TAX INFORMATION NETWORK (TIN) of Income Tax Department
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TAX INFORMATION NETWORK (TIN) of Income Tax Department (Managed by NSDL) December 15, 2013 PowerPoint PPT Presentation


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TAX INFORMATION NETWORK (TIN) of Income Tax Department (Managed by NSDL) December 15, 2013. Contents. Vision Annual Tax Statement (Form 26AS) TIN – Process architecture TDS/TCS – Good Practice Feedback to deductors Correction statement AIN and Form 24G. Vision.

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TAX INFORMATION NETWORK (TIN) of Income Tax Department (Managed by NSDL) December 15, 2013

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Tax information network tin of income tax department managed by nsdl december 15 2013

  • TAX INFORMATION NETWORK (TIN) of Income Tax Department

    • (Managed by NSDL)

    • December 15, 2013

NSDL e-Governance Infrastructure Limited


Contents

Contents

  • Vision

  • Annual Tax Statement (Form 26AS)

  • TIN – Process architecture

  • TDS/TCS – Good Practice

  • Feedback to deductors

  • Correction statement

  • AIN and Form 24G

NSDL e-Governance Infrastructure Limited


Vision

Vision

  • Form 26AS to be complete and accurate

  • Increase awareness amongst tax payers of Form 26AS

  • Improve compliance

NSDL e-Governance Infrastructure Limited


Annual tax statement form 26as

Annual Tax Statement (Form 26AS)

  • A consolidated tax statement under Rule 31 AB of Income Tax Rules.

  • Includes financial year wise details of:

    • All tax deducted at source (TDS);

    • All tax collected at source (TCS); and

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

  • Also contains following additional information:

    • Details of paid refund if any

    • Details of transactions of mutual fund, shares, bonds reported by AIR filers, if any (F.Y. 2009-10 onwards)

    • Details of Form 26AS is as per information processed at TIN upto October 31, 2012

NSDL e-Governance Infrastructure Limited


Remember

Remember………

Availability or non availability of tax credits in your Form 26AS have a direct impact on:

  • Income Tax refunds claimed by you; or

  • Demand notices issued to you by Income Tax Department

NSDL e-Governance Infrastructure Limited


Form 26as feedback from pan holders

Form 26AS feedback from PAN holders

  • Credit does not belong to PAN holder

  • Deductor not taking corrective action

  • More than one entry for the same payment

  • Incorrect / incomplete credit

  • Credit not available

NSDL e-Governance Infrastructure Limited


Tax information network tin of income tax department managed by nsdl december 15 2013

TIN Process Architecture (Non-Govt.)

NSDL e-Governance Infrastructure Limited


Tax information network tin of income tax department managed by nsdl december 15 2013

Process Architecture

– TIN Process Architecture (Govt.)nt through book entry

DDO

PAO/DTO

TAX (TDS/TCS)

ERACS

ERACS

TIN - FC

TIN - FC

TDS/TCS reported through Transfer Voucher

RETURN

TIN CENTRAL SYSTEM

TIN VIEWS

ITD/ MOF VIEWS

DEDUCTOR VIEW

(RETURN STATUS)

NSDL e-Governance Infrastructure Limited


Tds tcs good practice

TDS / TCS – Good Practice

Preparation of return

  • Insist for PAN of deductee / employee

  • Verify PAN of deductee / employee before quoting in TDS/TCS return

  • Report all transactions where tax is deducted/collected

  • If PAN of the deductee / employee is not available;

    • deduct tax at higher rate

    • Select flag ‘C’ indicating tax deducted at higher rate in TDS return

    • File correction statement to update deductee / employee PAN if provided subsequently

  • Deduct tax as per the latest prescribed rates and correctly report the same in the TDS/TCS statement

NSDL e-Governance Infrastructure Limited


Tds tcs good practice contd

TDS / TCS – Good Practice contd….

Filing of return

  • within the due dates

  • at TIN-FC: .fvu file in CD / Pen drive along with physical Form 27A

  • Directly at TIN website

  • Preserve all Provisional Receipts (PRN)

NSDL e-Governance Infrastructure Limited


Tax information network tin of income tax department managed by nsdl december 15 2013

e-TDS/TCS Statements – Key points

  • Check status of return at TIN website

  • ‘Original’ return should be accepted at TIN

  • File correction return to make changes in the TDS /TCS return filed (original return should be accepted)

NSDL e-Governance Infrastructure Limited


Correction statement the need

Correction statement – The need

  • Inconsistencies in the statement to be rectified vide a correction statement

    • Incorrect challans details

    • Deductee PAN not provided correctly

    • Action based on notices from ITD

  • Accurate credit to reflect in the Form 26AS of the deductee

NSDL e-Governance Infrastructure Limited


Feedback to deductors

Feedback to deductors

  • Online views

    • Challan status

    • Quarterly statement status

  • Intimate rejections at TIN through Letter (Regular return)

  • SMS status of returns at TIN

NSDL e-Governance Infrastructure Limited


Cpc tds traces

CPC-TDS (TRACES)

  • The following functionalities have been discontinued at TIN:

    • TAN registrations

    • PAN registrations for viewing Form 26AS online

    • Form 16/16A generation

    • Generation of Form 26AS

    • Processing of correction TDS/TCS statements

  • These functionalities will be handled by CPC-TDS of ITD, Ghaziabad. Details are:

    • Website: www.tdscpc.gov.in

    • Contact no: 1800 103 0344; 0120 4814600

    • Email ID: [email protected]

    • [email protected]

14


Ain and form 24g

AIN and Form 24G

  • AIN is a seven digit unique number used to identify an office where tax has been paid without production of a challan

  • AIN is mandatory to file of Form 24G statement by PAO/ DTO/ CDDO to confirm TDS/TCS deposited.

  • AIN can be registered online at NSDL TIN website.

  • User ID and password to be provided by the PAO at the time of registration.

NSDL e-Governance Infrastructure Limited


Ain and form 24g1

AIN and Form 24G

  • Details of the AO filing Form 24G

    • AIN, Name of AO, demographic information, category of AO (Central/State, Ministry name etc)

  • Statement details

    • Month and Year for which Form 24G is being filed

  • Nature of deduction

    • TDS (Salary; Non Salary)/TCS

  • DDO wise payment details

    • TAN, Name of DDO, tax deducted and remitted

  • Due Date – 10th of subsequent month

NSDL e-Governance Infrastructure Limited


Ain and form 24g2

AIN and Form 24G

  • BIN is unique number generated for each Form 24G statement successfully uploaded at TIN.

  • BIN consists of the following.

    • Receipt Number: Seven digit unique number generated for each Form 24G statement successfully accepted at the TIN central system.

    • DDO Serial Number: Five digit unique number generated for each DDO record with valid TAN present in the Form 24G statement successfully accepted at the TIN central system.

    • Date: The last date of the month and year for which TDS/TCS is reported in Form 24G.

NSDL e-Governance Infrastructure Limited


Tax information network tin of income tax department managed by nsdl december 15 2013

THANK YOU

NSDL e-Governance Infrastructure Limited


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