Excel for Chartered Accountants
TDS CPC Instructions for correct filing and revision of eTDS Quarterly Returns
Correct Preparation of TDS Quarterly Returns are important not only from the point of view of correct match of TDS Deducted but also for later revision of the TDS return if required. TDS CPC has in its latest communication dated 07-10-2013 has advised many precautions to be taken while preparing TDS Quarterly Returns, Statements.
The new TDS quarterly statements requires some new facts to be kept in mind which are reproduced as under:
Cancellation of TDS statement and deductee row
is no longer permissible. Accordingly, it is very important to report correct and valid particulars (TAN of the deductor, Category (Government/Non Government) of the deductor, PAN of the deductees and other particulars of deduction of tax) in the quarterly TDS statement.
Quote correct and valid lower rate TDS certificate in TDS statement wherever the TDS has been deducted at lower/zero rate on the basis of certificate issued by the Assessing Officer
Last provisional receipt number to be quoted in regular TDS/TCS statements. While filing new regular (original) TDS statement, it is mandatory to quote the last accepted provisional receipt number of the regular quarterly TDS/TCS statement of any form type
TDS statement can not be filed without quoting any valid challan and deductee row.
Late filing fee, being statutory in nature, can not be waived.
Download the PAN Master from TRACES and use the same to file new statement to avoid quoting of incorrect and invalid PAN .
Validate PAN and name of the fresh deductees from TRACES site before quoting it in TDS statement
Download TDS certificate (Form16A)
from TRACES and issue to the taxpayers within due date.
File correction statements promptly
in case of incomplete and incorrect reporting.
Download the justification report
to know the details of TDS defaults, if any, on processing of TDS statement
Do view your Dashboard regularly to know about your TDS performance.
