TDS Reconciliation Analysis and Correction Enabling System helps the deductors and the deductees by efficient and effective administration of the taxation system. It aims at improving the end-user satisfaction by providing timely and appropriate web services.

Delay in filing TDS:

As per section 234E w.e.f. July 1, 2012, if a person fails to submit TDS return on the due date, then a penalty of Rs. 200/- per day is charged till the default continues. However, the amount should not exceed the total tax amount.

Non-filing of TDS/Furnishing incorrect info:

Penalty is also levied in case of non-filing or if some incorrect information has been furnished. The amount should not be less than Rs. 10,000/- and not more than Rs. 1,00,000/- u/s 271H of the IT Act, 1961.

• Download the zip file from ‘Requested Downloads’ screen and save it in your system.
• Unzip the file using Winzip. Password to unzip is ‘JR____’, eg. JR_AAAAA1235A_24Q_Q3_2010-11. This will save the justification report as an excel file.
• Download the macro utility for Justification Report from the screen.
• Double-click on utility, excel sheet will open.
• Click on enable content in the warning message to enable macros.
• Select the Justification Report text file and the folder to save the output excel file and click on the button ‘Generate TDS CPC Justification Report’.
• The text file will be converted into excel spreadsheet and saved in the selected folder.
• Open the Justification Report excel file from the concerned folder.

TDS/TCS returns filed in electronic form as per section 200(3)/206C, as amended by Finance Act, 2005, are quarterly TDS/TCS statements.

As per the Income Tax Act, these quarterly statements are required to be furnished from FY 2005-06 onwards. However, as advised by Income Tax Department, acceptance of e-TDS/TCS statements pertaining to Financial Years prior to 2007-08 has been discontinued at the TIN.

The forms used for quarterly e-TDS statements Forms are 24Q, 26Q and 27Q and for quarterly e-TCS statement is Form No. 27EQ. These statements filed in CD/Pen Drive should be accompanied by a signed verification in Form No. 27A in case of both, e-TDS/TCS statements.

Tax Information Network (TIN) is an initiative by Income Tax Department of India (ITD) for the modernization of the current system for collection, processing, monitoring, and accounting of direct taxes using information technology. TIN is a repository of nationwide Tax related information and has been established by NSDL e-Governance Infrastructure Limited on behalf of ITD.

As per Income Tax Act, 1961, all corporate and government deductors/collectors are compulsorily required to file their TDS/TCS statements in electronic form i.e. e-TDS/TCS returns. However, deductors/collectors other than corporate/government can file either in physical or in electronic form.

FVU is a utility provided by NSDL to verify the e-Return (Text file) generated by the deductor, with the format prescribed. FVU takes an Input file and generates a report and *.FVU File.

FVU checks the text file with the format prescribed by NSDL. The deficiencies found in the file are known as errors. This may be due to invalid data provided or dates/amounts out of limits, etc