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Centralized Processing Cell (TDS)

Centralized Processing Cell (TDS). Deductor Functionalities @ TRACES. Existing Functionalities in TRACES. Progress since 30 th November,2012. CPC (TDS) Performance Statistics.

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Centralized Processing Cell (TDS)

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  1. Centralized Processing Cell (TDS)

  2. Deductor Functionalities @ TRACES

  3. Existing Functionalities in TRACES

  4. Progress since 30th November,2012

  5. CPC (TDS) Performance Statistics Committed to sustained tax compliance framework logon to www.tdscpc.gov.in

  6. Impact of CPC(TDS) 1 Growth in filers within due date (23% up over last year) 2 Growth in TDS payment within due date 3 Growth in TDS collections (19% growth against 8% growth in Non-TDS) 4 Reduction in TDS mismatch (matching more than 95%) 5 Reduction in PAN errors (97% valid quoting) 6 Better awareness among stakeholders (Tax professionals, Deductors and Department)

  7. Status of Default related issues

  8. Upcoming Functionalities in TRACES

  9. Roadmap ahead at CPC(TDS) 1 Short deduction default resolution on auto basis in case of corrected PANs using data of ITR filing of the deductee 2 Profiling of Deductors based on their compliance pattern using Business Intelligence tools 3 Facilitating deductors to populate valid and correct PAN using Data quality tool 4 Collating TDS compliance of branches at Corporate Level 5 Linking of TDS defaults with item no. 27 of Form 3CD Digital signature based access as an alternative to KYC based access 6

  10. Expectations from Deductors-correct TAN category

  11. Expectations from Deductors---quoting valid PAN Impact of Mentioning Invalid PAN in Statement • Incorrect TDS Certificates • Penal Action and Prosecution u/s 139A(5) • Section 139A is regarding Permanent Account Number . Sub-section (5) of section 139A of the I T Act makes it mandatory to quote PAN in return and at other times. The said provision is as under : (5) Every person shall (a) quote such number in all his returns to, or correspondence with, any income-tax authority; (b) quote such number in all challans for the payment of any sum due under this Act; • 277 provision will be applicable and prosecution will be done accordingly • 272B. (1) If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees.

  12. Expectations from Deductors—Late filing

  13. Expectations from Deductors- Implication of Correction • In respect of count of deductee row

  14. THANK YOU

  15. Deductor’sDashboard • Deductor’s Dashboard displays important information at one screen. The following information can be viewed by the deductor in its dashboard: • Statement Status: Processing status of the Statements of last four quarter along with Default Summary. • Communication Inbox: - To view the recent communication made between TRACES and Deductor. This also facilitates the downloading of Intimations sent to the deductor. • Summary of recent activity by the deductor. Back Deductor Dashboard on TRACES

  16. Online Corrections • This feature enables the Deductor to file Online Correction statements through TRACES portal without downloading TDS/TCS Consolidated File. • For this facility, the user needs to register its Digital Signature. • Currently facilities for PAN Correction and Matching of unmatched OLTAS challans are functional and more functionalities are planned to be added in near future Back

  17. Enhanced Version of Online Corrections • Apart from the currently available facilities for PAN Correction and Challan Correction. Following facilities are to be allowed • Add challan to statement • Modify/Add deductee row • Modify Salary details • Pay 220I, LP, LD late filing interest • Update of personal information Online Correction on TRACES

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  23. TDS Matching- Before CPC(TDS) TDS Mismatch at CPC ITR 26AS generated by ITD is used at CPC ITR Tax payer uses 16A for ITR filing Deductor files TDS statement to ITD TIN Tax Payer Deductor issues 16A to the Tax Payer Deductor

  24. TDS Matching- After CPC(TDS) Perfect TDS Match at ITR CPC 26AS generated by ITD is used at CPC ITR Tax payer uses 16A for ITR filing Deductor files TDS statement that goes to TDS CPC Form 16A is issed by TDS CPC to the Deductor Tax Payer Deductor passes Form16A to the Tax Payer Deductor

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