Changes in Return filing

Changes in Return filing

1.       Earlier Forms:

a.       Earlier quarterly returns namely, Form 24Q, 26Q, 27Q and 27EQ remains as it is, with a little change in File structure.

                                                   i.      UTN has to be mentioned against each deduction.

b.      Quarterly Due dates for all the forms have been removed and annual due date of 15th June introduced.

                                                   i.      These forms have to be prepared quarterly and can file at the end of the year, before June 15th.

2.       New Form:

a.       New Quarterly return, Form 24C introduced with following contents.

b.      With the Deductor information, Form 24C should contain Details of TDS Compliances for 3 months separately and the Challan Identification Numbers/Amounts in that quarter.

c.       Details of TDS Compliances should contain the section wise (all)  information of Total Payment, Total amount eligible for deduction, Total amount considered for TDS at full rate, Amount of TDS at full rate, Total amount considered for TDS at lesser rate, Amount of TDS at lesser rate, Total TDS.

d.      The due dates are same as earlier quarterly returns.