E Tds Quarterly Data Preparation for the Assessment Year 2009-10.

1. Important Pre-Requisites & Instructions for quarterly eTDS Data Preparation A.Y. 2009-10 Vikram S. Mathur, FCA, DISA (ICAI) [email_address] +919998090111

3. TIN – Tax Information Network.

4. TIN-FC – TIN Facilitating Centre.

5. OLTAS – On Line Tax Accounting System.

6. ERACS - Electronic Return Acceptance and Consolidation System.

7. CPLGS - Central PAN Ledger Generation System .

8. VB – Visual Basic

9. RPU – Return Preparation Utility

10. FVU – File Verification Utility

11. Overview of the OLTAS, ERACS & CGPLS

12. Overview of TIN System

13. TDS Rate Chart

14. Form Numbers, Periodicity & Last Date of Submission for eTDS As per the Income Tax Act, 1961 [sections 200(3) and 206C] and the Income Tax Rules, 1962 [rules 31A/31AA inserted vide notification S.O.455(E) dated March 30, 2005 and amended vide notification S.O.928 (E) dated June 30, 2005], forms for TDS/TCS statements (F.Y.2005-06 onwards) and periodicity thereof are as follows:

18. SECTION 206A(1) – reference is made to proviso to clause (i) of sub-section (3) of section 194A. (Interest other than Interest on Securities).

20. The most critical requirement for improving tax-compliance is to have a tax regime where the compliance is easy, transparent and painless and non-compliance is risky and costly. The tax department is inundated with truckloads of documents that the taxpayers file and handling this paper mountain can become a breeding ground for inefficiency.

24. Finance (No. 2) Act, 2004, further amended section 206 of the Income Tax Act, 1961, making it mandatory for government deductors also to furnish e-TDS returns from F.Y. 2004-05. e-TDS returns are to be prepared in accordance with the data structure (file format) specified by ITD.

25. Finance (No. 2) Act, 2004 also amended section 206C of the Income-tax Act to provide for mandatory filing of returns of tax collection at source in electronic form (e-TCS). Following the scheme for filing e-TDS returns notified in 2003, an "Electronic Filing of Returns of Tax Collected at Source Scheme, 2005" has also been notified. It is mandatory for corporate and Government collectors of tax at source to file e-TCS returns. Other entities have the option to do so.

27. Deductors/collectors furnishing their quarterly e-TDS/TCS statements shall furnish the same to TIN-FCs managed by NSDL which have been set up across the country to facilitate deductors/collectors furnish their quarterly e-TDS/TCS statements. The latest list of TIN-FCs is available at the NSDL-TIN web-site www.tin-nsdl.com. Deductors/collectors may also directly furnish their quarterly e-TDS/TCS statements to NSDL through a web-based facility provided by NSDL at www.tin-nsdl.com.

30. Modes of Furnishing of Quarterly e-TDS Statements

32. Batch Header Record (BH): This contains particulars of deductor/collector, number of challan detail records, number of salary detail records (only for salary statement – Form 24Q-Quarter 4).

34. Deductee Detail Record (DD): This contains details of the transaction on account of which TDS/TCS was deducted /collected from deductee/party. It includes name, PAN of deductee/collectee, gross amount paid, TDS deducted/TCS collected.

36. Salary Details – Chapter VI A Detail* record contains details of deductions under section 80CCE (total deductions under Sections 80C, 80CCC and 80CCD) and OTHERS (other deductions under Chapter VIA). * To be provided only if applicable.

37. What are the Sections, their codes and what is covered therein?

38. General Notes on File Format Form 26Q

39. Format of File Header (Regular Form 26Q)

40. Format of Batch Header (Regular Form 26Q)

41. Format of Batch Header (Regular Form 26Q) Part II

42. Format of Batch Header (Regular Form 26Q) Part III

43. Format of Challan Detail Record (Form 26Q Regular)

44. Format of Challan Detail Record (Form 26Q Regular) Part II

45. Format of Challan Detail Record (Form 26Q Regular) Part III

46. Format of Challan Detail Record (Form 26Q Regular) Part IV

47. Format of Deductee Detail (Form 26Q Regular)

48. Format of Deductee Detail (Form 26Q Regular) Part II

49. Format of Deductee Detail (Form 26Q Regular) Part III

50. Example of Text File to be generated (Form 26Q Regular)

52. Submit the Text file through the FVU to generate the FVU File. (e.g. F26RQ3.FVU)

53. Write the FVU file generated onto a CD/Floppy.

54. Print a copy of Form 27A relating to submission. Get it signed by a person authorised under ITD (e.g. Proprietor / Partner / Director / Trustee etc.).

55. Submit the CD along with the Form27A to nearest TIN-FC.

57. From August 2007, ITD has released Visual Basic (VB) based Return Preparation Utility (Currently in version 1.60)

59. http://www.akvs.org/

60. http://www.charteredinfo.com/

61. http://www.cnergies.com/

62. http://www.fam-is.com/

63. http://www.tdspac.com/

64. http://www.etaxfile.net/

65. http://www.kdksoftware.com/

66. http://www.lakecityweb.com/

68. http://www.mdasoftwares.com/

69. http://www.ensolindia.co.in/

70. http://www.indiataxsolution.com/

71. http://www.pervsoft.com/

72. http://www.computaxonline.com/

75. Selecting appropriate eTDS Form

76. Select ‘Regular’ or ‘Correction’

77. Click ‘Continue’ to enter

78. Enter the details of the concern

79. Enter Challan Details

80. Enter Deductee Details

81. Click ‘Save’ to save data to Hard Disk /Pendrive

82. Click ‘Create File’ to directly generate FVU file

83. Locate the FVU and write it to appropriate media (CD/FDD)

84. Running the RPU Utility

85. Selecting appropriate eTDS Form

86. Select ‘Regular’ or ‘Correction’

87. Click to continue

88. Enter details of the concern

89. Enter Challan Details

90. Enter Deductee Details

91. Click ‘Save’ to save data to Hard Disk / Pen Drive 2 1

92. Click ‘Create File’ to directly generate FVU file (1)

93. Click ‘Create File’ to directly generate FVU file (2)

94. Locate the FVU and write it to appropriate media (CD/FDD)

96. Steps to Manually Generate TXT file & Validate using FVU 2.116

97. Why use VBA_eTDS_AY_0809.xla ?

98. What do I do if an error is generated while using VBA_eTDS_AY_0809.xla ?

99. Creating the Form 27A automatically.

100. Generating the Form 16A automatically.

101. Other Utilities included with VBA_eTDS_AY_0809.xla.

103. It has been developed in-house by CA Vikram S. Mathur.

105. Enter the Challan Details

106. Enter the Deductee Details

107. Optionally, maintain a list of Deductee’s seperately (for repeated use of same deductees)

108. Generate the TXT file

109. Validate using eTdS FVU 2.116

110. Ensure that these Uniformly refer to Form 26Q TAN of the Concern should be mentioned in the name of the file, should precede the Challan & Deductee sheet names Ensure that the correct quarter, year and financial year are selected Ensure to enter as many acknowledgement numbers as are applicable. This is used later in generating correction statements.