e-TDS/eTCS Return - www.tin-nsdl.com, incometaxindiaefiling.gov.in
e-TDS Return
The deductor is liable to deduct
TDS form certain payment and required to deposit to the government within the
specified time limit. The deductor also required to file a TDS return i.e.
e-TDS return quarterly. To understand the filing of TDS return in layman language
is nothing but providing the details of the Tax deducted from the person with
respect of their Permanent Account Number.
The Income Tax Department has
appointed NSDL as an intermediary to collect e-TDS return from the deductors. According
to Income Tax Act for specified payments, both corporate as well as
non-corporate entities are required to deduct TDS for the payment and deposit
the deducted amount with authorized banks to collect the amount of TDS on
behalf of government and file TDS return. Such TDS return should also contains
details of challan of the payment made by deductor and the details of the deductee(s)
i.e. Name of the deductee and CORRECT Permanent Account Number. Deductors can
directly upload the e-TDS return through NSDL website or can submit return at
TIN-FC center of NSDL.
A new scheme is launched by the
Income Tax Department from 2003, for filling of TDS return in electronic form.
From 1st june, 2003 onwards TDS returns are filled electronically. It
becomes compulsory for the government deductors also to file TDS return in electronic
form from the F.Y. 2004 – 2005.
The Scheme launched by the ITD is at the
following link
e-TCS Return
TCS means tax collected at
source. It is different from the TDS (Tax Deducted at Source).
In TDS, the deductor is the
person who is going make payment to other person (deductee) will deduct TDS
from the payment made to the deductee. But in TCS the person who is receiving
the amount means seller will deduct tax from the amount he received from the
buyer.
There are certain specified
businesses, where the seller has to pay TCS on the material sell by him to the
specified business.
The basic procedure is same as in
the TDS, i.e. the TCS collector has to deposit the collected amount to the bank
specified by the Income Tax Department and file the TCS return before the due
date. The Income Tax Department has appointed NSDL as an intermediary to
collect e-TCS return from the deductors.
A new scheme is launched by the
Income Tax Department from 2003 in which TCS returns filled in electronic form.
From 1st june, 2005 onwards TCS returns are filled electronically. It
becomes compulsory for all the deductors to file TCS return in electronic forms.
The Government deductors should also file TCS return electronically from the
F.Y. 2004 – 2005.
The Scheme launched by the ITD is
at the following link
From the F.Y. 2005 – 2006 the e-TDS/e-TCS
returns filled on quarterly bases
Deductor
|
Periodicity
|
Form
|
Corporates, Government
|
Quarterly
|
|
Departments / Organisations
|
Quarterly
|
|
mandatory to file in electronic form
|
Quarterly
|
|
Other deductors - may file in electronic form or
in physical form
|
Quarterly
|
|
Form 27A to be filed in physical form with each
return submitted through TIN-FC.
|
||
The e-TDS/e-TCS returns filed in
CD or pen drive at NSDL TIN FC center along with the Form 27A/27B in physical
form. Form 27A contains the total of amount paid and TDS deducted in e-TDS
return filled in Form 24, 26 or 27. Form 27B contains the details of amount
paid and TCS collected in e-TCS return filled.
The control total of form 27A/27B
will be match with the control totals of e-TDS/e-TCS
Procedures and Guidelines for
preparation and furnishing e-TDS/e-TCS return – Click Here
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