Gsoftnet

5 Easy Steps to make e-TDS/TCS Return Online or Offline.

The data structure (file format) in which the e-TDS / e-TCS return is to be prepared has been notified below:
Quarterly Return :
For Regular Statements pertaining to FY 2010-11 onwards:
For Regular Statements up to FY 2009-10
For Correction statements pertaining to FY 2010-11 onwards:
For correction statements up to FY 2009-10:
Step : 2

e-TDS/e-TCS return in accordance with the file formats is to be prepared in clean text ASCII format with 'txt' as filename extension. e-TDS/e-TCS return can be prepared using in-house software, any other third party software or the NSDL e-TDS Return Preparation Utility .
Sample files prepared as per the file formats given below for reference.
Quarterly Return :
For statement pertaining to FY 2010-11 onwards:
For statement upto FY 2009-10
Step: 3

Once the file has been prepared as per the file format, it should be verified using the File Validation Utility (FVU) provided by NSDL.

* FVU for Quarterly Returns: e-TDS / e-TCS returns prepared upto FY 2009-10 (i.e. Forms 24Q, 26Q, 27Q and 27EQ) can be validated using this utility.

* FVU for Quarterly Returns: e-TDS / e-TCS returns prepared for FY 2010-11 and onwards (i.e. Forms 24Q, 26Q, 27Q and 27EQ) can be validated using this utility.

Step : 4

In case file has any errors the FVU will give a report of the errors. Rectify the errors and verify the file again through the FVU. 

Step : 5

The upload file generated by the FVU on successful validation is to be furnished to a TIN-FC or directly uploaded through the NSDL web-site.
Quarterly Returns:
Each e-TDS/TCS return saved in a CD/Pen Drive to be submitted along with a signed copy of the control chart (Form 27A).

How to apply for New PAN?

With effect from April 8, 2012, PAN applications are required to be furnished in the new forms prescribed by ITD. Indian citizens will have to submit their ‘Application for allotment of new PAN’ in revised Form 49A only. Foreign citizens will have to submit their ‘Application for allotment of new PAN’ in newly notified Form 49AA only.

With effect from April 1, 2012, fees for PAN application has changed to 96. (For dispatch outside India 962).

For New PAN applications, in case of Individual and HUF applicants if Address for Communication is selected as Office, then Proof of Office Address along with Proof of residential address is to be submitted to NSDL w.e.f. applications made on and after 1st November 2009.

As per RBI guidelines, the entities making e-commerce transactions are required to provide PIN (Personal Identification Number) while executing an online transaction. Accordingly, before making payment for online PAN/TAN applications using credit/debit card, please ensure that the PIN is obtained from your respective Banks.

Application for allotment of New PAN (Form 49A) – applicable for Citizens of India
This form should be used when the applicant has never applied for a PAN or does not have PAN allotted to him. An applicant can visit Income Tax Department (ITD) website to find whether a PAN has been allotted to him or not.
 
Application for allotment of New PAN (Form 49AA) – applicable for foreign citizens
This form should be used when the applicant has never applied for a PAN or does not have PAN allotted to him. An applicant can visit Income Tax Department (ITD) website to find whether a PAN has been allotted to him or not.
 
Reprint of PAN Card
This application should be used when PAN has already been allotted to the applicant but applicant requires a PAN card. A new PAN card bearing the same PAN is issued to applicant.
While filling this form, applicant should not select any of the check boxes on the left margin of the form. However, the check box for Item no. 7. Address for communication will be selected by default as this address will be updated in the records of ITD.
 
Change/Correction in PAN Data
This application should be used when PAN has already been allotted to the applicant but applicant wants to make change/correction in PAN data. A new PAN card bearing the same PAN with updated details will be issued to applicant.

Appropriate check boxes in front of the relevant core details (i.e. name, father’s name, date of birth) should be selected, in order to update the details.

Download all in One TDS (Form-16) Software for Salaried Employee for Asstt. Year 2014-15.

Employment income tax is a tax on the earnings of an employee. The government collects this tax from any individual employees, other than contractors, engaged whether on a permanent or temporary basis to perform services under the direction and control of the employer. Employment income includes any payment or gain in cash or in kind received from employment by the employee.  To determine the tax to be withheld, the employer may use a simple calculation method.  For correct calculation the following utility helps all Salaried Employee.

This utility calculates Tax Liability, House Rent Allowances Exemption, Tax Relief u/s. 89(1) and automatically generates Monthwise Salary Statement, Form 10E and Form 16 with Part "A" and "B" as well as Part "B" for Assessment Year 2014-15.  The utility calculate an amount of tax due based upon the amounts that are entered.  It provides us all the taxable entities must file a report, even if no tax is due.  This utility is developed by my friend Mr. Pranab Banerjee.

This Software is based on Income Tax circular dated 10.10.2013 which is issued by Income Tax Department for  Assessment Year 2014-15.

Remember: Download facility are available for all but Installation and Key features are available only for those who is registered with us alongwith activation.
Process of Free Registration: Simply Click Here and entered your Email ID and followed procedure to subscribe.
How & Where check Activation Link: Open your Mail Box, there is a link of Activation Click There.


Physical Requirements:
  • OS required Windows-2000, XP, Vista, Windows-7, Windows-8 etc.
  • Min. MS Office-7 or Above Version
  • Printing Facility Provides on Inkjet or Ledger Printer
  • Required Standard A4 Size Paper Sheets.
Data Entry:
  • Only  "Yellow" Cells are provide for input data.
  • Press Mouse Buttons for operation which you like
Key Features:
  • It maintain Each Employee Data.
  • It Calculate Gross Income as per current D.A. Rates automatically as per Government D.A. Rates.
  • It Provides Facility to Enter Data Manually along with all Arrears etc.
  • It Calculate Tax Liability.
  • It Display Monthwise Salary Statement for Asstt. Year 2013-14.
  • It Generate TDS Certificate (Form 16) Automatically with Annexure "A & B" and "B".
  • It Calculate Arrears Tax Relief u/s. 89(1)
  • It Calculate House Rent Allowances. 
Free Download link will be provided through SMS to only registered email at www.gsoftnet.blogspot.com Request can be done by email at ieasypoint@gmail.com or gsoftnet@rediffmail.com (with your activate Mobile No.)
    Remember: Download facility are available for all but Installation and Key features are available only for those who is registered with us alongwith activation.
    Process of Free Registration: Simply Click Here and entered your Email ID and followed procedure to subscribe.
    How & Where check Activation Link: Open your Mail Box, there is a link of Activation Click There.

    Requirement of Software:-
    Microsoft Office Excel-2007 or greater is required for running this software.

    How to Install :-
    Simply download zip file and run.

    How to use :-
    • Enter Employee data in only "EmployeeData" Tab.
    • Enter Monthwise Salary Data in "Salary Data Entry" Tab.
    • Enter personal deducations in "Tax Plan" Tab.
    Features :
    • It Calculate Tax and Refund (if, any) & Suggest to Deduct Tax Amount For Nest 3 Months (TDS) for Male, Female, Sr. Citizen.
    • Generate Monthwise Salary Statement
    • Generate Form 16 with Annexure "A" or "B" whichever applicable.
    • Save Information of All Taxpayee.
    Facility :
    • A4 Size Printing Format.
    Download Now (Click Here)

    Free Download link will be provided through SMS to only registered email at www.gsoftnet.blogspot.com Request can be done by email at ieasypoint@gmail.com or gsoftnet@rediffmail.com (with your activate Mobile No.)
    - See more at: http://gsoftnet.blogspot.in/2011/12/free-download-tax-calculation-form-16.html#sthash.8jmHrxRm.dpuf
    Remember: Download facility are available for all but Installation and Key features are available only for those who is registered with us alongwith activation.
    Process of Free Registration: Simply Click Here and entered your Email ID and followed procedure to subscribe.
    How & Where check Activation Link: Open your Mail Box, there is a link of Activation Click There.

    Requirement of Software:-
    Microsoft Office Excel-2007 or greater is required for running this software.

    How to Install :-
    Simply download zip file and run.

    How to use :-
    • Enter Employee data in only "EmployeeData" Tab.
    • Enter Monthwise Salary Data in "Salary Data Entry" Tab.
    • Enter personal deducations in "Tax Plan" Tab.
    Features :
    • It Calculate Tax and Refund (if, any) & Suggest to Deduct Tax Amount For Nest 3 Months (TDS) for Male, Female, Sr. Citizen.
    • Generate Monthwise Salary Statement
    • Generate Form 16 with Annexure "A" or "B" whichever applicable.
    • Save Information of All Taxpayee.
    Facility :
    • A4 Size Printing Format.
    Download Now (Click Here)

    Free Download link will be provided through SMS to only registered email at www.gsoftnet.blogspot.com Request can be done by email at ieasypoint@gmail.com or gsoftnet@rediffmail.com (with your activate Mobile No.)
    - See more at: http://gsoftnet.blogspot.in/2011/12/free-download-tax-calculation-form-16.html#sthash.8jmHrxRm.dpuf
    Remember: Download facility are available for all but Installation and Key features are available only for those who is registered with us alongwith activation.
    Process of Free Registration: Simply Click Here and entered your Email ID and followed procedure to subscribe.
    How & Where check Activation Link: Open your Mail Box, there is a link of Activation Click There.

    Requirement of Software:-
    Microsoft Office Excel-2007 or greater is required for running this software.

    How to Install :-
    Simply download zip file and run.

    How to use :-
    • Enter Employee data in only "EmployeeData" Tab.
    • Enter Monthwise Salary Data in "Salary Data Entry" Tab.
    • Enter personal deducations in "Tax Plan" Tab.
    Features :
    • It Calculate Tax and Refund (if, any) & Suggest to Deduct Tax Amount For Nest 3 Months (TDS) for Male, Female, Sr. Citizen.
    • Generate Monthwise Salary Statement
    • Generate Form 16 with Annexure "A" or "B" whichever applicable.
    • Save Information of All Taxpayee.
    Facility :
    • A4 Size Printing Format.
    Download Now (Click Here)

    Free Download link will be provided through SMS to only registered email at www.gsoftnet.blogspot.com Request can be done by email at ieasypoint@gmail.com or gsoftnet@rediffmail.com (with your activate Mobile No.)
    - See more at: http://gsoftnet.blogspot.in/2011/12/free-download-tax-calculation-form-16.html#sthash.8jmHrxRm.dpuf

    Issue of Default Demand for e-TDS/TCS return 24Q4 by TRACES.


    Quarterly statement of deduction of tax under sub section (3) of section 200 of the Income tax Act, 1961 in respect of Salary for the quarter ended June/September/December/March i.e. 24Q1, 24Q2, 24Q3 and 24Q4.  Every person, being a person responsible for deducting tax under Chapter XVII-B shall, in accordance with the provisions of sub-section (3) of section 200, deliver or cause to be delivered to the prescribed income-tax authority or to the person authorized by such authority, quarterly statement which is in Form No. 24Q in respect of deduction of tax at source under sub-sections (1) and (1A) of section 192.

    A new Demand Notice for the Assessment Year 2012-13 issued by Income Tax Department to Taxpayees' on the basis of incorrect TDS Return.  On inquiry, it is found that this demand has been raised mainly due to Technical errors of TRACES.   I mean to say, PAN numbers already corrected in 24Q4 return through submission of correction return.  But tdscpc.gov.in still showing wrong pan numbers (which have already been corrected through correction return and accepted by TRACES)  marking in Red Color and have charged maximum of tax between 20% or Tax Slab charged on employee.   This percentage has been calculated on taxable amount of the each employee.

    Secondly, major error was that TRACES has shown wrong Category of employee.  Deductor had entered  category of employee as Women and demand notice has been issued  assuming the same employee as Male. 

    Finally It has been decided that deductor should check their record deeply and should not pay any demand notice without his satisfaction.  However justification report is also not satisfactory report till date.

    Free Download Latest e-Tds/TCS Return "RPU" and "FVU" utility for Asstt. Year 2014-15

    These utilities have been developed by NSDL for small deductors/collectors and returns exceeding 20,000 deductee records should not be prepared using this utility. NSDL does not warrant any accuracy of the output file generated using any of these utilities. All users are advised to use latest FVU and check the format level correctness of the file before submitting the same to TIN-FC. In case FVU reports any error in the file, then the users are advised to rectify the same. Further, deductors/collectors are advised to ensure that the e-TDS/TCS returns are filed before the last date specified by Income Tax Department. Non-functioning or non availability of this utility may not be considered as a reason for inability to file the return before the last date.

    NSDL has developed software called e-TDS/TCS Return Preparation Utility (RPU) to facilitate preparation of e-TDS/ TCS returns. This is a freely downloadable VB based utility. Separate utilities are available for preparation of each type of return.

    RPU for Quarterly Returns:
    TDS/TCS returns have to be filed every quarter (i.e. quarterly statements); however, as advised by Income Tax Department, acceptance of TDS/TCS statements pertaining to Financial Years prior to 2007-08 has been discontinued at TIN. The following utilities can be used to prepare regular quarterly statements:

    Correction Statements:
    Corrections required in the regular quarterly statements can be furnished by submitting a correction statement in the prescribed format. The following utilities can be used to prepare correction quarterly statements:

    Users must pass the e-TDS/ TCS return file generated using RPU through the File Validation Utility (FVU) to ensure format level accuracy of the file. This utility is also freely downloadable from NSDL TIN website. In case the e-TDS/TCS return contains any errors, user should rectify the same in the excel utility itself. After rectifying the errors, user should pass the rectified e-TDS/ TCS return through the FVU. This process should be continued till an error free e-TDS/ TCS return is generated.

    e-TDS /TCS returns prepared for FY 2007-08 and onwards (i.e. Forms 24Q, 26Q, 27Q and 27EQ) can be validated using this utility.
    The e-TDS/TCS FVU setup file (e-TDS/TCS FVU.exe) comprises of three files namely:
    • TDS FVU Readme.rtf: This file contains instructions for setup of the e-TDS FVU.
    • e-TDS FVU Setup.exe: This is a setup program for installation of FVU.
    • These files are in an executable zip file. These files are required for installing the e-TDS/TCS FVU.
    FVU for quarterly e-TDS/TCS statement pertaining to FY 2010-11 onwards

    FVU for quarterly e-TDS/TCS statement up to FY 2009-10

    Extraction of e-TDS/TCS FVU
    • To extract these files, double-click on 'e-TDS FVU.exe'.
    • A 'WinZip Self-Extractor - e-TDS FVU.exe' will open.
    • By default, the path selected for extraction of the three files will be 'C:\e-TDS FVU'.
    • The files can also be extracted in any other location (other than C:\e-TDS FVU). In that case, the appropriate path has to be defined by clicking the 'Browse' button where the three files should be extracted.
    • Thereafter, click on 'Unzip' button.
    • On clicking the 'Unzip' button, the three files mentioned above will get extracted to the specified path (i.e. in folder 'C:\ e-TDS FVU' by default or at the specified path).
    Installation of e-TDS/TCS FVU
    The e-TDS/TCS FVU can be setup as per the procedure mentioned in the 'e-TDS FVU Readme.rtf' file (one of the three files extracted).

    Running the FVU
    The procedure to run FVU is given in the Readme button on the window opened by clicking e-TDS/TCS FVU icon.

    How to Renewal or Updation of Digital Signature Certificate (DSC) ?

    When Digital Signature Certificate of organization expires or organization want to change the DSC, then organization is required to put up a request for renewal or updation of DSC with NSDL. The following documents are requisite for renewal / updation of Digital Signature Certificate (DSC):

    1. Authority Letter
    2. Cover Letter
    3. Screen Shots of new DSC*

    *Note - Go to Internet explorer - Tools - Internet Options - Contents - Certificates - Personal Tab (and view certificate) then take below screen shots.

    1. General Tab
    2. Details Tab - Serial Number
    3. Details Tab - Authority Key Identifier

    The documents should be forwarded to NSDL at the following address:
    Online Upload Team
    NSDL e-Governance Infrastructure Limited
    1st floor, Times Tower,
    Kamala Mills Compound,
    Senapati Bapat Marg,
    Lower Parel (W),
    Mumbai - 400013.

    Superscribe the envelope with 'Renewal / Updation of Digital Signature Certificate (DSC) for Online upload’.

    Note:  As per the guidelines issued by the Office of CCA, it is required to comply to the use of SHA-2 Hash Algorithm and 2048 bit RSA keys for digital signing. In view of the same, the following pre-requisites need to be followed:
    • JRE version : SUN-java 1.6_update29 or higher version (32 bit)
    • Client Operating system : Windows XP SP3, Vista Windows 7, Windows 2003 with patch for SHA-2.
    • I.E browser version supported : 7,8 and 9.
    • Safenet or E-token drivers used should be the latest (if applicable)

    Conditions for Claim of Deduction of Interest on Housing Loan under section 24(b) for Asstt. Year 2014-15

    Section 24(b) of the Act allows deduction from income from houses property on interest on borrowed capital as under:

    1. the deduction is allowed only in case of house property which is owned and is in the occupation of the employee for his own residence. However, if it is actually not occupied by the employee in view of his place of the employment being at other place, his residence in that other place should not be in a building belonging to him.

    2. The quantum of deduction allowed as per table below:

    Sl
    No
    Purpose of borrowing capital
    Date of borrowing
    capital
    Maximum Deduction
    allowable
    1
    Repair or renewal or reconstruction of the house
    Any time
    Rs. 30,000/-
    2
    Acquisition or construction of the house
    Before 01.04.1999
    Rs. 30,000/-
    3
    Acquisition or construction of the house
    On or after 01.04.1999
    Rs. 1,50,000/-

    In case of Serial No. 3 above
    1. The acquisition or constructing of the house should be completed within3 years from the end of the FY in which the capital was borrowed. Hence it is necessary for the DDO to have the completion certificate of the house property against which deduction is claimed either from the builder or through self-declaration from the employee.
    2. Further any prior period interest for the FYs upto the FY in which the property was acquired and constructed shall be deducted in equal installments for the FY in question and subsequent four FYs.
    3. The employee has to furnish before the DDO a certificate from the person to whom any interest is payable on the borrowed capital specifying the amount of interest payable. In case a new loan is taken to repay the earlier loan, then the certificate should also show the details of Principal and Interest of the loan so repaid.

    Limit for mandatory e-payment under ST reduced to Rs. 1 lakh from Rs. 10 lakhs w.e.f. 01.01.2014

    The Central Government has third amendement vide Notification No 16 /2013-Service Tax, New Delhi, the  22nd November, 2013 to Rule 6(2) of the Service Tax Rules, 1994 which is as under:

    RULE 6 OF THE SERVICE TAX RULES, 1994 - PAYMENT - SERVICE TAX - LIMIT FOR MANDATORY E-PAYMENT REDUCED FROM RS. 10 LAKHS TO RS. 1 LAKHS

    TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II,   SECTION 3, SUB-SECTION (i)

    GOVERNMENT OF INDIA
    MINISTRY OF FINANCE
    (DEPARTMENT OF REVENUE)

    Notification No 16 /2013-Service Tax
    New Delhi, the  22nd November, 2013
    1 Agrahayana, 1935 Saka

    G.S.R   (E).-In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 ( 32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994,  namely:-
    1.    (1) These rules may be called the Service Tax  Third ( Amendment) Rules, 2013.
    (2)  They shall come into force on the 1st day of January, 2014.

    2.    In the Service Tax Rules, 1994,  in rule 6,  in sub-rule (2),  in the proviso,  for the words “ rupees ten lakh” , the words   “ rupees one lakh”   shall be substituted.

    F.No: 137/116/2012- Service Tax
    (Rajeev Yadav)
    Director

    Note: The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3,  Sub-section (i) vide notification No. 2/94-Service Tax, dated the 28th June, 1994 vide number G.S.R 546(E), dated the  28th June, 1994 and was last amended by notification No 5/2013- Service Tax, dated the 10th April, 2013, vide GSR 236 (E) dated the 22nd February, 2013.

    Download Form-16 (Part-"A" & "B") for Salaried Employee & Tax Challan Software.

    This is a free software for taxpayers for printing Income Tax Challans with Barcoded PAN/TAN and other Details.  The software can be downloaded and installed on your computer for repeated/multiple use.  Once installed you may use this utility to print challans with PAN and other details. The Barcode of PAN will be printed automatically.   Kindly note that correct quoting of PAN on the challan will help you to get correct credit of the amount of tax you pay through the challan.  We urge you to check the correctness of your PAN by using the "know your PAN" facility available on our site.  Below are the details of the system requirements for installing this utility on your PC.

    Minimum Systems Requirements:
    • Pentium or better.
    • 15MB disk space.
    • 32MB RAM.
    • Windows 95, 9X, ME, XP, NT, 2K.
    This Software print Challans:
    280: For depositing Advance tax, Self Assessment tax, Tax on Regular Assessment, Surtax, Tax on Distributed Profits of Domestic Company and Tax on Distributed income to unit holders.
    281: For depositing TDS/TCS by company or non company deductee
    282: For depositing Securities transaction tax, Estate duty, Wealth-tax, Gift-tax, Interest-tax, Expenditure/other tax and Hotel Receipt tax
    283: For depositing banking cash Transaction Tax and FBT


    Steps for Installation
    • Download the Taxprochallan.zip file.
    • Extract the Taxprochallan.zip file into a physical path.
    • Double click on the Taxprochallan.exe from the extracted path.


    File Size Date
    Form-16 (Part-A & B) Software.xlsx
    Form-16 (Part-A & B) Software for All Salaried Employee
    2.02 MB 05/19/2013 Download
    TaxProChallan.exe
    Challan (280, 281, 282 & 283) Software M/s. Chartered Information Systems Pvt. Ltd.
    4 MB 05/19/2013 Download

    (This utility is brought to you, courtesy M/s. Chartered Information Systems Pvt. Ltd.)

    Tax Exemption on LTA (Leave Travel Allowances) for Domestic Travel.

    Tax exemption on leave travel allowance or LTA can be claimed only on domestic travel and cannot be clubbed with an overseas journey. If an air ticket comprises Indian and overseas components, no exemption will be provided either on the entire cost or on partial Indian travel.

    This was clarified in a recent ruling by the Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) while hearing an appeal of a PSU bank employee. The employee, Om Prakash Gupta, had argued that since the final destination was India, the entire airfare claimed by him should be tax exempt. His travel included visits to Singapore and Malaysia.

    Gupta further appealed that if not the entire amount, at least the cost incurred on the Indian leg of the journey should be considered for tax exemption. But the ITAT bench denied his appeal. "Section 10 (5) of the Income Tax Act and Rule 2B do not stipulate that journey to any place in India would be made via a place outside India.

    The intention of the legislature was certainly not to grant exemption for reimbursement of the value of the LTA where the journey was performed via a foreign country," the bench observed, ruling out any exemption.

    The LTA exemption is available for travel expenses (comprising air, road or rail fare) by the employee and his family for two journeys performed in a block of four calendar years, subject to fulfilling various conditions. The current block of four years expires in December this year.

    Under the tax laws, even for domestic travel, where the journey is performed in a circular form touching different places, the exemption is limited to the travel expenses that would be admissible from the place of origin to the farthest point reached in India, by the shortest route.

    The Central Board of Direct Taxes in its October 5, 2012 circular relating to TDS from salary income for 2012‐13, had made LTA claim processing norms stringent. It was made mandatory for employers to satisfy themselves that the LTA claimed was treated as tax exempt in accordance with the laws. Further, employers were required to collect and preserve supporting evidence of LTA claims made by employees.

    These strict processing norms are likely to continue for current financial year. "As the Chandigarh ITAT has clarified that even the India portion of the airfare is not eligible for tax exemption, due care must be taken while computing TDS against employees' salaries," claims a vice‐president (payroll) of an IT company.

    (Economic Times)

    Verification of e-TDS/TCS Return - FAQs

    After I prepare my e-TDS/TCS return, is there any way I can check/verify whether it conforms to the prescribed data structure (file format)?
    Ans : Yes, after you have prepared your e-TDS/TCS return you can check/verify the same by using the File Validation Utility (FVU). This utility is freely downloadable from the NSDL-TIN website.

    What is File Validation Utility (FVU)?
    Ans :  FVU is a program developed by NSDL, which is used to ascertain whether the e-TDS/TCS return file contains any format level error(s). When you pass e-TDS/TCS return through FVU, it generates an 'error/response file'. If there are no errors in the e-TDS/TCS return file, error/response file will display the control totals. If there are errors, the error/response file will display the error location and error code along with the error code description. In case you find any error, you can rectify the error and pass the e-TDS/TCS return file again through the FVU till you get an error-free file.

    What is the 'Upload File' in the new File Validation Utility?
    Ans :  'Upload File' that is generated by the FVU when the return is validated using the FVU has to be filed with TIN-FC. This 'upload file' is a file with the same filename as the 'input file' but with extension .fvu. Example 'input file' name is 27EQGov.txt, the upload file generated will be 27EQGov.fvu.

    What are the platforms for execution of FVU?
    Ans :  For Quarterly Returns, Java has to be installed to run FVU. Details are given in FVU section of NSDL-TIN website.

    What are the Control Totals appearing in the Error/Response File generated by validating the text file through File Validation Utility (FVU) of NSDL?
    Ans :  The Control Totals in Error/Response File are generated only when a valid file is generated. Otherwise, the Error/Response File shows the nature of error. The control totals are as under:
    • Number of deductee/party records : In case of Form 24Q, it is equal to the number of employees for which TDS return is being prepared. In case of Form 26Q/27Q, it is equal to the total number of records of tax deduction. 10 payments to 1 party would mean 10 deductee records.
    • Amount Paid : This is the Total Amount of all payments made on which tax was deducted. In case of Form 24Q, it is equal to the Total Taxable Income of all the employees. In case of Form 26Q/27Q, this is equal to the total of all the amounts on which tax has been deducted at source.
    • Tax Deducted : This is the Total Amount of tax actually deducted at source for all payments.
    • Tax Deposited : This is the total of all the deposit challans. This is normally the same as Tax Deducted but at times may be different due to interest or other amount.
    Are the control totals appearing in Form 27A same as that of Error/Response File?
    Ans :  Yes, the control totals in Form 27A and in Error/Response File are same.

    What if any of the control totals mentioned in Form No. 27A do not match with that in e-TDS/TCS return?
    Ans :  In such a case the e-TDS/TCS return will not be accepted by the TIN-FC. You should ensure that the control totals generated by FVU and that mentioned on Form No. 27A match. In case of any difficulties/queries, you should contact the TIN-FC or TIN Call Centre at NSDL.

    PAN or TAN Register on TRACES and Free Download TDS Certificates

    As per the records of Centralized Processing Cell (TDS), the TDS Statements have been filed by you for different quarters. However, you have not yet registered on TRACES (https://www.tdscpc.gov.in). In this regard, your attention is invited to the CBDT circulars 04/2013 dated 17.04.2013, No. 03/2011 dated 13.05.2011 and No. 01/2012 dated 09.04.2012 on the Issuance of certificate for Tax Deducted at Source in Form 16 / 16A as per IT Rules, 1962. It is now mandatory for all deductors to issue TDS certificates after generating and downloading the same from 'TDS Reconciliation Analysis and Correction Enabling System' or (https://www.tdscpc.gov.in) (hereinafter called TRACES).
    • In view of above circulars, it may kindly be noted that only the TDS Certificates downloaded from TRACES will be valid. Certificates issued in any other form or manner will not comply to the requirements referred in the Income Tax Act, 1961 read with relevant Rules and Circulars issued in this behalf from time to time
    • In addition to the facility to download TDS Certificates bearing unique TDS certificate number, the portal provides other facilities, some of which are as under:
      • View of Deductor Dashboard to know about your TDS performance
      • PAN Verification
      • View of Challan status
      • View of Statement Status
      • Download of Consolidated TAN-PAN File for submitting 'Correction Statements' in case of incomplete and incorrect reporting
      • Download of Justification Report to know the details of 'TDS defaults', if any, on processing of TDS statements
    The above facilities including downloading of the TDS Certificates can be availed only by registering yourself with TRACES. You are accordingly requested to register immediately on TRACES. The procedure of registration can be accessed by clicking the link https://www.tdscpc.gov.in/en/user-manual.html.

    For any assistance, you can write to   or call our toll-free number 1800 103 0344

    Procedure for filing e-TDS/TCS Returns with Insufficient Deductee PAN.

    Finance Act, 2003 amended section 206 of Income Tax Act, 1961 to make it mandatory for corporate deductors to furnish their TDS returns in electronic form (e-TDS returns). The scheme for furnishing TDS return in electronic form was notified by the Central Board of Direct Taxes (CBDT) vide Notification No. 205/2003 dated August 26, 2003.

    Finance Act, 2004, further amended section 206 of the Income Tax Act, 1961, making it mandatory for government deductors also to furnish e-TDS returns from F.Y. 2004-05. E-TDS returns are to be prepared in accordance with the data structure (file format) specified by Income Tax Department (ITD).

    Income Tax Department vide its notification no. 238/2007 dated August, 2007 amended Rules 31A of the Income Tax Rules, 1962 to provide mandatory electronic filing of TDS return in respect of following cases :
    • Deductors required to get accounts audited u.s. 44AB in the immediately preceding financial year.
    • Deductors having number of deductee records in a quarterly return for any quarter of the immediately preceding financial year more than or equal to 50.
    How do I file my quarterly e-TDS/TCS return, if I don’t have PANs of all deductees?
    Ans.:  You can file your e-TDS/TCS return for the deductees who have valid PANs and subsequently file correction return for remaining deductees whose PANs were not available with you while furnishing regular return.

    How do I include deductees whose details were not provided earlier due to unavailability of PAN?
    Ans.:  You are required to file a correction return in a prescribed file format available at www.tin-nsdl.com

    What amount should be mentioned in the challan details in case a regular return is filed only for those deductees whose PAN is present and subsequently a correction is filed with the remaining deductees?
    The amount deposited vide that particular challan should be mentioned in the original as well as correction return. Refer below example:
    • Suppose a challan payment of Rs.1,00,000/- has been made for non-salary TDS against 100 deductees each with TDS of Rs.1,000/-. Under the existing procedure the deductor will have to quote at least 85 PAN failing which his return will be rejected.
    • If there are only 50 deductees whose PAN is available and the deductor attempts to file a return with details of 100 deductees with PAN of only 50 deductees, the return will automatically be rejected at present.
    • However, if he files a return with challan amount of Rs. 1,00,000/- and with details of 50 deductees with PAN, with deductee total of Rs.50,000/-, the return will be accepted. It means the deductor can furnish the details relating to such deductees whose PANs are available.
    • The deductor can later file correction returns with other details of remaining deductees with the same challan details, i.e., the challan amount should be the amount deposited (in this case Rs. 1,00,000/-).
    • The return will be accepted so long as the TDS total of incremental deductees is less than or equal to the balance of Rs.50,000/-.
    Permanent Account Number of Deductee
    In case valid PAN of a deductee is not available, the deductor should mention the details as under :
    PANAPPLIED - in case deductee does not have a PAN but has applied and provided proof of application of PAN.
    PANNOTAVBL - where deductee has not given any PAN or proof of PAN application. This means PAN is not available.
    PANINVALID - where deductee has provided PAN but it is structurally invalid.
    The Deductee PAN field should contain a structurally valid PAN or PANAPPLIED or PANNOTAVBL or PANINVALID only. If any other value is mentioned in this field then the FVU will give an error during validation of the TDS return.

    Tax Liability on Sale of Agricultural Land and Plot for Asstt. Year 2014-15.

    TAX LIABILITY ON SALE OF AGRICULTURAL LAND


    In normal course, any income from transfer of agricultural land, which is being used for agricultural purpose, shall be tax free if the agricultural land is not situated in any area within the distance (measured aerially) of not more than:
    • 2 kms, from the local limits of any municipality or cantonment board and which has a population of more than 10,000 but not exceeding 1,00,000; or
    • 6 kms, from the local limits of any municipality or cantonment board and which has a population of more than 1,00,000 but not exceeding 10,00,000; or
    • 8 kms, from the local limits of any municipality or cantonment board and which has a population of more than 10,00,000.
    If the agricultural land is situated within the radius of 2 kms/ 6 kms / 8 kms as mentioned above, then depending upon the period of holding, the profit arising on sale of agricultural land will be taxable as Long Term or Short Term Capital Gain.

    In your specific case, if the agricultural land is not covered in the situation mentioned in (1) above then the profit arising on sale of agricultural land would be taxable as Long term Capital Gain as the agricultural land is having a holding period of more than 36 months. In absence of the exact reference of the date/financial year of acquisition in the query, Stamp Duty valuation of the land at the time of sale & also the non availability of the Cost Inflation Index (CII) for the FY 2013-14, the amount of Long Term Capital Gain could not be worked out. The CII for the FY 2013-14 has not yet been notified by the CBDT & it is expected that the same may be notified in this month itself.

    TAX LIABLITY ON SALE OF PLOT


    Suppose, the plot was purchased in 2011 and planning to sell it in the Fin. Year 2013-14. The profit on sale of plot would be a Long Term Capital Gain if it is sold after a holding period of more than 36 months. If the plot is sold within a period of 36 months, the profit would be treated as Short Term Capital Gain and for tax purpose, would be treated like your other regular income. It would be taxable as per the applicable tax slab to your income. Since you are ultimately planning to utilize sale proceeds for purchase of a residential house property, it is advisable to sell the plot after completing the holding period of 36 months so as to claim tax benefit conferred by section 54F.

    In absence of the exact reference of the date/financial year of acquisition in the query, Stamp Duty valuation of the plot at the time of sale etc, the amount of Capital Gain could not be worked out.

    How to pay Advance Tax for Asstt. Year 2014-15?

    PAYMENT OF ADVANCE
    U/S. 207, 208, 209, 210 AND 211 OF THE INCOME TAX ACT, 1961
     
    Payment of advance tax is governed by sec. 207,208,209,210 and 211 of the Income Tax Act 1961.

    Payment of Advance Tax is also known as ‘pay tax as and when you earn’. As per the provision, tax payable on income of a previous year is to be fully paid with in the previous year itself. One can not defer the tax payment to the assessment year. The Advance tax liability arises only to those assesses whose tax liability for the previous year is Rs. 10,000/- or more.

    Advance tax helps Govt. to receive constant tax receipt throughout the year.  Advance tax is to be paid by all assesses before filing the Income Tax Return.

    For individuals who have only salary income, advance tax payment would be taken care by the TDS made by the employer. The details of TDS will be specified in Form 16 issued to the employee.

    Advance tax payment schedules:

    Due DateAmount of Tax
    15th SeptemberAt least 30% of Tax on total income for the year.
    14th DecemberAt least 60% of Tax on total income for the year less advance tax already paid.
    15th March100% of Tax on total income for the year less advance tax already paid.

    Advance tax is to be paid on all incomes. Therefore, it is payable on capital gain also. However, as the capital gain can not be estimated in advance, advance tax is paid on all capital gains when they arise in the immediately next advance tax due date.

    Interest on late payment of Advance Tax:
    Interest on late payment of Advance Tax is governed by sections 234 A, 234 B and 234 C.

    Interest under section 234A – Default in furnishing the return of Income:
    If an assessee has not filed the return of income within the due date, a simple interest @ 1% for every month or part of a month shall be payable. It is calculated from the due date to date of furnishing the return.

    Example:
    A company files its return on 15th December. Due date of filing return of income is 30th September. Let us assume that the tax payable by the company is Rs.1,00,000. Interest will be calculated as follows:

    Tax Liability Rs. 1,00,000/-

    Delay = 3 months ie October, November and December.

    Interest payable = Rs.1,00,000 X 3%= Rs. 3,000/-

    Interest under section 234B- Default in payment of Advance Tax:
    If an assessee who is liable to pay advance tax , but not paid the same or or if the advance tax paid by him is less than 90% of the assessed tax, he is liable to pay simple interest at 1% every month or part of a month.

    Interest is calculated from April 1st of the next financial year to the date of determination of total income under Section 143 (1). But, if regular assessment u/s. 143 (3) is completed, then interest is charged up to the date of regular assessment.

    Interest shall be calculated on the amount equal to the assessed tax in case no advance tax is paid, or on the amount by which the advance tax paid falls short of the assessed tax.

    Example:
    Mr. X has a tax liability of Rs. 5,00,000/-. TDS Rs. 1,00,000/-
    Advance tax payment made by Mr. X for the year is as below:-
    15th Sept 2012 Rs. 25,000/-
    15th Dec  2012 Rs. 50,000/-
    15th Mar  2013 Rs. 25,000/-

    Total advance tax paid Rs.1,00,000 /-

    Interest u/s 234B is calculated as follows:
    Tax on income Rs. 5,00,000
    Less TDS         Rs. 1,00,000
                              ------------
    Assessed tax     Rs. 4,00,000

    90% of assessed tax = 400000 X 90% = Rs. 3,60,000 /-

    Advance tax paid by Mr. X - Rs.1,00,000 /-

    Since there is a shortfall in payment of advance tax, Sec 234B is attracted.

    Shortfall = Rs. 3,60,000– Rs. 1,00,000 = Rs.2,60,000/-
    (Shortfall means difference between assessed tax and advance tax paid).

    Interest under section 234 B = 260000*1%*4 months (Apr-July) = Rs.10,400 /-

    Interest under section 234C
    If the advance tax paid is in underestimated instalments or if it s not paid at all, Section 234C gets attracted.

    Interest is calculated on the difference between the instalment paid and instalment payable. Rate of interest is @ 1% p.m. for a period of 3 months for every deferment. But, for last instalment on 15th March, interest would be 1% for 1 month only.

    Example:
    Mr. X gives the following details:
    Tax liability on total income Rs. 5,00,000/-
    TDS = Rs. 1,00,000
    Payment of advance tax:
    15 Sept 2012           Rs.  50,000/-
    14 Dec  2012           Rs.1,00,000/-
    15 Mar  2013           Rs.1,50,000/-
    Total advance tax paid Rs.3,00,000/-

    Solution:-
    Tax liability Rs. 5,00,000
    Less TDS Rs. 50,000
    Assessed tax Rs.450000 [ 5,00,000 minus 50,000]

    Interest u/s 234C is computed as under:

    Sept 15
    30% of 4,50,000 = 135000 minus 50000 ie; Rs. 85,000 short paid
    Interest = 85,000*1% X 3months = 2,550/-

    Dec 14
    60% of 4,50,000 = 2,70,000 minus 1,50,000/- = Rs. 1,20,000/- paid short.
    Interest = 1,20,000*1% X 3months = 3,600/-

    15 Mar
    100% of 4,50,000 = 450000 minus 3,00,000 = Rs. 1,50,000 /- paid short
    1,50,000 X 1% X 1month = Rs. 1500/-
    Total Interest payable u/s. 234C is Rs. 2,550+ 3,600+ 1,500 = 7,650/-

    How to calculate Interest u/s. U/S 234A, U/S 234B, U/S 234C & U/S 234D ?

    The Income Tax Act provides for charging of interest for non- payment/short payment/deferment in payment of advance tax which is calculated as below:

    INTEREST U/S 234A:
    For late or non furnishing of return, simple interest @ 1% for every month or part thereof from the due date of filing of return to the date of furnishing of return, on the tax as determined u/s 143(1) or on regular assessment as reduced by TDS/advance tax paid or tax reliefs, if any, under Double Tax Avoidance Agreements with foreign countries.

    INTEREST U/S 234B:
    For short fall in payment of advance tax by more than 10%, simple interest @ 1% per month or part thereof is chargeable from 1st April of the assessment year to the date of processing u/s 143(1) or to the date of completion of regular assessment, on the tax as determined u/s 143(1) or on regular assessment less advance tax paid/ TDS or tax reliefs, if any, under Double Tax Avoidance Agreements with foreign countries.

    INTEREST U/S 234C:
    For deferment of advance tax. If advance tax paid by 15th September is less than 30% of advance tax payable, simple interest @ 1% is payable for three months on tax determined on returned income as reduced by TDS/TCS/Amount of advance tax already paid or tax relief, if any, under Double Tax Avoidance Agreement with forgiving contribution. Similarly, if amount of tax paid on or before 15th December is less than 60% of tax due on returned income, interest @ 1% per month is to be charged for 3 months on the amount stated as above. Again, if the advance tax paid by 15th March is less than tax due on returned income, interest @ 1% per month on the shortfall is to be charged for one month.

    INTEREST U/S 234D:
    Interest @ 0.5% is levied under this Section when any refund is granted to the assessee u/s 143(1) and on regular assessment it is found that either no refund is due or the amount already refunded exceeds the refund determined on regular assessment. The said interest is levied @ 0.5% on the whole or excess amount so refunded for every month or part thereof from the date of grant of refund to the date of such regular assessment.

    Record Note of meeting regarding discussion of 7th Pay with Staff representative.

    No16/15/2012-JCA
    Government of India
    Ministry of Personnel, PG & Pensions
    Department of Personnel & Training
    North Block, New Delhi
    19th November, 2013
    Sub: Record Note of the meeting held on 24.10.2013 at 3.00 PM to discuss the possible Terms of Reference (ToR) for the 7th CPC with the representatives of the Staff Side of JCM
    The undersigned is directed to forward herewith a copy of the Record Note of the meeting held with Staff Side on 24.10.2013 to discuss the possible Terms of Reference of the Seventh Central Pay Commission.

    sd/-
    (Ashok Kumar)
    Deputy Secretary (JCA)
    Record Note of the meeting held Qn 24.10.2013 at 3.00 PM to discuss the possible Terms of Reference (ToR) for the 7th CPC with the representatives of the Staff Side of JCM
    A meeting was held on 24.10.2013 at 3.00 PM in Committee Room No 190, North Block under the chairmanship of Dr S.K.Sarkar, Secretary DOP&T to discuss the possible Terms of Reference (ToR) for the 7th Central Pay Commission, which is going to be set up by the Government, with the representatives of the Staff Side of JCM. List of Participants to this meeting is at Annexure I.
    At the outset, Secretary (P) welcomed the Staff side representatives and thanked them for attending this meeting on a short notice. He indicated that since this meeting has been convened to discuss the possible Terms of Reference (ToR) for the 7th Central Pay Commission, he hoped that the discussions would remain so focused.
    Sh Umraomal Purohit, Secretary, Staff Side, in his opening remarks stated that it would have been preferable that there was a proposal from the official side on this issue to the Staff Side and then the same could have been discussed further in a meeting where the Finance Secretary could also be invited. He then pointed out that the new concept of Pay Bands and Grade Pay structure as per the 6th CPC, which changed the pay structure in Government, had resulted in a new experience which was mixed. He stated that though the 6th CPC did not recommend merger of DA with Pay, they could not have anticipated such a high rate of inflation which resulted in such high rate of DA; the rate of Dearness Allowance presently was 90% and due to high inflation there was a need to consider merger of a part of DA with Pay. He also raised the question of Interim Relief pending finalisation of 7th CPC recommendations. Shri Purohit further mentioned that anomalies of 6th CPC should be resolved on priority before 7th CPC. He also suggested that there must be some machinery which should resolve anomalies within one year of implementation of CPC report.
    M.Raghavaiah, while thanking the Chairman raised the issue of anomalous situations which had arisen due to the new concept of Pay Bands and Grade Pay structure as per the 6th CPC. He suggested that the Finance Ministry should look into this aspect as to how anomalies cropped up due to this and how these can be avoided in future. He was of the view that the anomalies cases which stand referred to the Ministry of Finance need to be cleared. He referred to anomalies relating to MACP scheme vis a vis ACP scheme and resolution pending thereon required to be resolved as already discussed in the Joint Committee meetings on MACPS. He also demanded that there should be merger of DA with Pay as was agreed to in 2004. He also
    pointed out that the Railway Ministry’s proposals on 6th CPC related matters presently pending with Ministry of Finance should be cleared.
    The other representatives from Staff Side raised the following issues
    1) Entry level pay to promotee employees at par with that admissible to Direct Recruits as was agreed in the National Anomaly Committee;
    2) One of the ToR should be to set up a special bilateral mechanism to sort out anomalies arising out of Pay Commission recommendations;
    3) Professional approach should be adopted in dealing with peculiarities concerning Railways and Defence civilian employees;
    4) There should be parity between pre & Post CPC retirees for the purpose of pension etc.;
    5) Cadre review/restructuring proposals should be delinked from the 7th CPC so that these are not delayed;
    6) Wage Revision should be effective after every 5 years as in the case of PSUs;
    7) If there is going to be separate CPC for the Armed Forces as had been reported in media, or if there is a representative of Armed Forces in the 7th CPC then there should be a representative of Labour in the CPC;
    8) CPC should not go by “Central Secretariat” structure to make its recommendations which does not take into account specific complexities in large Government organisations like Railways, Postal Department and Defence establishments.
    9) Allowances should be enhanced concurrently with the pay consequent upon Pay commission implementation.
    10) Supreme Court has upheld that MACP should be in the hierarchy of the Post and also for grant of NDA in 7th CPC rates w.e.f. 1/4/2007. These judgments should be implemented to all similarly placed employees.
    11) The Secretary Staff side in the end requested that a copy of Terms of Reference as proposed by the Ministry of Finance may be circulated and then another meeting with Secretary, Department of Expenditure and Department of Personnel & Training be arranged to discuss & finalise the Terms of Reference of 7th CPC.
    In his concluding remarks, the Chairman thanked the participants for their views and requested the Staff Side that they may send their suggestions in writing also.
    ANNEXURE I
    List of Participants in the Meeting held on 24th October, 2013 at 3.00 PM in Room No. 190, North Block, New Delhi.
    CHAIRPERSON -
    Dr.S.K.Sarkar, Secretary (Personnel)
    OFFICIAL SIDE
    STAFF SIDE
    1. Mamta Kundra JS (E), DoPT1. Umraomal Purohit
    2. Ashok Kumar, DS(JCS), DoPT 2. M.Raghavaiah
    3. Sanjiv Shankar, Director (Estt.II), DoPT 3. Shiva Gopal Mishra
    4. Mukesh Chaturvedi, DS(Pay), DoPT 4. Rakhal Das Gupta

    5. Guman Singh

    6. R.P.Bhatnagar

    7. K. K.N.Kutty

    8. S.K.Vyas

    9. C.Srikumar

    10. S.N.Pathak

    11. R.Srinivasan

    12. J.R.Bhosle

    Source: www.persmin.nic.in