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1. |
What
is the Flow chart of e-Return? |
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E Return
Flow Chart is as below: |
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Deductor-> Tin FC/Direct
Upload-> NSDL (e-Return Intermediatory)->
IT Department.
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2. |
Why
SaralTDS is required? |
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As the Return of Quarterly
TDS/TCS details is mandatory to be submitted
in Electronic format through a computer media
(Floppy/CD), it creates a requirement for
SaralTDS that converts the General Data entered
in it to the electronic format specified by
NSDL.
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3. |
What
is NSDL? |
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National Security Depositories
Limited [NSDL], Mumbai is the Intermediatory
appointed by IT Department for the e-Governance
of Direct Taxes. It is the company Tendered
by IT department for the superintendence of
Direct Tax collection and returns administration.
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4. |
What
is TIN Facilitation Centre [TIN FC]? |
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TIN FCs
are the centers opened by NSDL for the purpose
of collection of e-TDS/TCS returns filed by
Deductors/Collectors. The detailed addresses
of TIN FCs throughout India are available at www.tin-nsdl.com. |
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5. |
What
are the general points to be considered while
filing the eTDS/TCS return? |
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Following
points are to be considered for eTDS/TCS return
filing: |
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 Each e-TDS return file (Form 24, 26 or 27) should
be in a separate CD/floppy. |
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Each e-TDS return file should be accompanied
by a duly filled and signed (by an authorized
signatory) Form 27A in physical form. |
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Each e-TDS return file should be in one CD/floppy.
It should not span across multiple floppies. |
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In case the size of an e-TDS return file exceeds
the capacity of one floppy, it should be furnished
on a CD. |
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In case the e-TDS return file is in a compressed
format, it should be compressed using WinZip
8.1 or ZipItFast 3.0 compression utility only
to ensure quick and smooth acceptance of the
file. |
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Label should be affixed on each CD/floppy mentioning
name of the deductor, his TAN, Form no. (24,
26 or 27) and period to which the return pertains. |
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There should be not any overwriting / striking
on Form 27A. If there is any, then the same
should be ratified by an authorized signatory. |
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No bank challan, copy of TDS certificate should
be furnished along with e-TDS return file. |
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In case of Form 26 and 27, deductor need not
furnish physical copies of certificates of no
deduction or lower deduction of TDS received
from deductees. |
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In case of Form 24 deductor should furnish physical
copies of certificates of 'no deduction or deduction
of TDS at lower rate', if any, received from
deductees. |
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e-TDS return file should contain TAN of the
deductor without which the return will not be
accepted. |
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CD/floppy should be virus free. |
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In case any of these requirements
are not met the e-TDS return will not be accepted
at TIN- FCs.
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6. |
What
is e-Return/electronic Format? |
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e-Return is a process
where the data which was submitted through
paper returns in the earlier procedure, is
converted to a specified (by NSDL) Text format
in the 1st Level (Deductor/Collector) itself.
This data is directly (www.tin-nsdl.com)
or Indirectly (TIN Facilitation Centers) Uploaded
to NSDL.
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7. |
What
is File Validation Utility [FVU]? |
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FVU is a utility provided
by NSDL to verify the e-Return (Text file)
generated by the deductor, with the format
prescribed. FVU takes an Input file and generates
a report and *.FVU File.
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8. |
What
are errors? |
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FVU checks the text file
with the format prescribed by NSDL. The deficiencies
found in the file are known as errors. This
may be due to invalid data provided or dates/amounts
out of limits, etc
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9. |
What
FVU does if any errors found in the file? |
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If any errors found, *.FVU
file will not be generated and Report file
contains the List of errors in the Text file.
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10. |
What
FVU does if there are no errors in the file? |
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If File Validation is
successful, FVU generates a Report file with
the Statistics of the return and a *.FVU file
with Text file converted to a compatible format
(With addition of few more details) for the
software in TIN FC (SAM [ Statement Acceptance
Module].
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11. |
What
are Form 24, 26, 27 and 27E? |
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These forms are the respective
formats prescribed by IT department for TDS/TCS
returns. Form 24 is prescribed for Return
of TDS details on Salary Payments, Form 26
for Return of TDS details on Other than Salary
Payments (Domestic), Form 27 is also for Return
of TDS details on Other than Salary Payments
(NRI/Foreign) and Form 27E is for TCS returns.
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12. |
What
data is to be entered in Form 24Q of salaries
as it is a quarterly return? Do we require to
specify the quarterly amounts of investments,
incomes, etc |
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As per the clarification
by NSDL/IT department, Form 24Q can contain
only Deduction and challan details for 1st,
2nd and 3rd quarters. [I.e.: Only amount of
payment as per Pay slip, TDS deducted with
respective rates and the challan remittance
details].
But Last quarter should compulsorily contain
the annual amounts of Investments, Contributions,
etc under Chapter VI A, Details of Salary,
Perquisites and Any other incomes reported
and his net tax liability. Last quarter
should also contain the Deduction and challan
details of respective quarter.
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13. |
What
about the Salary Details, in case the employee
has left the employment before 4th quarter? |
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Where an employee has
worked with a deductor for part of the financial
year only, the deductor should deduct TDS
from his salary and report the same in the
quarterly Form 24Q of the respective quarter(s)
up to the date of employment with him. Further,
while submitting Form 24Q for the last quarter,
the deductor should include particulars of
that employee in Annexure II & III irrespective
of the fact that the employee was not under
his employment on the last day of the year.
Note that in this case Deductions and Challan
amount may not be there for that employee
in last quarter.
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14. |
Can
deductor file Form 26Q separately for contractors,
professionals, interest etc.? |
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No. A single Form 26Q
with separate annexure for each type of payment
has to be filed for all payments made to residents.
E-Return should comprise a single file with
all the details of Form26Q.
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15. |
What
is Form 26AS? |
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The annual statement will
be issued for all tax deducted and tax collected
at source from F.Y 2005-06 onwards after the
expiry of the financial year u/s 203AA. This
statement is known as Form 26AS. According
to this, The PAN wise ledger account will
be created after matching the information
in the TDS/TCS returns filed by the deductor/
collector and the details of tax deposited
in banks coming through OLTAS. This further
depends on accuracy in e-Return [TAN, PAN,
challan number, etc] by the deductor.
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16. |
What
if a return doesnt contain deductee PAN? |
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In case PANs of some of
the deductees are not mentioned in the e-TDS
return, the Provisional Receipt will mention
the count of missing PANs in the e-TDS return.
The details of missing PANs (extent it can
be collected from the deductees) may be furnished
within seven days of the date of Provisional
Receipt to TIN- FC. e-TDS return will be accepted
even with missing PANs.
However, if PAN of deductees is not given
in the TDS return, tax deducted from payment
made to him cannot be posted to the statement
of TDS to be issued to him u/s 203AA.
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17. |
What
about the challan details entry for government
deductors, as they remit the deductions with
Book Adjustments/Book Entries/Treasury? |
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In such
cases NSDL allow the Deductors to mark Transfer
voucher details in place of Challan details.
In SaralTDS If the deductor status is selected
as Government, then a option to select Transfer
Voucher will be available (on RHS) in Challan
Details screen, where user should enter Transfer
Voucher Number and Date. The other fields Cheque
details and Bank Code is optional in this case. |
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18. |
Which
File is to be submitted to NSDL for eTDS/TCS
returns? |
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After Validation of the
File, the *.FVU file is to be copied to a
Floppy/CD and should be enclosed with a covering
Letter (Form 27A) duly signed by the responsible
person. Both together should be submitted
to the TIN FC. TIN FC will upload the *.FVU
file through SAM and generate an acknowledgement
receipt on the Form 27A furnished.
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19. |
What
is form 26QA? |
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Section 206A of IT Act
(Amended) mandates that any banking company
or co-operative society or public company
responsible for paying to residents any income
by way of interest not exceeding five thousand
rupees without deduction of tax, shall file
quarterly returns.
The Central Board of Direct Taxes has notified
that the return in such cases shall be furnished
in Form No. 206QA. The Form shall be furnished
on or before the 31st July, the 31st October,
the 31st January and the 30th June following
the respective quarter of the financial year.
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20. |
What
is Annual Information Return [AIR]? |
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Section
285BA of the IT Act (Amended) mandates the specified
entities to furnish an Annual Information Return
(AIR) in respect of specified financial transactions
registered/recorded during the financial year
(beginning on or after April 1, 2004).
The Annual Information Return shall be furnished
by every person mentioned below in respect of
all transactions of the nature and value specified
in the corresponding entry: |
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A
banking company: Cash deposits aggregating
to ten lakh rupees or more in a year in any
savings account of a person maintained in that
bank. |
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A
banking company or any other company or institution
issuing credit card:. Credit Card Payments
to a person, aggregating to two lakh rupees
or more in the year. |
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A trustee
of a Mutual Fund: Receipt from any person of
an amount of two lakh rupees or more for acquiring
units of that Fund. |
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A
company or institution issuing bonds or debentures: Receipt from any person of an amount
of five lakh rupees or more for acquiring bonds
or debentures issued by the company or institution. |
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A
company issuing shares through a public or rights
issue: Receipt from any person of an
amount of one lakh rupees or more for acquiring
shares issued by the company. |
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Registrar
or Sub-Registrar appointed under the Registration
Act, 1908: Purchase or sale by any
person of immovable property valued at thirty
lakh rupees or more. |
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An officer of
the Reserve Bank of India, who is duly authorized
by the Reserve Bank of India in this behalf: Receipt from any person of an amount or amounts
aggregating to five lakh rupees or more in
a year for bonds issued by the Reserve Bank
of India.
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21. |
Where
can the user get the detailed FAQs regarding
eTDS from Income Tax department? |
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22. |
Can
return be filed before the end of Quarter? |
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No. The return can be
validated only after the end of the quarter.
NSDL FVU doesnt accept a return created before
the end of the quarter.
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1. |
If
SaralTDS is built on VB, why Java Runtime Environment
[JRE] is required? |
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Basically SaralTDS generates
the text file as per the format prescribed.
This text file is to be further checked by
NSDL File Validation Utility for generation
of *.FVU file. As it is recommended to verify
the Text file output of SaralTDS with the
FVU provided by NSDL, SaralTDS is inbuilt
with NSDL FVU. The FVU for 200-06 (Quarterly
Returns) is built in Java and the program
requires JRE to be present in the User computer.
So SaralTDS comes bundled with JRE and requires
it to be installed for the purpose of validation.
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2. |
What
is Challan and deduction link? |
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All the
Deductions made by a deductor should be shown
with the respective Challan details. The process
of linking the deductions entered in Deduction
details to the challans entered in Challan details
is called Challan and Deduction Link. |
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3. |
Why
Challan and deduction link is required? |
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Prior
to 2004-05 Financial Year, it was required only
for the purpose of TDS/TCS certificate generation,
where the linking was reflected. But 2005-06
Financial Year onwards (Quarterly Returns) the
Linking is also to be shown in the Quarterly
TDS/TCS returns. Each and every deduction should
contain a challan linked with it. |
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4. |
What
is Part Payment? |
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If a
single deduction is remitted to the bank with
multiple challans (More than One challan), then
such remittance are called as part payments. |
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5. |
What about the challan and Deduction Link in
case of Part Payment? |
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Incase
of Part Payments, Deductions should be proportionally
split up with respect to the payments made and
shown in the return. This process is also internally
taken care in SaralTDS Professional, Corporate
and Institutional Versions.
For E.g.: If a deduction of 1500/- is paid through
two individual challans of 1000/- and 500/-,
then the return should contain 2 individual
deductions of 1000/- and 500/- with the same
Date and Proportionate Amount of Payment. These
deductions should also be linked with respective
challan amounts. |
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6. |
What
are TDS/TCS certificates? |
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As the
details of TDS/TCS will be submitted to the
department directly by the deductor, he should
provide a certificate of deduction/collection
to the Employee/Deductee/Colectee, which is
required to be enclosed as proof of TDS/TCS
made with his Annual Income Tax return.
Form 16/16AA is prescribed for TDS certificate
of TDS on Salary Payments (Form 24). Form 16A
for TDS on other than Salary Payments (Form
26 and 27) and Form 27D as the TCS Certificate
for TCS collection (Form 27E) |
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7. |
What
is a Nil Return? |
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Return,
which comprises of Only Zero/NIL Deductions
in deduction details and no challan details
(Apart from a NIL Challan Indication) is called
NIL Return.
Note that the NIL return should have a value
Greater than Zero as Total Amount Paid/Credited.
Zero-Amount of Payment is not accepted by NSDL.
It is compulsory for a deductor to file NIL
return if he has done some payments and not
deducted/Collected any TDS/TCS on the amount
of payment. No Deduction Details and No Challan
details is not a NIL returns. |
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8. |
What
is the position for an assessee who has not
made any payment at all? |
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If there
are no payments done under that particular form,
it is not compulsory for the deductor to file
eTDS returns for that form, unless intimated
by IT Department/NSDL. |
