Don't submit the ITR Return till you get UTN no from Company

Tax queries 3254 views 7 replies

Sorabh Gupta

Manager ( Taxation )

877 Points Joined July 2008

The important changes brought out through Circular no 2 which were not part of original Notification No 31/2009 are as under:

For deductions made during FY 2008-09(AY 2009-10) – To claim credit of TDS/ TCS, quoting of Unique Transaction No. (UTN) has been made mandatory. In the new Forms ITR-1 to ITR-8 for filing of Return of Income for Ay 2009-10, UTN information has to be included.

Therefore, NSDL would be providing UTN information (based on information submitted in quarterly filing of TDS return) to each deductor of TDS/TCS for AY 2009-10. In case the deductor had informed its email id to NSDL, this information would be sent by email or else the same can be downloaded from NSDL site. Facility would be provided to deductees also to view UTN.

Since the TDS/TCS certificates for Ay 09-10 are already generated and dispatched, the consolidated UTN information now received/downloaded from NSDL would have to be separately communicated to each of the deductee for the entire year. There is no format specified by the government for this. Once this information is made available by NSDL, we would come out with a standard template for the same, in order to have consistency. This would enable the deductees to claim credit of TDS/TCS in their return of income.

Please note that this applies to both Salary and Non Salary deductees and accordingly it is advised/be informed to all employees/deductees not to file their personal Return of Income without mentioning UTN, yet to be issued by NSDL.

SUMMARY - :

So , as changes with restropective effect from financial year 2008-2009 , so whether comapny gave TDS certificate to you OR not , company has to provide UTN no. to you for each TDS deduction from your salary otherwise in your ITR return you can't get the credit of TDS deducted by your company....................... In other words your TDS certificate has not been validated without the details of UTN no.'s.

So please contact to your comapny official for some more clarifications....................

Replies (7)

Attar Chand parmar

Service

27 Points Joined May 2008

Thanks Sorabh Ji

Thanks a lot Sorabh Ji.........

R.Suresh

Sr. Executive

394 Points Joined January 2008

In my company not get the UTN from NSDL. Now we are to whom going to contact can u please explain.

Sumit Jain

4760 Points Joined January 2009

thanx for sharing

Sorabh Gupta

Manager ( Taxation )

877 Points Joined July 2008

Dear R Suresh

Till date NSDL is not confirmed with the new changes . May be NSDL updated all the UTN no.'s & inform all the deductor & then your company can update you the UTN no.'s

So you should file ur ITR in july so that these changes has been confimed to all.....

Sorabh Gupta

Manager ( Taxation )

877 Points Joined July 2008

my dear DASHRATH MAHESHWARI

Please update urself fisrt & think twice before comments to any body..........for your kind information please read 02 / 2009

dated 21st May 2009 . Dear you are CA & it is ur moral responsibility to respect ur profession , ur institute & its members toooooooooo................ If any body gives half information then firstly you check it whether that person is right OR wrong and if wrong then firstly update yourself & then himself ..................... Keep in mind dear ................

Circular No.

CA. Dashrath Maheshwari

TaXpert

15116 Points Joined September 2007

Right sorabh,

quoting relevant text of the circular to support the view of Sorabh:

The return of income in Form No. ITR-1 to Form No.ITR-8 for Assessment Year 2009-10 have been notified which requires, amongst other, the quoting of the relevant UTN for every TDS or TCS claim made by the assessee. Therefore, the credit for any TDS or TCS claim will be allowed, amongst others, if the assessee quotes the relevant UTN for every TDS and TCS claim and the said UTN matches with the UTN in the database of the Income Tax Department. With a view to enabling the processing of returns relating to Financial Year 2007-08 (Assessment Year 2008-09) and enabling the assessee to receive the UTN for TDS and TCS transactions in the Financial Year 2008-09 (relevant for Assessment Year 2009-10), the following procedure shall be followed: -

(a) National Securities Depository Limited (NSDL) shall assign an UTN for every TDS and TCS transaction records in Financial Years 2007-08 and 2008-09, reported in the quarterly returns received by it.

(b) NSDL will create a facility to e-mail the UTN file to the deductor if the e-mail address of the deductor is available with them. In addition, they will also create a facility for the deductor to download the UTN file.

(c) Upon receipt of the UTN, the deductor will inform the UTN to the deductee. In cases where the UTNs are available to the deductor before the issue of the TDS/TCS certificate to the deductee, the deductor will indicate the UTNs on the certificate. However, if the UTNs are not available to the deductor before the issue of TDS/TCS certificate, the deductor shall, subsequently, send a consolidated statement of all TDS/TCS transactions indicating the UTNs.

(d) NSDL will also create a facility to allow independent viewing of the UTNs by the deductee. As a result, even if the UTNs are not received by the deductee from the deductor, they can be directly obtained from the NSDL database and quoted while making claims of TDS and TCS in the return of income.

Srinivas

29 Points Joined June 2009

Hi,

Looks like NSDL yet to update UTN details on its side for individuals to see in case employer fails to provide UTNs for TDS. I looked at my online annual 25AS statement. I could not find it. In case any got UTNs by this route could you please share whether you can see your UTNs. I just want to confirm if I am only facing this issue.

Thanks

Srinivas