine taxpayers

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Strategies adopted by the department

Third party deduction of tax (TDS)

Third party reporting of income (TDS) and expenditure (one in six)

Intrusive investigation

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Before TIN was set up......

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Concerns for the department

TDS in paper form - Maintenance and storage of paper returns for deductor, deductee as well as the department

Reconciliation and verification of information of TDS deducted and actually deposited

Loss of revenue to Government

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After TIN was set up......

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TIN Project

Director General of Income Tax (Systems) was designated as e-TDS Administrator

NSDL declared as e-TDS Intermediary for Collection and consolidation of TDS returns, tax

payment challans & AIR to the central system

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TIN - Purpose Integrate primary information of tax collection

Record keeping

Dissemination and retrieval

Ensure tax credit against tax received in Government account

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TIN- Benefits

Convenience in record keeping and filing of TDS returns

Reduced cost of compliance for tax payers Reduction in leakage Increase in tax base Improvement in process efficiency and transparency Enables speedy reconciliation Faster transfer of tax collected to Government Data mining for trends and projections

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Online Tax Accounting System (OLTAS)

Computerization of TDS functions

Generation of PAN Ledger

Components of TIN

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Online Tax Accounting System(OLTAS)

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TDS deducted by deductor is deposited by them into the Government account through the designated banks and its branches

Payment of TDS to the bank is made vide a challan

Banks accept the payment and issue counterfoil of challan as proof of payment received to the deductor

OLTAS

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Upload of Tax Deposit details by banks to TIN Central System who paid, how much, through which instrument

Facilitates verification of Tax Deposit as claimed in TDS and IT

returns

OLTAS

Bank branch Nodal BranchTax Deposit Link Cell

RBI

Funds

Cha

llan

Info

rmat

ion

Tax Collecting Banks

TDS/IT

Online

OR

Physical

TIN- NSDL

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Each challan uniquely identified by Challan Identification Number (CIN) Challan serial no. Bank Branch code (BSR code) Challan Tender date

CIN provided by bank to every tax payer/deductor on deposit of tax

OLTAS

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Receipt of tax payment information within 3 days

Central database containing tax payment information

Reconciliation with RBI

Facility to taxpayers to view their payment information online

Benefits of OLTAS

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Computerization of TDS functions

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E-TDS return Rationalization of forms –16 forms consolidated to

three forms Periodicity for filing returns made from Annual to

Quarterly Electronic filing mandatory for

Corporate deductors Government deductors Deductors required to get their accounts audited u/s 44

AB of Income Tax Act Deductors having 20 or more deductee records

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E-TDS return

Minimum level of quoting PANs in the TDS return specified

Necessary amendments in Chapter XVII-B of Income Tax Act Rules 31A and 31AA of Income Tax rules

Higher rate of TDS if PAN of deductee not quoted in TDS return

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E-TDS return

Open File format – clearly defined file format for preparation of returns in ASCII format

File Validation – Platform independent File validation utility (FVU) to ensure Correct format of return Return meets the prescribed validations

Return preparation utility – Free return preparation utility made available by TIN

Deductor can use any RPU for preparation of return

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Acceptance of TDS returns

Online and offline facility to deductors for preparing and submitting electronic return

Deductor

Tax Collecting Bank

TDS

Online

Facilitation Centre

E-TDS Return

TIN- NSDL

ERACS

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Acceptance of TDS returns

Direct upload of returns using Internet Returns digitally signed by deductor Digital Signature Certificate (Class II or III)

Returns submitted at TIN-FCs Returns in computer media Authentication of submission in summary sheet (Form

27 A) signed by deductor

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Generation of PAN Ledger

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Generation of PAN Ledger

Matching of challan information in the TDS returns with the corresponding information from OLTAS

Generation of PAN Ledger for all PANs in the return provided Challan information in return matches information in

OLTAS PANs are provided in the return are valid and present

in the PAN Master database.

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Feedback to Taxpayer Deductor could verify whether

Banks have correctly uploaded data of challans deposited by them

TDS returns filed by them have been successfully uploaded to the central system

Details of deposits of TDS in the returns have matched with corresponding data in OLTAS

Annual Tax Statement of taxpayers (deductees) have been correctly booked

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Viewing Annual Tax Statement online

Limited password based online access to deductees To view their Annual Tax statement online To verify whether Tax credits due to them are correctly

reflecting in the Annual Tax statement

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TINThe Big Picture

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DEDUCTORDEDUCTOR TAX PAYERTAX PAYER

ERACSTIN - FCTIN - FC

DIRECTUPLOADDIRECTUPLOAD

OLTAS(BANKS)

OLTAS(BANKS)

CPLGSCPLGS

TIN VIEWSTIN VIEWS

DEDUCTOR VIEW(RETURN STATUS)DEDUCTOR VIEW(RETURN STATUS)

TAX PAYER VIEW (26AS)

TAX PAYER VIEW (26AS)

TDS/TCS

RETURN

TAXTAX (TDS/TCS)

RETURN CHALLA

N

STATUS

FILERFILER

AIR

ITD VIEW ITD VIEW

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Taxpayer Assistance

Stakeholder Education Information dissemination through websites

www.incometaxindia.gov.in www.tin-nsdl.com

Deductor’s manual for providing guidance on procedures

Focused Awareness Seminars for deductors Special training programs for Tax practitioners to

create and spread awareness

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HOME PAGE-TIN WEBSITE

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E-payment of direct tax

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E-payment of direct tax

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E-payment of direct tax

This challan should be used for deposit of TDS/TCS

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E-payment of direct tax

Provide these details correctly. Banks do not have authority to rectify errors in these fields

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E-payment of direct tax

E-payment of taxes to be done through your net banking account

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OLTAS-Challan Status Enquiry

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OLTAS-Challan Status Enquiry

Enter challan details as provided in the challan counterfoil given by the bank

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OLTAS - Challan Status Enquiry

Check status of challans deposited before preparing TDS statement

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Challan Status Enquiry

Details of Challans deposited for given period can be viewed online

Download the challan file and verify the challan details in the statement through FVU

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Challan Status Enquiry

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Status of challan Online challan status track SMS based

Send SMS to 575758 SMS to contain

the word CSI followed by space and CIN (BSR code, tender date, challan serial no.)

amount is optionalCIN and amount should be comma separated

Eg. CSI 0510001,11032009,5,5000 Status will display

TAN / PAN Whether amount matched or notReceived in TIN (date)

SMS charges may vary from one service provider to another

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NSDL RPU

Select the Form No for which statement needs to be prepared

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NSDL RPU

Select the type of statement (Regular or correction) to be prepared and click to continue

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Enter deductor details

Provide updated email id or contact phone no.

Fields marked * are mandatory fields

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Enter challan details – details of taxes paid

Select relevant section code

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Enter challan details – details of taxes paid

Mention Yes if you are a Government deductor and tax is not deposited in the bank through a challan

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Enter challan details – details of taxes paid

Challan details should be as provided by the bank (Verify challan status uploaded by bank before preparing statement

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Enter deductee details (Annexure I)

Select relevant challan serial no

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Enter deductee details (Annexure I)

Details of selected challans will be automatically displayed in the fields highlighted in grey

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Enter deductee details (Annexure I)

Sequence of serial no. of deductee records should be different for each challan

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Enter deductee details (Annexure I)

Provide valid PAN of deductees

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Enter deductee details (Annexure I)

Total tax deposited should be greater than or equal to total tax deducted

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Enter salary details (Annexure II – Form 24Q)

Provide valid PAN of employees

Enter salary details for the entire Financial Year

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Enter salary details for the entire Financial Year

Enter salary details (Annexure II – Form 24Q)

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To save the intermediary file, select the option ‘Save’. This file can be reopened for further processing by using the ‘Open’ through RPU.

To create ‘.txt’ file, you have to click ‘Create File’

Enter salary details (Annexure II – Form 24Q)

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Verify challan details by providing path of challan details downloaded from the TIN website (.csi file)

Enter salary details (Annexure II – Form 24Q)

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Provide path where output file/error file to be generated and click on Validate

Enter salary details (Annexure II – Form 24Q)

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Validating return using FVU

FVU is integrated with the NSDL RPU Returns prepared using NSDL RPU will be

validated through FVU on clicking ‘Create File’ On successful validation .fvu and .txt file will be

generated In case of failure of validation error file and .txt

file will be generated

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Preparation of e-TDS/TCS statement – Validations Validate TDS/TCS statement using File Validation Utility –

FVU (Latest version on NSDL website – www.tin-nsdl.com) In case of valid TDS/TCS file FVU will generate the

following: .fvu file (validated file to be submitted to TIN-FC) Statement statistic report (contains summary of statement) Deductee PAN statistic report (contains details of invalid deductee

PAN in statement)

In case of invalid TDS/TCS file, error file will be generated. Rectify the error and re-validate through FVU

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Preparation of e-TDS/TCS statement – Validations

Provide path where output file/error file to be generated and click on Validate

Verify challan details by providing path of challan details downloaded from the TIN website (.csi file)

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Back

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Submission of e-TDS/TCS Statement Submit TDS / TCS statement

Regular.fvu file in CD / floppy Physical Form 27A

Correction.fvu file in CD / floppy Physical Form 27AStatistic report in physicalPhoto copy of Provisional receipt of regular statement

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TDS/TCS Forms & Periodicity

Form No. Description Periodicity Due Date

24Q For salary deduction

Quarterly For first three quarters: within 15 days from end of quarter. For last quarter: upto 15th May in the succeeding F .Y.

Q1 – 15th July Q2 – 15th OctoberQ3 – 15th January Q4 – 15th May

26Q For non-salary deduction (Rent , Contractor etc.)

27Q For deduction on payment to non-salary non-resident

27EQ Collection of TCS on sale Timber, scrap etc

Quarterly For first three quarters: within 15 days from end of quarter. For last quarter: upto 15th May in the succeeding F.Y.

27A With each e-TDS/TCS statement in physical form.

Quarterly (From FY 2005-06 onwards)

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e-TDS/TCS Statements - Charges

No. of records Upload fee (`.)*

Upto 100 30

101 to 1000 182

More than 1000 606

*Inclusive of taxes

No charge for statement not accepted.

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Check status of challans before preparation of

TDS statement – regular/correction

Save .fvu file of all TDS/TCS statements filed

Preserve all Provisional Receipts (PRN)

e-TDS/TCS Statements – Key points

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File correction return to make changes in the TDS /TCS return filed (regular) Remove deficiencies/inconsistencies in the TDS/TCS

return filed

Correction return can be filed only if ‘original’ return is accepted in TIN

Check status of return prior to filing correction return

e-TDS/TCS Statements – Key points

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Feedback to Deductors

Online views Non filer letters Inconsistency letters

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Online Views

Challan Status Enquiry

Quarterly Statement Status

Refund Status

Annual Tax Statement (Form 26AS)

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Quarterly Statement Status

Status displayed on the basis of TAN & Provisional Receipt number.

Following details can be viewed: Whether statement has been uploaded to TIN central system by TIN-

FC Status of statement at TIN (accepted / rejected) Status of challan (booked / unmatched) Number of deductees whose PAN accounts have been booked. Line no. of deductees in statements whose PAN accounts could not be

booked. Confirm whether a specific PAN account has been booked.

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Quarterly Statement Status

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Quarterly Statement Status

Provide TAN and PRN of statement for which status needs to be viewed

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Quarterly Statement Status

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Quarterly Statement Status

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Quarterly Statement Status

If challan status is Match pending or Match failed, deficiencies in the statement to be rectified vide correction statement

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Quarterly Statement Status

Status of deductee whether booked or not can be verified by providing PAN and amount deducted

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Refund Status

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Refund Status

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Form 26AS is a consolidated tax statement issued under Rule 31 AB of Income Tax Rules.

Form 26AS with respect to a financial year includes details of:

All tax deducted at source (TDS);

All tax collected at source (TCS); and

All advance tax/self assessment tax/regular assessment tax /Fringe Benefit Tax etc., deposited in the bank by the taxpayers (PAN holders).

Annual Tax Statement (Form 26AS)

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Benefits of Form 26ASPAN holder can verify the following:

TDS / TCS has been deposited to the Government account

Deductor/collector has accurately filed the TDS/TCS statement giving details of the tax deducted/collected on the deductees behalf

Bank has properly furnished the details of tax (e.g. Advance Tax, Self-assessment Tax etc.) directly deposited by the tax payer

Consolidated tax statement (Form 26AS) as a proof of tax deducted/collected

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Form 26AS

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TIN - For a better tomorrow

Form 26AS

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Form 26AS

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Views for Tax Payers- Form 26AS – addition of refund (paid) details

Refund (paid) details from FY 2009-10 (AY 2010-11) onwards

E.g. refund for FY 2005-06 received in FY 2009-10

Following details will be displayed: -

AY for which refund is paid

Mode of payment – ECS, paper(cheque) etc

Amount of refund

Date of payment

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Views for Tax Payers- Form 26AS –addition of refund (paid) details

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•Registration at TIN website (www.tin-nsdl.com)

• Successful Registration-Acknowledgment Slip will be

displayed

•Verification and Authorization by TIN-FC

Verification mode PAN holder to visit TIN-FC – ` 15* TIN-FC to visit PAN holder – ` 100*

* Rates are exclusive of applicable service tax

Registration for view of Form 26AS

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Proof of Identity

Individual: PAN Card in original with a copy

HUF: PAN Card of HUF and PAN Card of Karta

Non-individual/HUF:

1. PAN Card in original with a copy

2. Authority Letter

3. PAN Card of Authorized Individual

Status of registration available on NSDL website

Three days after authorization Form 26AS can be viewed online

Verification & Authorization

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Online TAN registration Consolidated TDS/TCS statement Download of Form 26AS View of Form 26AS through Net banking

Citibank N.A. Corporation Bank IDBI Bank Ltd. Indian Overseas Bank State Bank of India State Bank of Mysore Union Bank of India

New at TIN

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View of Form 26AS from e-filing portal of ITD

Eight digit receipt number for TDS/TCS regular

statement

Monthly statement – Form 24G to be filed by PAO

New at TIN

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Online TAN registration

Register your TAN on NSDL TIN website www.tin-nsdl.com

Login to the website after successful registration and receipt of user id, password

Request for consolidated quarterly TDS/TCS statement on login

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Online TAN registration

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Online TAN registration

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Online TAN registration form

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Enter relevant details. Fields marked * are mandatory

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Online TAN registration form

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Enter details of accepted regular statement for verification

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Consolidated TDS/TCS statement

Deductors who have registered their TAN online can request for consolidated TDS/TCS statement

Consolidated FVU files is available for TDS/TCS statements pertaining to F.Y. 2007-08 and onwards.

TDS/TCS statement (consolidated) provided by TIN will include all the updates done vide correction statements (accepted at TIN central system) filed by deductor/ collector.

Consolidated statement will be sent to the deductor via email within 24 hours of placing request

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Contents of Consolidated TDS/TCS statement

Details as per latest statement: Updated details of deductor/challan/deductee/salary records will be provided.

Challan matching flag: Challan matching flag which indicates the status of challan / transfer voucher ‘M’ – Matched, ‘U’ – Unmatched, ‘P’ – Provisionally booked.

No updates should be carried out on challans/transfer voucher with status ‘M’ or ‘P’.

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Contents of Consolidated TDS/TCS statement

Expected record no. for challan/deductee/ salary detail record to be quoted in subsequent correction statement. This has been incorporated to facilitate quoting record number in

sequence for added records in correction statements

Example There are 5 challans in regular statement which is accepted at TIN.

                          1 challan is added by furnishing correction statement which is

rejected at TIN. 2 challans added by furnishing another correction statement which is

accepted at TIN.  If one more challan is to be added vide another correction statement,

sequence number of the expected challan record in the consolidated e-TDS / TCS statement will be 8.

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Contents of Consolidated TDS/TCS statement

Provisional receipt number (PRN): In correction statement, deductor/collector is required to quote PRN as under to identify the statement in TIN central system for update: Corresponding regular statement Latest accepted/partially accepted correction statement

To facilitate the deductor/collector in quoting correct PRN of Regular and Correction statement, same is provided in the consolidated TDS/TCS statement.

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Download of Form 26AS

Form 26AS can be downloaded in text form (carat separated) from the TIN website

Facility to download is available on the ‘View Tax Credit’ screen

Benefits of this facility Downloaded form 26AS can be used for preparation of

Income Tax return

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Form 26AS – download of text file

Form 26AS can be downloaded in text format (carat separated .txt file) by clicking here

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Eight digit receipt number

Eight digit receipt number will be issued for statements filed pertaining to FY 2010-11 and onwards

Deductor has to quote this receipt number on the TDS certificates provided to the deductees.

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Form 24G – electronic TDS/TCS Book Adjustment Statement (e-TBAS)

Monthly statement To be filed by Pay and Accounts Office of

Government departments (PAO/DTO/CDDO) Where tax is transferred vide book entry (transfer

voucher) To be filed in electronic form Accounts Office Identification Number (AIN) is

mandatory for preparation of Form 24G

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Procedure for allotment of AIN

Duly filled and signed AIN application form to be forwarded by PAO/DTO/CDDO to Jurisdictional CIT (TDS)

CIT (TDS) to verify and forward the application to NSDL

NSDL to allot AIN and send AIN allotment letter to PAO/DTO/CDDO

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Preparation of Form 24G

Open File format – clearly defined file format for preparation of returns in ASCII format

File Validation – Platform independent File validation utility (FVU) to ensure Correct format of return Return meets the prescribed validations

Return preparation utility – Free return preparation utility made available by TIN

PAO/DTO/CDDO can use any RPU for preparation of return

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Key performance parameters – Increase in compliance w.r.t filing TDS/TCS statements

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Notes: Due date for filing Q4 of FY 2009-10 was June 15, 2010

Counts are as on July 26, 2010

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Key performance parameters – Increase in compliance w.r.t quoting of deductee PAN

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Notes: Due date for filing Q4 of FY 2009-10 was June 15, 2010

Counts are as on July 08, 2010

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Key performance parameters – Generation of Form 26AS

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Notes: Due date for filing Q4 of FY 2009-10 was June 15, 2010

Counts are as on July 26, 2010

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Other facilities offered by NSDL under TIN

Acceptance of Annual Information Return Acceptance and processing of PAN / TAN

applications

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Contact us at

TIN Call Centre (TCC)

National Securities Depository Limited

3rd Floor, Sapphire Chambers

Near Baner Telephone Exchange

Baner,

Pune – 411 045.

Tel: 020 – 2721 8080

Fax: 020 – 2721 8081

Email: [email protected]

Website: www.tin-nsdl.com111

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