E-File TDS statement
For the quarter ending on 31st March, 2018 by 31st may, 2018. For delay in filing TDS statement, the tax deductor has to pay a fine of Rs. 200/- for each day of default.
Download TDS certificate
- In Form No. 16/16A, containing 7 character TDS certificate number, mandatorily from TRACES portal. (TDS certificate downloaded from the TRACES portal only, is the valid certificate. TDS certificate cannot be downloaded from the TRACES portal in case the PAN is incorrect or not specified in the e-filed TDS statement)
- For deductions made from non-PAN non-residents, and reported in form 27Q, transaction based report (TBR) may be downloaded instead of TDS certificate.
Issue TDS certificate
- In Form 16 (on salary) and Form No. 16A (on income other than salary) for the quarter ended 31st March, 2018 by 15th June, 2018.
(Delay in issue of TDS certificate can result in penalty of Rs. 100/- for each day of default, not exceeding the amount of tax deductible/collectible)
Things to be remember
If there is no transaction liable to TDS/TCS to report for the quarter, do intimate the same at TRACES portal using “Declaration for Non filing” functionality, to avoid notice for non-filing of TDS statement.
- Deductors who have deducted tax and have not deposited the same by the due date must do so immediately.
- All deductors must register themselves at http://www.tdscpc.gov.in
- Quote correctly their TAN and also PAN of the deductees so that they get their due tax credit.
- Non-quoting PAN or TAN in TDS statement may lead to levy of penalty.
- Quote correctly CIN of the challan to avoid default for short payment.
- Deductors may avoid defaults about PAN and challan errors in preliminary screening, by responding to emails/SMS from CPC(TDS) within seven days of receipt of email/SMS.
- Use PAN-TAN Master facility at TRACES Portal to verify correctness of PAN of the deductee