Chandigarh : Due to 15th January Sunday, Today is the last date for filling 3rd Quartered TDS return of F.Y. 2011-2012, Heavy rush was witnessed at Sector 22 Tin Facilitation Centre as there were Long queue of authorized persons of Private firms and companies to file the TDS return of 3rd quarter of current financial year.Govt office employees were also seen at the TIN Facilitation for filling return of their department.
At the centre CA Manoj Kohli incharge of TIN Facilitation Centre sector 22 said that recently income tax department issued notification that from 3rd Quarter Govt Assesses date was extended upto 31st January 2012. Ca manoj kohli also highlighted that income tax department issued a letters to almost all entities for inconsistency in TDS return and we are educating the deductors for giving complete information regarding Challan Status, correct PAN, correct BSR code for filling of correct TDS return. We also further guide that in the previous years if any inconsistency reported by the income tax department then they will file the correction statement, mostly errors reported by the income tax department is regarding Invalid PAN, wrong PAN, and mismatch of challan number.
CA Manoj Kohli further added that as per new provisions of tax deduction at source (TDS) under the Income Tax Act 1961 effective from April 1, 2010, TDS will be deducted at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available.