With respect to the quarterly statements of TDS, the following points are noteworthy.
- Every deductor is required to file the quarterly statement of TDS in prescribed form for each quarter as per the dates specified above.
- In case of every Government and Corporate deductor, the quarterly statements are to be delivered on computer readable media (3.5”, 1.44 MB floppy diskette or CD-Rom of 650 MB capacity). The statement in computer readable media is to be prepared as per data structure provided by the e-filing Administrator(DGIT Systems) designated by the Board for purposes of e-TDS Scheme : 2003. Further, a declaration in Form 27A or 27B is also to be submitted in paper format. This scheme has been extended to apply to categories of entities/ persons mentioned earlier at para 8.4.
- A person other than a corporate or government deductor or that specified in para 8.4 may at his option deliver the quarterly statements in computer readable media as specified above. However, it is not mandatory for him to do so.
- The quarterly statements are to be furnished in accordance with the provisions of rule 31A and rule 31AA.
- The persons referred to in Rule 37A (who are making payment to a non-resident or a foreign company) are required to file quarterly statements in accordance with provisions of rule 37A and rule 37B.
- It is mandatory for the deductor to quote TAN and PAN in the quarterly statements. However, where the deduction has been made by or on behalf of the Government, PAN shall not be required to be quoted in the quarterly statement.
- In the quarterly statements, the deductor is also required to quote the Permanent Account Number (PAN) of all persons in respect of whom Income-tax has been deducted. However, PAN of those persons is not required to be quoted who are specified under second proviso to sub section (5B) to section 139A. These persons include those who are not required to obtain PAN under any provisions of this Act or those whose total income is not chargeable to Income-tax.
- The deductor is also required to furnish the particulars of tax paid to the Central Government in the quarterly statements.
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