The following points are required to be considered to make sure that an error-free TDS return is submitted :
- Form 27A contains a control chart whose all columns must be filled. This form is then verified in hard copy form with the e-TDS return filed electronically.
- The totals of the amount paid and the tax deducted at source have to be correctly filled and the same has to be filled in all the forms, including Form No. 27A, Form No. 24, Form No. 26 and Form No. 27.
- The assessees are required to mention their Tax Deduction Account Number (TAN) in Form No. 27A. This is similar to what is done in case of e-TDS return. This is dictated by ‘sub-section (2) of section 203A of the I-T Act in India’.
- At the time of filing the TDS return, ensure that details relating to the depositing of tax deducted at source have been mentioned accurately.
- The basic form that has been used for e-TDS return recommended by the department is compulsory to follow. This is because it brings consistency and better understanding in filling the forms. It is necessary to mention the Bank Branch Code or the BSR code. It is a 7-digit code provided to the banks by the Reserve Bank of India.
- E-TDS return has to be filed in the ASCII clean text format. To avail this format, you can use software of your choice such as Computex, MS Excel or Tally. Also, you have an option of using the software available at NSDL website known as Return Prepare Utility (e-TDS RPU Light) for filing the return online. It is important to ensure that the online TDS file formats come with ‘txt’ as the filename extension.
- The physical returns are submitted at any TIN-FC’s managed by NSDL. TIN-FC’s are found at specified areas across the country.
- If returns are filed online, then they can be submitted directly at NSDL TIN website. In this case, the deductor has to sign the return through digital signature.
- While submitting the return, if all the information mentioned is accurate then a provisional receipt/token number would be issued. This provisional receipt/token number is considered as an acknowledgment, stating the fact that the return has been filed. In case, the return is not accepted, then a non-acceptance memo will be issued along with the reasons for rejections.