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Hello!!!!. ADVANCE TAX SELF ASSESSMENT TAX TDS/TCS OTHER MODES. COLLECTION OF TAXES BY IT DEPT. WHAT IS TDS. Certain Expenditure Paid to Certain Person Beyond Certain Limit In a specific period Is subjected to TDS. SALARIES. TDS ON.

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  1. Hello!!!!

  2. ADVANCE TAX SELF ASSESSMENT TAX TDS/TCS OTHER MODES COLLECTION OF TAXES BY IT DEPT

  3. WHAT IS TDS

  4. Certain Expenditure Paid to Certain Person Beyond Certain Limit In a specific period Is subjected to TDS

  5. SALARIES TDS ON

  6. Applicable to:Employees having Taxable Salary .(IF THE SALARY AFTER DEDUCTIONS IS MORE THAN THE BASIC EXEMPTION LIMIT) Person Responsible to Deduct:Any person responsible for paying any income chargeable under the head “SALARY”. The liability to deduct TDS on Salaries is on “PAYMENT BASIS” but not on due basis. Consider All Income; and ‘Loss only from House Property’ (if declare by Employee to Employer) AMOUNT OF TDS:Prescribed for the financial year in which the payment to employees is made CERTIFICATE:TDS certificate will be given to the employee in Form 16 annually on or before May 31 after the end of the financial year.

  7. AN EXAMPLE SHEET IS PROVIDED FOR YOUR IMMIDIATE REFERANCE EXAMPLE OF TAXABLE SALARY

  8. GENERAL PROVISIONS • EC and SHEC on TDS:During the F.Y. 2012-13, EC (2%) and SHEC (1%) will be applicable in the following cases- • 1.Tax deducted from payment of SALARY (where recipient is resident or non- resident). • If the recipient does not furnished his PAN to the deductor, tax will be deducted at the normal rate or at the rate of 20% (W/H)

  9. FORM 24Q FORM TO BE USED FOR TDS RETURN

  10. OTHER THAN SALARIES TDS ON

  11. Person Responsible to Deduct Tax: Any ‘SPECIFIC PERSON’ other than Individual, HUF who not subject to Tax Audit. Rate: 1% where payment is made to individual or HUF 2% where payment is made or credited to any other entity No TDS: Single payment is less than Rs.30,000/- Sum Aggregate paid in financial year is less than Rs.75,000/- If recipient is transport operator and has furnished his PAN to the payer, TDS rate is “NIL” SECTION – 194CTDS ON CONTRACTS

  12. SECTION – 194CTDS ON CONTRACTS The term ‘WORK’ includes: Advertising Broadcasting and Telecasting Carriage of goods & passengers Catering Manufacturing or supplying a product according to specification of customers by using material purchase from such customer. Tax shall be deducted at source- On the invoice excluding the value of material if such value is mentioned separately in the invoice. On whole invoice value, if value of material not mentioned seperatly. TDS is on Gross amount inclusive of Service Tax.

  13. Person Responsible for Deduction: All Assessee except Individual, HUF who are not subjected to Tax Audit Rate: On plant, Machinery or equipment  2% Land, building, furniture or fittings  10% No TDS:Aggregate amount of Rent paid (or) credited does not exceed Rs.1,80,000. Time:Credit (or) Payment which ever is earlier. SECTION 194ITDS ON RENT

  14. SECTION 194ITDS ON RENT • “Rent” means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or • arrangement for the use of any, • Land, building, • land appurtenant to a building, • machinery, plant, equipment, • furniture, fittings. • Any deposit given by the tenant which is adjustable against “future rent” in the nature of “advance rent” will be subjected to TDS • Tax to be deducted on non-refundable deposit and “no” TDS on “refundable deposit”.

  15. Any person not being an individual or HUF who is responsible for paying to a resident any sum by way of: Professional Services Fee Technical Services Fee Royalty Fee Payment Refund U/s 28(1)(Va) Rate:10% No TDS: Aggregate payment does not exceed Rs.30,000/- TDS is on Gross amount inclusive of Service Tax. Time: Credit (or) Payment which ever is earlier. SECTION -194JTDS ON PROFESSIONAL FEE

  16. FORM 26Q FORM TO BE USED FORTDS RETURN IS

  17. Due Date for remittance of Tds

  18. Quarterly return Filling Quarterly Statements. QuarterDue date 30th June  15th July. 30th Sep  15th Oct. 31st Dec  15th Jan. 31st March  15th June.

  19. The person is said to be default in respect of following non- compliance: Non/short deduction of tax at source. Non/Short payment of tax payable. Section – 191assessee in default

  20. The person responsible for Tax Deduction at Source shall be deemed to be assessee in default and liable to pay simple interest if he: Does not deduct the whole (or) Part of Tax. Fails to Remit to Government. Section – 220Interest on Tds

  21. Penality TDS and amount of Interest shall be charge up on all the assets of the person or company responsible to deduct and remit tax FaliuretoRemit

  22. DOWNLOAD THE RPU (RETURN PREPARATION UTILITY) FROM THE WE SITE OF NSDL https://www.tin-nsdl.com/etds-etcs/etds-rpu.php PROCEDURE FOR FILING THE tdS RETURN

  23. THE FORM IS TO BE OPENED

  24. IT WILL LOOK LIKE

  25. THE SELECTION OF THE FORM TO BE PREPARED

  26. PAGE – 1 FROM PAGE – 2 CHALLAN PAGE – 3 ANNEXURE THE THREE PARTS OF THE FORM

  27. THE OPENED FORM (PAGE-1)

  28. PAGE 1 AFTER SELECTING THE FINANCIAL YEAR AND THE QUARTER CONCERNED

  29. DETAILS OF DEUCTOR DETAILS OF PERSON RESPONSIBLE FOR DEDUCTION(AUTHORISED OFFICER) FOR GOING DOWN USE THE SCROLL BOTTON AT THE TOP RIGHT FILL THE FIELDS APPEARING IN THE FORM

  30. PARTICULARS OF PERSON RESPONSIBLE FOR DEDUCTION (THE CONCERNED OFFICER)

  31. PAGE – 2 DETAILS OF CHALLANS

  32. CLICK ON INSERT ROWS TYPE THE NO PRESS ENTER SELECT THE NO. OF ROWS DEPENDING UPON NO. OF CHALLANS

  33. THE WINDOW WILL APPEAR

  34. ONLY TDS COLUMN OTHER COLOUMNS ONLY IF NEEDED LIKE IF PAYMENT IS MADE LATE WE HAVE TO ENTER THE DETAILS OF THE INTEREST ETC., FILL THE COMPULSORY DETAILS

  35. FOR COL NO 12 - 22

  36. COL NO 19 NO(WE ARE NOT PAYING BY BOOK ADJUSTMENT) COL NO 22 SELECT THE CODE 200 (CODE 400 ONLY WHEN TAX IS PAID AFTER NOTICE FROM IT DEPT) OPTIONS

  37. NOW PAGE – 3 (1-11COL )

  38. IF WE ARE DEPOSITING TDS OF 4 PERSONS FOR ALL THE FOUR PERSONS THE CHALLAN NO SHALL BE 1 EXAMPLE TDS OF RS. 2500 IS DEDUCTED FOR FIVE PEOPLE SELECT CHALLAN NO 1 FOR ALL THE FIVE PERSONS CHALLAN SERILA NO

  39. FOR SALARIES 192A FOR CONTRACTORS SECTION 194C FOR PROFESSTIONALS SECTION 194J FOR RENT SECTION 194I SECTION

  40. GIVE THE SERIAL NO FROM 1 TO…. DEPENDING UPON THE NO OF PARSONS FOR EACH CHALLAN(IF ONE CHALLANHAS 5 PERSONS TDS AMOUNT GIVE 1…5 ) FOR THE CHALLAN NO 2 AGAIN START GIVING NO FROM 1TO ….. SR NO.

  41. COL NO 3, 4 AND 5 FROM THE CHALLAN PAGE AUTO FILL

  42. PAGE -3 (COL 12- 21)

  43. PAGE -3 (COL 22-30)

  44. SAVE : TO SAVE THE DATA ENTERED IN THE FORM OPEN: TO OPEN A SAVED TDS FILE AND A CONSOLIDATED FILE OF EARLIER TDS RETURN CREATE: TO CREATE THE FVU FILE (FILE VALIDATION UTILITY) THE THREE BUTTONS

  45. FILL THE RPU FORM IN TOTAL DOWNLOAD THE CHALLAN STATUS FILE WITH NSDL A CHALLAN STATUS FILE IS THE FILE OF CHALLANS PAID BY US IN THE BANK AND SAME IS SENT BY THE BANKER TO THE NSDL https://tin.tin.nsdl.com/oltas/ IN THE TDS RETURN BOTH SHALL MATCH FOR CREATING A FVU

  46. The web page for csi file

  47. ENTER THE TAN NO SELECT THE PERIOD FOR CSI FILE THEN CLICK ON DOWNLOAD CHALLAN FILE Select and enter the data

  48. AFTER SELECTING THE CREATE FILE

  49. ROW-1: SELECT THE CSI FILE ROW-2: FOR CORECTION (NOW #NA#) ROW-3: PATH OF THE FVU WHAT IS TO BE SELECTED

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