FORM 17

Form No. 17 is an electronic form. It will be made available at NSDL's site. Till now, the form is not available.

It appears that, Government might be considering some changes. May be, some relexation will be given.

The Form 17 is being attached herewith.

 thanks sudhir ji

As it is not possible to process the payment of TDS manually as earlier for the companies having huge volume of deductees under Form 17C, and also the software vendors for TDS processing are still awaiting the approval from the Income Tax department therefore in the present scenario it seems that still there is no clarity and there should be some extention for the new notification and the old Challan 281 should be accepted for April,2009

Mr. Vipul is right. While the new Form No. 17 is available everywhere, the exact procedure for filing electronically is yet awaited, especially the Software vendors will be able to upgrade only after the new budget is passed later this year.

Still Form No 17 is not uploaded on the income tax site and even the local income tax dept. are not clear about its applicability. Under such circumstances can we pay the TDS of April 09 under challan No. 281?

Pl. advise

N K Chinoy

Payment through Challan No. 281 may not be valid. The due date for Apr'09 is 7th May. It is expected that, new form will be available by then.

Since it is a question of system & technology, local Income Tax dept. may not be any help for the moment.

If payment through Challan No 281 is not going to be valid then why it has not been removed from the incometaxindia site. On the contrary through internet banking for paying on-line taxes through tin.nsdl or income taxindia site even the Asessment yaer 2010-11 has been updated while filling challan 281. moreover even the banks are accepting the TDS payments for currnet financial year through challan 281. In fact the whole state of affairs has created confusion. Even today's Economic times (Ahmedabad Edition) carries an article that the Govt is reconsidering the implementation of Form No 17 because their systems are still not geared up for meeting the technical requirements.

N K Chinoy

I checked from the banks and they have still not get any instructions from the Income-tax Department.

After getting the format from the Income-tax Department, banks will need to integrate with their own system and it will take time and may not be possible on or before 7th May, 2009.

One more thing is that, this new system will mean that assessee should not do any business with the person whoc does not have a PAN Number.

In case non-resident employees, PAN number is not allotted without FROO registration and it takes 2-3 weeks thereafter, department will take 2-4 weeks in issuing PAN No. Due to this there will be default when non-resident employee comes to India

THE NEW FORM INTRODUCED BY THE IT DEPT., HAS ONLY CREATED MORE PROBLEMS AND CONFUSION THAN SIMPLIFYING THE SYSTEM.

THE DEPT. HAS MADE PAYING OF TAXES ON-LINE, BUT TILL DATE MANY OF GOVT. DEPARTMENTS, ONLINE PAYMENT MECHANISM YET TO BE IN PLACE. THIS MAY TAKE CONSIDERABLE AMOUNT OF TIME.

I FEEL INCOME TAX DEPARTMENT, BEFORE MAKING THESE CHANGES SHOULD HAVE TAKEN THE VIEWS OF THE STAKEHOLDERS.

Finally, What is the procedure of payment of tds for the month of Apri-09? How to prepare Form 17?
please give me advice.   Just don't rotate message half-boiled, The answer should be as applicable or helpful to the Question raised person.

What is the procedure of payment of tds for the month of Apri-09? How to prepare Form 17?

please give me advice. 

Just wait & Watch