194i tds
This query is : Resolved
09 July 2013
Dear Experts :
As i Have deduct & remit TDS on rent paid for the period of 01.04.2013 to 30.06.2013. Now, in RPU 3.5 Version no such code (194I)is showing. How to file the TDS for this 1st Quarter of FY.2013-14. Many experts saying that 194I is bifurcated now. Kindly advice what to do next ?
As i Have deduct & remit TDS on rent paid for the period of 01.04.2013 to 30.06.2013. Now, in RPU 3.5 Version no such code (194I)is showing. How to file the TDS for this 1st Quarter of FY.2013-14. Many experts saying that 194I is bifurcated now. Kindly advice what to do next ?
09 July 2013
Section 194I has been bifurcated as below:
Select value 4IA from the section code drop down where tax has been deducted under section 194I (a)
Select value 4IB from the section code drop down where tax has been deducted under section 194I (b)
Select value 4IA from the section code drop down where tax has been deducted under section 194I (a)
Select value 4IB from the section code drop down where tax has been deducted under section 194I (b)
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09 July 2013
Key features of RPU 3.5
• Addition/ deactivation of fields Change in quarterly TDS/TCS statement pertaining to FY 2013-14 onwards as below:
o Alternate contact details like e-mail and contact no. of the deductor and responsible person may be provided.
o Quoting of TAN registration no. (if any) as provided by TIN.
o Minor head code is to be provided in challan details for tax deposited through challan.
o Late fee is to be provided in challan details applicable from FY 2012-13 onwards.
o No details to be provided for cheque no. and section code in the challan details.
o Section code to be provided in deductee/collectee details.
o Introduction of new section code Form no. 24Q: Section 92C has been added which is applicable in case payment is made to Union Govt. employees.
o Section 194I has been bifurcated as below:
Select value 4IA from the section code drop down where tax has been deducted under section 194I (a)
Select value 4IB from the section code drop down where tax has been deducted under section 194I (b)
o Lower/ No deduction certificate no. to be provided in the deductee details.
o In the annual salary details (24Q, Q4 – Annexure II) break up to be provided for the salary paid and the tax deducted by the current employer and previous employer during the current Financial Year.
o Introduction of fields for quoting foreign remittance details in Form no. 27Q as below:
Nature of remittance
Whether TDS rate of TDS is IT act (a) and DTAA (b)
Unique acknowledgement of the corresponding form no 15CA (if available)
Country to which remittance is made
o Introduction of value “Z” in the field Remarks for lower or no deduction. Applicable in case of no deduction on account of payment under section 197A (1F).
o In the annual salary details (24Q Q4 – Annexure II) records to be highlighted whether the tax has been deducted at higher rate.
• Quarterly TDS/TCS statement (regular and correction) can be filed only for FY 2007-08 onwards.
• Discontinuation of “Y” type of correction statement.
• RPU version 3.5 is applicable w.e.f 01/07/2013.
• Addition/ deactivation of fields Change in quarterly TDS/TCS statement pertaining to FY 2013-14 onwards as below:
o Alternate contact details like e-mail and contact no. of the deductor and responsible person may be provided.
o Quoting of TAN registration no. (if any) as provided by TIN.
o Minor head code is to be provided in challan details for tax deposited through challan.
o Late fee is to be provided in challan details applicable from FY 2012-13 onwards.
o No details to be provided for cheque no. and section code in the challan details.
o Section code to be provided in deductee/collectee details.
o Introduction of new section code Form no. 24Q: Section 92C has been added which is applicable in case payment is made to Union Govt. employees.
o Section 194I has been bifurcated as below:
Select value 4IA from the section code drop down where tax has been deducted under section 194I (a)
Select value 4IB from the section code drop down where tax has been deducted under section 194I (b)
o Lower/ No deduction certificate no. to be provided in the deductee details.
o In the annual salary details (24Q, Q4 – Annexure II) break up to be provided for the salary paid and the tax deducted by the current employer and previous employer during the current Financial Year.
o Introduction of fields for quoting foreign remittance details in Form no. 27Q as below:
Nature of remittance
Whether TDS rate of TDS is IT act (a) and DTAA (b)
Unique acknowledgement of the corresponding form no 15CA (if available)
Country to which remittance is made
o Introduction of value “Z” in the field Remarks for lower or no deduction. Applicable in case of no deduction on account of payment under section 197A (1F).
o In the annual salary details (24Q Q4 – Annexure II) records to be highlighted whether the tax has been deducted at higher rate.
• Quarterly TDS/TCS statement (regular and correction) can be filed only for FY 2007-08 onwards.
• Discontinuation of “Y” type of correction statement.
• RPU version 3.5 is applicable w.e.f 01/07/2013.
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