|What is Form 24Q||Form 24Q is the Quarterly return to be filed by any deductor (Employer) for all tax deductions at source made on behalf of 'Salary' payments.|
|What is Form 27A||Form for furnishing information with the statement of deduction of tax at source. It is a summary of eTDS return which contains control totals of 'amount paid' and 'income tax deducted at source'. This has to be mandatorily verified using FVU (File Validation Utility). Name and TAN of deductor and control totals of 'amount paid' and 'income tax deducted at source' mentioned on Form No. 27A should match with the respective totals in the eTDS return.|
|What is TDS||Companies making payments (specified under Income Tax Act) to third parties (deductees) are required to deduct tax at source (Tax Deducted at Source -TDS) from these payments and deposit the same at any of the designated branches of banks authorized to collect taxes on behalf of Government of India.|
|What is eTDS||Companies making payments should also furnish TDS returns containing details of deductee(s) and challan details relating to deposit of tax to IT Department. It is mandatory to furnish TDS returns in electronic form (eTDS return)|
|How do I file eTDS||It is mandatory to submit Form 27A generated by TDS FVU (File Validation Utility) duly signed, along with the TDS statement(s) towards eTDS returns. This can be achieved through TIN-Facilitation Centers (TIN-FC) established by NSDL or directly upload through NSDL web-site|
|Can I file eTDS online via NSDL without the help of a TIN Facilitation Center?||Yes 1. Login to the TIN central system () by signing with the DSC mapped with it. 2. On authentication of the DSC, you will get access to the online upload system. 3. Select 'Upload' option from the main menu and select sub option "TDS/TCS" and upload the electronic statement online to the TIN central system by digitally signing the upload. 4. The DSC will be authenticated by NSDL e-Gov. On successful authentication the electronic statement will be uploaded and a file reference number will be generated. 5.1 If DSC authentication fails the electronic statement will not be uploaded. 6. The status of the electronic statement uploaded can be viewed by selecting 'File Status' from the main menu. In case of an accepted electronic statement, a Provisional Receipt will be generated this will contain a Provisional Receipt Number/ Token number. The deductor can view/print the Provisional Receipt.|
|As an employer, is that mandatory to file eTDS||Yes|
|What is the periodicity to file eTDS||Quarterly|
|Any due date for eTDS filing?|
|What is FVU||File Validation Utility. This is provided by NSDL to verify the eTDS return format (clean text ASCII format). In greytHR, need not worry about the FVU version, file format etc. as the software generates the FVU verified file for eTDS return filing|
|What is Challan Number||Challan Number is a receipt number given by the bank branch where TDS is deposited. A separate receipt number is given for each challan deposited. You are required to mention this challan number while performing the eTDS return.|
|Can I update Challan Details in greytHR||Yes. Based on number of times you make payments, a quarter can have multiple challans. So system permits you to allocate employees in the challan whenever prompted so under Overview. You can also unallocate employees or even delete a challan. For details please refer docs at http://docs.greytip.in/display/GOIN/Form+24Q#Form24Q-ViewChallan|
|What is the procedure for generation of a FVU verified file for eTDS return, by using greytHR?|
|What is receipt number shown under Quarter Overview?||This is the acknowledgment number given on successful authentication of the electronic statement uploaded at NSDL e-Gov for the previous Quarter. This is termed as Token Number and earlier referred as Provisional Receipt Number|
|What is corrected TDS statement or Revision||Deductor is required to furnish one regular TDS statement for a particular TAN, Form, Financial year and Quarter. In case there are any additions/updates to be made to the details of the regular statement accepted at the TIN central system, the same should be done by furnishing a correction statement.|
|Why should I file a revised return/ corrected eTDS||In case of deficiencies in the accepted regular TDS statement such as incorrect challan details or PAN not provided or provided incorrectly, the tax credit will not reflect in the Form 26AS of the deductees in your statement. To facilitate compliance as well as correct credit in Form 26AS of the deductees you are required to remove deficiencies, if any, in the accepted regular TDS statement by filing a correction statement.|
|What are the different types of changes / corrections that I can make?|
C1 : Update deductor details such as Name, Address of Deductor.
C2 : Update challan details such as challan serial no, BSR code, Challan tender date, Challan amounts etc.
C3 : Update/delete /add deductee details
C4 : Add / Delete salary detail records.
C5 : Update PAN of the deductee or employee in deductee/salary details
C9: Add a new challan and underlying deductees.
|Do I need to file separate correction statements for various types of changes?||No. In case you need to update or add different deductees / challans in the same statement, it can be done in a single correction file. Depending on the type of correction a single correction file may contain multiple correction statements.|
|What is CTDS File?||CTDS is the Consolidated TDS Statement for a quarter|
|Why I require CTDS?||Deductor is required to furnish a quarterly TDS statement as per guidelines of the Income Tax Department. For any update in the quarterly TDS statement, a correction statement is furnished by the deductor / collector. Correction statement is to be prepared on the latest statement details (accepted) at TIN central system. Consolidated TDS statement provided by TIN consists of latest statement details i.e., the updates done vide correction statements (accepted at TIN central system).|
|How do I get Consolidated TDS File?|
|What is the procedure for submission of a correction statement/ file a revised return by using greytHR?|