tds

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R.PADMANABHAN (Querist)
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09 June 2009 please send me the procedure for obtaining the Unique transanction Number (UTN) provided by the Income tax dept. I also want to know the date of applicability of the new form 16 & 16A. Urgent please.

CA Anisha Ray

CA Anisha Ray (Expert)
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09 June 2009 CBDT has issued Notification No 31 dated March 25, 2009 bringing out several changes in TDS compliance. The notification amends various rules w.e.f 01-04-2009.

TDS Payment
TDS payment is now to be made electronically by all deductors. Earlier only corporate and persons covered under mandatory tax audit were required to make payment electronically.
Electronic payment is now to be made in Form No 17
Form No 17
Form No 17 requires deductor to provide deductee wise PAN, Name and TDS amount
There are two columns Unique Transaction Number and PAN Valid Y/N . To comprehend these columns more information is needed.
New TDS Compliance Statement
New Form 24C in introduced
This form is to be submitted every quarter electronically
For each TDS section , monthly figures are to be given in respect of
Total expense or capital outgo under the section
Total amount on which TDS was to be deducted
Total amount on which TDS deducted at normal rate / TDS amount
Total amount on which TDS deducted at lower rate / TDS Amount
Total TDS = TDS at normal rate + TDS at lower rate
eTDS Statements
Form 24Q/ 27Q formats have been modified
In deductee wise details , Unique Transaction No is to be given
eTDS Statements in Form 24Q, 26Q,27Q are to be submitted only once a year on or before 15th June
Form 16 / 16A
Formats of 16/16A have been amended
Gross amount and TDS amount is to be given unique Transaction Number Wise
Whether PAN uploaded was validated by income tax department is to be shown separately
Several details not be given like : Date of payment, Chq No, BSR Code, CIN etc

Unique Transction Number ( UTN )
It seems the whole system is now going to be based in UTN
From the following chart it is clear that UTN is a common link between Challan, TDS certificate and eTDS Statement.
UTN will be provided by the income tax department.

The new rules wil be applicable from July 09.