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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. 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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Presentation Transcript
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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

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TIN Process Architecture (Non-Govt.)

NSDL e-Governance Infrastructure Limited

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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

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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:

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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

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THANK YOU

NSDL e-Governance Infrastructure Limited

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