TDS HELPFUL FILE

Help for Default Summary

Notes:

• Token Number column displays the token number of the regular statement and last two processed correction statements
• Order Passed Date column displays the order passed dates of the intimation pertaining to the token numbers displayed
• If there are more than two correction statements processed for the selected FY, Quarter and Form Type then token numbers of the last two statements in the processing order will be displayed
• Count of Correction Statement(s) is for the FY, Quarter and Form Type selected by user
• If there are no correction statements for the FY, Quarter and Form Type selected by user, then '0' will be displayed for Count of Correction Statement(s)
• Default Amount, Amount Reported As 'Interest / Others' Claimed in the Statement and Payable for demand type short deduction will be displayed as 'NA' (not applicable) for Q1, Q2, Q3 of Form Type 24Q as short deduction is calculated at end of Q4
• If a type of Default is not applicable for the statement, then 'NA' will be displayed for Default Amount or Amount reported as 'Interest / Others' Claimed in the Statement or Payable in Default Summary Details table
• Total Demand is the sum of Payable amount for all defaults pertaining to the statement
• Net Payable (Rounded-Off) amount is the rounded-off value of the 'Total Payable Amount'

·      Default Amount, Amount reported as 'Interest / Others' Claimed in the Statement and Payable are as per latest statement processed for the selected FY, Quarter & Form Type

• Count of Deductees Without PAN and Deductees With Invalid PAN are as per latest statement processed for the selected FY, Quarter & Form Type
• If there are no Deductees Without PAN or Deductees With Invalid PAN as per latest statement processed for the selected FY, Quarter & Form Type, then '0' will be displayed in respective columns
• Short Payment – Reason for Short Payment default:
• Challan / Transfer Voucher details (CIN / BIN, Amount and/or TAN), Mismatch of OLTAS / G-OLTAS data with statement data. E.g.,

Details As Per	BSR Code / 24-G Receipt Number	Date of Deposit / Transfer Voucher Date	Challan Serial Number / DDO Sr. No.	CIN / BIN Amount (Rs.)	TAN	Remarks
OLTAS/G-OLTAS	1234567	012220133	00001	10000.00	AAAA12345B	CIN, TAN and amount Mismatch
Statement	7654321	02122012	00003	20000.00	AAAA12345A

• Insufficient Challan / Transfer Voucher balance (Claimed amount in the statement against the CIN / BIN > balance available in OLTAS / G-OLTAS for a CIN / BIN). E.g.,

Details As Per	BSR Code / 24-G Receipt Number	Date of Deposit / Transfer Voucher Date	Challan Serial Number / DDO Sr. No.	CIN / BIN Amount (Rs.)	Claimed Amount / Available Amount (Rs.)	TAN	Remarks
OLTAS/G-OLTAS	1234567	22-Jun-2013	00001	10000.00	7,000 (Available Balance)	AAAA12345B	Insufficient Balance (Short Payment ` 3000.00)
Statement	7654321	02-Dec-2012	00003	20000.00	10,000 (Claimed)	AAAA12345A

• Difference between TDS deducted and TDS deposited in the deductee rows. E.g.,

TDS Deducted (Rs.)	TDS Deposited (Rs.)	Short Payment (Rs.)
10000.00	7000.00	3000.00

• Short Deduction – Reason for Short Deduction default:
• Invalid PAN and TDS have not been deducted as per the prescribed rate u/s 206AA (E.g., PAN-AAAA12345A mentioned in the statement is not valid)
• (a) No certificate issued from ITD, but deductor has claimed lower rate in statement
  (b) Validity of the certificate has expired, e.g.,

Date Till Certificate Valid	Payment Date	Remarks
26-Jun-2012	27-Jun-2012	Date of payment / credit > Date till certificate valid

• Other reasons (Threshold, Tax Rate, etc.)
• Interest on Short Payment:
• Interest on Short Payment is a provisional interest because interest on Short Payment has to reduce when deductor pays / files the correction statement to reduce the Short Payment amount and then 'Interest on Late Payment' shall be appropriately calculated till the date of actual payment. E.g.,

Date of Deduction	Order Passed Date	TDS Deducted (Rs.)	TDS Deposited< (Rs.)	Short Payment (Rs.)	Calculation (Date of deduction to order passed date)
31-Jul-2012	02-Nov-2012	15000.00	10000.00	5000.00	5 months* (Jul-Nov) @ 1.5% on ` 5000.00

• Interest on late payment
• Interest on Late Payment will be calculated on the amount which has been paid after due date from the date of deduction till the date of deposit. E.g.,

Date of Deduction	Date of Deposit	TDS Deducted (Rs.)	TDS Deposited< (Rs.)/th>	Late Payment (Rs.)	Calculation
31-Jul-2012	09-Aug-2012	15000.00	15000.00	15000.00	2 months* (Jul-Aug) @ 1.5% on ` 15000.00

• Additional Late Payment interest against the processing of latest correction
• Additional Late Payment interest = (Amount of late payment interest after processing the latest correction) minus (Amount calculated based on previous statement)

Interest on Late Payment based on Previous Statement (Rs.)	Late Payment after latest correction processing (Rs.)	Additional Late Payment Interest (Rs.)
1000.00	1600.00	600.00

• Interest on Short Deduction
• Interest on Short Deduction is a provisional interest because interest on Short Deduction has to reduce when deductor deducts / files the correction statement to reduce the Short Deduction amount and then 'Interest on Late Deduction' shall be appropriately calculated till the date of actual date of deduction.
• In case of salary, Short deduction will be calculated only when deductor files Annexure-II in Q4. E.g.,

Date of Deduction	Order Passed Date	TDS Deductible (Rs.)	TDS Deducted (Rs.)	Short Deduction (Rs.)	Calculation (TDS deductible to order passed date)
02-Jul-2012	02-Nov-2012	15000.00	10000.00	5000.00	5 months* (Jul-Nov) @ 1% on ` 5000.00

• Interest on Late Deduction
• Interest on Late Deduction will be calculated on the amount which has been deducted after due date from the date of payment / credit to the payee till the date of deduction. E.g.,

Date of Payment / Credit	Date of Deduction	TDS Deducte (Rs.)	Calculation
02-Jul-2012	05-Aug-2012	15000.00	2 months* (Jul-Aug) @ 1% on ` 15000.00

• Additional Late Deduction interest against the processing of latest correction
• Additional late deduction interest = (Amount of late deduction interest after processing the latest correction) minus (Amount calculated based on previous statement). E.g.,

Interest on Late Deduction based on Previous Statement (Rs.)	Late Deduction after latest correction processing (Rs.)	Additional Late Deduction Interest (Rs.)
1000.00	1600.00	600.00

• Late Filing Levy
• Late Filing levy has been calculated u/s 243E @ Rs.200/- per day from the due date of filing the statement till the date of filing of Regular Statement (from Q2 of FY 2012-13 onwards). Amount of Late Filing levy will be restricted to total amount of TDS deducted as per TDS statement. E.g.,

Due Date of Filing	Date on which Statement Filed	Actual Late Filing Levy (Rs.)	TDS Deducted as per TDS Statement (Rs.)	Late Filing Levy (Restricted) (Rs.)
15-Oct-2012	30-Oct-2012	3000.00 (15 days * ` 200 per day)	2000.00	2000.00

• Additional Late Filing levy against the processing of latest correction
• Additional Late filing Levy = (Late Filing levy after processing of correction statement) minus (Late Filing levy communicated earlier in intimation)
• Levy amount will be restricted to TDS deducted amount. E.g.,

Due Date of Filing	Date on which Statement Filed	Actual Late Filing Levy (Rs.)	TDS Deducted as per TDS Statement as per latest correction (Rs.)	Additional Late Filing Levy (Rs.)
15-Oct-2012	30-Oct-2012	3000.00 (15 days * ` 200 per day)	3500.00	1000.00

• As TDS deducted for Regular Statement was reported as ` 2000.00, hence Late Filing levy was also restricted to ` 2000.00. Later on deductor has filed correction statement and Total TDS Deducted increased to ` 3500.00. Hence, ` 3 000.00 (Actual Late Filing Levy) - ` 2000.00 (Late Filing levy) = ` 1 000.00 (Additional Late Filing Levy)
• Interest u/s 220(2)
• Interest u/s 220(2) will be chargeable in case demand is paid after expiry of 30 days from the date of 'Order Passed Date'. Assessee will be liable to pay simple interest @ 1% for every month or part of the month, commencing from the date immediately following the due date of demand order and ending with the day on which the demand has been paid. E.g.,

Demand Amount (Rs.)	Order Passed Date	Due Date for Demand Payment	Demand Paid (Rs.)	Calculation
5000.00	05-Oct-2012	04-Nov-2012		2 months* (Nov-Dec) @ 1% on ` 5000.00

*Note: Month is considered as a calendar month