Tax Deducted at Source Certificate -Individual Taxation

TDS certificate is issued by the person who deducts tax at the specified rate while paying a sum of money to the recipient and confirms that he has deposited the same to the department so that the recipient can take the credit of the same. A TDS certificate must contain the following:- • Name and Address of the Deductor and Deductee. • Pan No of both the Persons and • Quarterly details of Amount paid, Tax deducted Etc. • TAN number of deductor TDS certificate must be issued by the employer in case of Company to the employee where company is liable to deduct tax at source. In other cases person who is responsible to pay the amount to the recipient. To claim the credit of Taxes paid assessee must have the TDS certificate from the deductor to ensure that tax has been deposited to the government. Further, you can also see the tax credit available on your PAN account through online on www.incometaxindia.gov.in under 26AS. At times, the taxpayers is not able to get the TDS certificate from the deductor on time in that case there is a common question arises whether I will get the credit or not? In such cases the best way to resolve the thing is to log on to www.incometaxindia.gov.in and check whether any credit is available on the same under 26AS. What ever be the credit available there can be claimed by the assessee with out any hassle. On www.incometaxindia.gov.in under 26AS one can easily find the following for any assessment years:- • TDS deducted and its details. • Advance Tax Paid and its details • Self Assessment Tax Paid and its details • Refund due, if any and its status. There may be some cases where the TDS certificate is not drawn as per the statutory requirements or some of the information are not correct in such a cases one can ask the issuer to rectifies the mistakes and issue a new certificate. Is Digitally Signed Form 16 is Valid? Circular No. 2/2007, Dated 21-5-2007 passed to give effect to this issue. Issues have been raised in the board that same of the companies have large no of employees with them and issuance of manually signed form 16 to each and every employee becoming very time consuming. So the act had been passed to issue Form 16 in digitally signed by the employer. We www.taxmantra.com have the specialised team to streamline all the affairs relating to the issuance of TDS certificate and to solve the queries related to the TDS credit or reconciliations. Do feel free to contact us for any queries. Taxmantra.com provides most hassle free tax return filing/ online return filing experience. Once you have collected, your salary certificate and other documents, we request you to please log in to www.taxmantra.com/ereturns or you can also directly mail at info@taxmantra.com to submit the details. Upon receiving the documents, we would contact you to file your return of income.

Leave a Reply

Your email address will not be published.