FORM 17

thanx mr. sudhir

Dear All,

As I got understood the notification the same is as under:

1. The payment of TDS is made in OLD Challan form 281.

2. After such payment we are required to file form No. 17 in my view the same if return for challan form.

3. After submitting the same & getting the UTN we are required to file form No. 24C within the due date.

4. At the end of the year we have to file form no. 24Q/26Q/27EQ upto 15 June for all the four quarters.

So, the payment can be made online by using the link providing of the web www.tin-nsdl.com. I think there is no problem in payment, the same is in filing of Form 17 after making a payment.

Dear Akhilesh,

TDS Challan 281 will be discontinued from A.Y. 2010-11 if Form 17 comes into effect. One will have to pay TDS only in Form 17 from A.Y. 2010-11.

Respected Santosh Ji,

I think all are confused that payment is made through form no. 17 but the same is not correct. You just go to the e-payment portal of the NSDL site and made the payment for A.Y. 2010-11. You will find that the same is working and a challan receipt is generated for the same. Form no. 17 will be filled subsequently after making the payment becasue is we see the form 17 we will find some details about CIN, Date etc. which will be not available if the payment is not made. I have already made some payments.

So, I think there is no problem in making payment the problem is filing of form No. 17

Regards,

CA Akhilesh

 Dear Sir,
 

Go thro' this -

"Rule 30 (4) The person responsible for making deduction, or payment of tax, under ChapterXVII-B shall, within the time specified in sub-rule (1), or sub-rule (2), -

(a) electronically furnish an income-tax challan in Form No.17;  and

 (b) pay the amount so deducted to the credit of the Central Government by

electronically remitting it into the Reserve Bank of India, State Bank of

India or any authorised bank."

 Do u think what u think or interpret is correct. Pls give ur valuable input on this.

 Dear Sir,
 

Go thro' this -

Do u think what u think or interpret is correct. Pls give ur valuable input on this.

 "Rule 30 (4) The person responsible for making deduction, or payment of tax, under ChapterXVII-B shall, within the time specified in sub-rule (1), or sub-rule (2), -

(a) electronically furnish an income-tax challan in Form No.17;  and

 (b) pay the amount so deducted to the credit of the Central Government by

electronically remitting it into the Reserve Bank of India, State Bank of

India or any authorised bank."

 Do u think what u think or interpret is correct. Pls give ur valuable input on this.

As per attached notification new Form 17 (the challan for payment of TDS and TCS) is applicable only for payment of tax deducted or collected at source on or after 1st April 2009, but refer notified ITRs for A.Y. 2009-10 as per which TDS Schedule will require UTN. How it is possible?

Also if we pay TDS using the old form, than we can face problem while claiming credit of it because it requires UTN to claim TDS credit from the next AY.

So dont make haste as HASTE makes WASTE, better to wait for the next notification.

Hi Everyone,

Until the IT Department notifies the Form 17, the taxpayers cannot pay tax online through this new form. Furthermore,in this new form, the deductor has to mention the Unique Transaction Number(UTN) of each deductee. Till date the Dept. has not alloted any UTN's. Thus, for the month of April, the taxpayers must pay through the old form.

There are rumours spreading which say that TDS must be paid via the new form & one should not pay the tax deducted unless this form is released. I think this is ridiculous. It is always better to be on the safer side by depositing tax on the due date, rather than not paying.

Hi Everyone,

Until the IT Department notifies the Form 17, the taxpayers cannot pay tax online through this new form. Furthermore,in this new form, the deductor has to mention the Unique Transaction Number(UTN) of each deductee. Till date the Dept. has not alloted any UTN's. Thus, for the month of April, the taxpayers must pay through the old form.

There are rumours spreading which say that TDS must be paid via the new form & one should not pay the tax deducted unless this form is released. I think this is ridiculous. It is always better to be on the safer side by depositing tax on the due date, rather than not paying.

Dear All,

I think we all are too much confused. The payment of taxes is can be done by the same procedure i.e. paying online using NSDL link. Only the new requirement is that after payment we have to file New Challan Form 17 electronicaly. I want to draw your attention on the nofication the same is as under:

"Rule 30 (4) The person responsible for making deduction, or payment of tax, under ChapterXVII-B shall, within the time specified in sub-rule (1), or sub-rule (2), -

(a) electronically furnish an income-tax challan in Form No.17;  and

(b) pay the amount so deducted to the credit of the Central Government by

electronically remitting it into the Reserve Bank of India, State Bank of

India or any authorised bank."

Point (a) said that the deductor should submit form No. 17 electronically. and

Point (b) said that the amount so deducted to be credited to central goverment by electronically remittance. The meaning of electronic remmittance is that we have to pay the same using facility provided on NSDL site and after making payment as required in point (a) we have to file form No. 17 electronically.

So, there is no problem is making payment the problem is only in filing of form No. 17 as the last date of the same is 7th of the month & till date uitility for the same has not been prescribed. Further I wish to share with all of you that I have already made some TDS payments of my clients for the month of April & get the Challans.

So, be clear about the procedure.

Regards,

CA Akhilesh Mundra 

It is time when one should get united against ICAI or finance ministry like transportation body against un wanted change. The  present system is Ok wherein the deductor pays in Challan no. 281.and later files quarterly return (What has happaned to e payment of advance taxs.s.a.payment of Income tax and efiling of tds return.NSDLpeople are just enjoying by sending e mail that the given is the credit available to your PAN. without giving credit for advance tax/s.a.payment.)They are not contactable for the mistake to be rectified.) So the present form no.281 is ok.The ICAI in hand with finance ministry has ruined the life of assessee and CA and made them laoureous peon instead of owner and professionals.FORM No. 281 SHOULD NOT BE CHANGED TILL THEY GET FOOLPROOF SOLUTION.

Thanks for your form 17.But today is already 6th and as per your form 17 details of each deductee has to be filled in the form itself including respective PAN's, imagine for a concern having say 500 or more deductee and every thing has to be filled in online and obviousloy no data import facility would have been developed.Please advice what to do if the new form is not available till today.

Regards

Shankar Banerjee

Dear Sir,
 

On perusal of Form No. 17, on the top of the form it is written that

"INDIAN INCOME TAX CHALLAN FOR PAYMENT OF TDS and TCS"

So there is no confusion regarding pyt challan. Pyt of TDS deducted on or after 01.04.2009 should be made in Form No. 17 without any doubt. As rule 30(4) also. it is pretty much clearly worded that deductor must FURNISH Form No. 17 and PAY electronically. Just like, earlier we were FURNISHING ITNS 281 to the bank counter to PAY TDS. Rule 30(4) don't provide for two step payment procedure as u hv interpreted i.e. first pay in ITNS 281 & then furnish details of pyt in Form No. 17. No where in Rule 30(4) it is written that first u PAY & then u FURNISH details. If at all that was the contention of the Govt., Form No. 17 was named as "Statement of details of payment of TDS" but name of Form No. 17 is written as "CHALLAN FOR PYT OF TDS & TCS".

So give second thought by considering my above points.

The President of ICAI has written a letter to the CBDT, seeking clarification on New Form 17.  Hopefully, the CBDT will clear the confusion soon.