TMI BlogTDS & allied matters.X X X X Extracts X X X X X X X X Extracts X X X X ..... /IT(B) dated 19.9.1988 regarding implementation of a changes in administration of TDS. iv. Circular No.529 F.No.275/3/89/IT(B) dated 10.3.1989 regarding issue of unified form of tax-deduction certificate (Form No.16) v. Letter F.No.275/103/88-IT(B) dated 10.3.1989 containing guidelines regarding issue of TDS certificate books. vi. Letter F.No.275/17/89-IT(B) dated 7.3.1989 regarding designation of income-tax authorities for purposes of section 206 of the Income-tax Act. 2. Member (R A), Central Board of Direct Taxes also addressed a D.O. Letter No.273/17/89-IT(B) dated 29th September, 1989) to all the Chief Commissioners for giving due importance to the TDS work and for posting adequate number of officers and staff in the TDS circle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N for all kinds of payments from which tax is deductible at source. The format of this Register is given in Annex-II. This register will help the ITO(TDS) to monitor allotment of TAN. Survey of persons responsible for tax deduction will be necessary to ascertain whether these persons are complying with the provisions relating to deduction of tax at source. This register will also help the Department to know whether such a person has applied for TAN or not. This Register will be a permanent record. (b) and (c) TDS Control Registers No.1 and No.2 and Alphabetical Register of Employers: The TDS Control Register No.1 will contain the relevant particulars of every office of Government or local authorities responsible for deducting tax at s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cessary action is taken, after entering the case in the D CR (TDS), date of checking the return will be indicated below the date of receipt in the relevant column. These registers will serve as a useful tool for monitoring the receipt of the annual returns and follow up action thereon. It is clarified that the existing alphabetical register of employers (ITNS-118) will continue to be maintained with the modifications that the source document for making entries in that register will be the monthly certificate of TDS required to be furnished by the employers in Form No.23. The format of this register is given at Annexe-V. The TDS Control Register No.2 also contains a column designed for entering the date of receipt of return in Form No.27 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng to deduction of tax at source will be got entered in this Register by ITL(TDS) with cross reference of serial No.in D CR(TDS). The new format of this Register is given at Annexe-VII which replaces the existing Daily Collection Register for TDS. This Register combines deduction of tax at source from all types of payments by companies and non-companies. The collections should, however, be entered in the relevant columns provided for each types of payments separately. Collections relating to penalty and interest should be entered in Columns specifically prescribed for this purpose. (f) Register of penalties This register is common for keeping record of penalties initiated and levied u/s 271C, 272A and 272BB of the Income-tax Act (Annexe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction for short deduction/payment or no deduction is taken urgently. A separate register known as "Special Watch Register" (Register for statements in Forms No.21 and 22 may be maintained, the format of which is given at Annexe-X. III. Maintenance of Records A separate Tax Deduction File should be maintained for cases of tax deduction at source in respect of each source of payment, where short deduction/short payment or late payment has been found or where the case has been considered fit for initiation of prosecution proceedings. Accordingly, statement/return received from the tax deductor, demand notices/intimation letters/papers regarding penalty/interest, counterfoils of challans etc., shall be kept in this folder. Other returns a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly done because the ITO (TDS) would have already received a copy of the TDS certificate directly from the tax deductor alongwith the relevant annual return. The particulars of the certificate shall also be checked with entries in the relevant return received by the ITO (TDS). Such a verification should be done by the Assessing Officer on a sample basis soon after receipt of returns of income by him so as to avoid any delay in the processing of returns of income vide section 143(1)(a) and issue of refunds, if any. The ITO(TDS) should cooperate with the Assessing Officer in the matter of such a verification, whenever required. The percentage of certificate to be subjected to cross verification has been left to the discretion of the respective ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
