Dear Deductor, (TAN XXXXXXXXXX)

Centralized Processing Cell (TDS) has observed that your TDS Statements for Q4, FY 2014-15 was filed late by more than 1/2/3/4/5/6 months. In this regard, your urgent attention is invited to timely filing of the Q4 TDS Statements for FY 2015-16, thereby improving your TDS filing compliance.

Please note that:

• The due date for filing of Q4 TDS Statements is May 15, 2016 for both Non-Government and Government Deductors.


• If you are not required to submit the relevant statement, you are requested to submit "Declaration for Non-Filing of Statements" under "Statements / Payments" menu after logging into TRACES.

Following are the relevant CBDT Circulars and provisions of the Income Tax Act, 1961 mandating filing of TDS Statements and Issuance of TDS Certificates downloaded from TRACES.

1. Mandatory filing of TDS Statements:

Please refer to the provisions of section 200(3) of the Income Tax Act, 1961 read with Rule 31A, which reads as follows:

Every person responsible for deduction of tax under Chapter XVII-B, shall, in accordance with the provisions of sub-section (3) of section 200, deliver, or cause to be delivered, the following quarterly statements to the Director General of Income-tax (Systems) or the person authorised by the Director General of Income-tax (Systems), namely:

• Statement of deduction of tax under section 192 in Form No. 24Q;


• Statement of deduction of tax under sections 193 to 196D in-


1. Form No. 27Q in respect of the deductee who is a non-resident not being a company or a foreign company or resident but not ordinarily resident; an
2. Form No. 26Q in respect of all other deductees.

It is, therefore, advised to file the applicable TDS Statements at the earliest to comply with the above provisions.

2. Implications of Non/ Late filing of TDS Statements:

• For Deductors: In case of late filing of TDS Statements, a fee shall be levied on the deductor u/s 234E of the IT Act which reads as under:
  - Where a person fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C, he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues


• For Tax payers: Non / Late filing of TDS statements results into the TDS Credit not being available to the deductees. They, therefore, will not be able to claim the credit for tax already deducted from the payments made to them. Please note that TDS Certificates will not be available until the TDS Statements are duly filed.



3. Actions to be taken:



• Improve your TDS Compliance by timely filing of Q4 TDS Statement within the due date i.e. May15, 2016.


• Issue TDS certificates after generating and downloading the same from TRACES. TDS Certificates downloaded only from TRACES Portal will be valid.



CPC (TDS) looks forward to your esteemed partnership in improving compliance and is committed to provide best possible services to you.




 

CPC (TDS) TEAM