TAX INFORMATION NETWORK (TIN) of Income Tax Department
Download
1 / 18

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


  • 86 Views
  • Uploaded on
  • Presentation posted in: General

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.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha

Download Presentation

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

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


  • TAX INFORMATION NETWORK (TIN) of Income Tax Department

    • (Managed by NSDL)

    • December 15, 2013

NSDL e-Governance Infrastructure Limited


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

  • 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)

  • 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………

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

  • 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


TIN Process Architecture (Non-Govt.)

NSDL e-Governance Infrastructure Limited


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

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….

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


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

  • 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

  • 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)

  • 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: contactus@tdscpc.gov.in

    • tds_techops@msp.tdscpc.gov.in

14


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 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 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


THANK YOU

NSDL e-Governance Infrastructure Limited


ad
  • Login