The most expected changes for 2009-10 in TDS system, which included introduction of Form 24C, Form 17, UTN, etc has been deferred for some more time.
CBDT states, the changes are inactive for certain period and next effective date would be notified shortly.
The steps to be followed by impact holders are as below:
- No need to mention UTN in your ITR return. It has to be left Blank.
- UTN would be applicable only from next year ITR filing.
- Also, receive your TDS certificates in old format itself. No need for UTN.
- Forget about 24C, 17 and UTN till next notification.
- Use ITNS 281, available at www.tin-nsdl.com from Challan payments.
- File your Quarterly returns in Form 24Q, 26Q, 27Q and 27EQ as applicable.
- Issue TDS certificates for 2008-09 Financial year in earlier formats itself. Do not worry about UTN.
- As the changes are expected to come into effect from 3rd Quarter of 2009-10, you can hold issuing of TDS certificates for 2009-10 till further notification.
- Department would also generate UTN for First quarter of 2009-10, based on QWuarterly returns filed.
The press release states:
No.402/92/2006-MC (14 of 2009)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi dated 30th June 2009
The Central Board of Direct Taxes have further decided that the Notification No. 31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962 shall be kept in abeyance for the time being.
Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or any other earlier AY, may continue to file their returns without mentioning the Unique Transaction Number (UTN) as required under the said Notification. The filing of such returns shall be treated as valid and in compliance to the requirements under section 139 of the Income Tax Act, 1961.
Further, the date from which the Notification No. 31 / 2009 shall become applicable on tax deducted at source (TDS) or tax collected at source (TCS) and deposited during the current financial year shall be notified by the Central Board of Direct Taxes subsequently.
All deductors / collectors of TDS / TCS may continue to deposit their TDS / TCS and file their quarterly TDS / TCS returns as per procedure existing prior to issuance of Notification No.31 / 2009 dated 25.3.2009.
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