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TAX INFORMATION NETWORK (TIN )

TAX INFORMATION NETWORK (TIN ). PROCEDURE FOR DEPOSITING TIN COLLECTIONS & REPORTING TO HO. DEPOSIT. Daily Collection at the branch in cash, cheque or DD to be deposited in HDFC Bank, KDMSL account on daily basis through CMS. Bank Name: HDFC BANK Account no: 00210340004676

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TAX INFORMATION NETWORK (TIN )

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  1. TAX INFORMATION NETWORK (TIN)

  2. PROCEDURE FOR DEPOSITING TIN COLLECTIONS & REPORTING TO HO

  3. DEPOSIT Daily Collection at the branch in cash, cheque or DD to be deposited in HDFC Bank, KDMSL account on daily basis through CMS Bank Name: HDFC BANK Account no: 00210340004676 CMS client Code: KDMSL CHQUE/DD CASH Deposit in HDFC Bank account using normal pay-in slip Deposit in HDFC bank using CMS Deposit slip only (FORMAT)

  4. REPORTING REMITTANCE TO HO DEPOSIT THE AMOUNT IN HDFC BANK USING CMS FACILITY REPORT THE REMITTANCE MADE TO HO ON DAILY BASIS IN THE SPECIFIED FORMAT CLICK FOR FORMAT

  5. MONTHLY REPORTS REPORTS TO BE SENT TO HO IN THE SPECIFIED FORMAT COLLECTION REPORT DEPOSIT DETAILS REPORT FREQUENCY FREQUENCY MONTHLY BASIS ON OR BEFORE 27TH OF EVERY MONTH MONTHLY BASIS ON OR BEFORE 27TH OF EVERY MONTH CLICK FOR FORMAT CLICK FOR FORMAT

  6. CMS DEPOSIT SLIP

  7. REMITTANCE REPORT FORMAT

  8. COLLECTIONS AND DEPOSIT REPORT FORMATS

  9. ACCOUNTING POLICY FOR TINFC

  10. ACCOUNTING AT REGIONS/ BRANCHES STEP 1 Regional office will record the cash collection entry in respect of cash collected at region office as well as branch offices as given below. Both the accounts heads are Balance Sheet items. Cost center need to be created branch wise for Tin (cash) Collection a/c.

  11. STEP - 2 At the time of deposit of cash in bank the region would pass the following entries.

  12. ACCOUNTING AT HO 2. Accounting of the total liability towards NSDL for uploads done during the month would be as follows. This would be passed on the basis of statement provided by TIN back office team. . 1. At the time of receipt of cash/ cheque in bank, HO will pass the following entries. These entries are based on bank statement.

  13. CONTD…… 3. Revenue would be recognized on the basis of forms uploaded on the NSDL server and accounting would be as follows . 4. At the same time we would be realize our money from NSDL as the money is lying with us. Accounting treatment would be as follows . .

  14. CONTD…… 5. In respect of payment made to NSDL , entries would be as follows . 6. In respect of payment of service tax , following entries needs to be passed . . Note: Region has to coordinate with branches on daily basis for cash receipt and deposit information

  15. THANK YOU

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