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Major changes in TDS Compliance

Posted on 01 April 2009,    
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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.
  • How this number will be provided by the department – we have to wait and watch


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