TDS is an important compliance rule for taxpayers and involves uploading TDS returns online. The process of uploading the returns on the National Securities Depository Limited (NSDL) website and the income tax site is explained in detail, along with the relevant terms and conditions.
In this section, we will explore the complete process of uploading TDS returns using Electronic Verification Code (EVC) and how to view the uploaded TDS returns online. The details of the process are explained in a clear and concise manner.
The terms and conditions for uploading TDS statement on the NSDL portal
- To upload TDS returns, it is necessary for the user to have a valid Tax Deduction and Collection Account Number (TAN) and be registered for e-filing. The Return Preparation Utility (RPU) must be used to prepare the File Validation Utility (FVU) file. These steps are crucial for a successful TDS return upload.
- Users can download the Validation Utility from the TIN-NSDL website (http://www.tin-nsdl.com/) to assist with the validation process. This tool is important in ensuring the accuracy and validity of the TDS return file.
- To facilitate uploading of the TDS return, users must pre-validate the Bank Account/Demat Account details of the principal contact or link their PAN with Aadhaar, using EVC. This step is important for authentication purposes and must be completed before the upload process.
The step-by-step process to upload TDS Return Statement online.
The first step towards uploading the TDS return is to click on “Login Here” located on the E-Filing Homepage. This will initiate the login process and enable the user to access their account.
After accessing the login page, the user must enter their User ID (TAN), password, and captcha code, and then click on the Login button. This will authenticate the user’s account and enable them to proceed with the TDS return upload process.
Once the user has successfully logged in, they should proceed to the TDS Upload section to access the TDS section. This section is specifically designed to facilitate TDS return uploads and contains all the necessary tools and resources to complete the process.
In this step, the user should select the appropriate details from the dropdown boxes provided in the TDS return upload form. This includes selecting the appropriate financial year, form type, and filing type, among other details. These details are critical in ensuring the accuracy and completeness of the TDS return file.
1. FVU Version
2. FY (Financial Year)
3. Firm Name
4. Quarter
5. Upload Type
Note that –
- TDS can be uploaded from the financial year 2010-2011.
- Only regular statements can be uploaded on the e-filing portal.
After selecting the appropriate details in the TDS return upload form, the user should click on the “Validate” button to validate the statement details. This step is important in ensuring that the TDS return file is error-free and meets all the necessary validation criteria.
In step 7, the user should proceed to the “Attach Signature File” section and upload the signature file that was generated using the DSC management utility. This is a crucial step in the TDS return upload process, as it ensures the authenticity and integrity of the TDS ZIP file.
The final step in the TDS return upload process is to click on the “Upload” button. This will initiate the upload process and the user will be able to track the status of their TDS return on the NSDL website. It is important to ensure that all the necessary steps have been completed accurately before clicking on the “Upload” button to avoid any errors or delays in the process.
Once the TDS return upload process is complete, a success message will be displayed on the screen. Additionally, a confirmation email will be sent to the registered email ID of the user to confirm the successful upload of the TDS return. These notifications are important in ensuring that the user is aware of the status of their TDS return and can take any necessary action, if required.
TDS return statement can be uploaded online using EVC, which stands for Electronic Verification Code. This process involves generating a unique code for authentication purposes, which is used to verify the identity of the user and the accuracy of the TDS return file.
If the user does not generate a DSC (Digital Signature Certificate), they will be directed to a screen that prompts them to proceed with the EVC (Electronic Verification Code) method of authentication. This is an alternate method of verifying the identity of the user and completing the TDS return upload process.
Once the user is directed to the EVC method of authentication screen, they should click on the “Click here for e-verification” button to proceed with the e-verification of their TDS return. The screen will display three options for e-verification that are available to taxpayers to choose from.
If the user selects “Option 1 – I already have an EVC to e-verify my form” on the e-verification screen, they will be directed to a new screen that prompts them to enter the EVC that they have already generated to verify their TDS return. This is a quick and convenient method for users who have already generated an EVC and wish to use it for e-verification purposes.
On the EVC entry screen, the user should enter the EVC code that they have generated and click on the “Submit” button to proceed with the e-verification of their TDS return. Once the EVC code is verified, the TDS return will be successfully uploaded and the process will be complete.
If the user selects “Option 2 – I do not have an EVC and I would like to generate EVC to e-verify my form” on the e-verification screen, they will be directed to a new screen that prompts them to generate a new EVC code for the purpose of e-verification of their TDS return. This option is suitable for users who have not yet generated an EVC code or do not have access to a DSC.
On the EVC generation screen, users can select the appropriate option to generate an EVC code for the purpose of e-verification. This may involve using options such as “Generate Aadhaar OTP” or “Generate EVC through Net Banking”. Once the EVC code is generated, the user can enter it into the appropriate field on the e-verification screen to complete the process.
Read More:-Understanding Section 206 of the Income Tax Act: A Comprehensive Guide to TDS Deduction
EVC can be generated through net banking
To generate an EVC through net banking, follow the steps below carefully:
Step 1:- Your Principal Contact has to login to e-filing portal through Net Banking.
Step 2:- Go to e-file Menu->Generate EVC.
Step 3:- Login to e-Filing portal through Net Banking.
Step 4:- Select the TAN from the drop down for which EVC should be generated.
Step 5:- EVC will be sent to the principal contact’s contact details registered with e-Filing.
Step 6:- Login to e-Filing using Entity’s TAN.
Step 7:- Go to TDS->Upload TDS and Select the option “I already have an EVC” under “Click here to E-Verify” link.
Step 8:-.Enter the EVC and click on Submit.
To see the list of banks where you can log in to the e-Filing portal using Net Banking, you need to click on the “e-Filing Login Through NetBanking” option on the Login page.
Generating an EVC through bank account number
Before you can generate an EVC (Electronic Verification Code) through your bank account number, you must first verify the details of your primary contact bank account.
If you want to generate an EVC, simply click on “YES”. Once generated, the EVC will be sent to the verified email ID and mobile number of the primary contact.
If the bank account details of the primary contact have not been verified, the following screen will appear.
To generate EVC through the debit account number, follow the steps given below:
In order to generate an EVC using your Demat account number, you must first pre-verify the details of the Demat account belonging to the primary contact.
To generate an EVC, simply click on “YES” and the code will be sent to the verified email ID and mobile number of the primary contact.
If the verification has not been completed, you will see the following screen.
Once you have entered the Aadhaar OTP, click on the “Submit” button. If the primary contact is not linked to the Aadhaar PAN, you will see the following “Message”.
How to view the uploaded TDS return statement online?
Here are the steps to view the uploaded TDS details:
Step 1: Log in to the e-filing portal and navigate to the “TDS” section, then select “View Filed TDS”.
Step 2: From the dropdown box for the relevant financial year, select the Form Name and Quarter for which TDS was uploaded using the form.
Step 3: Click on “View Details” to proceed.
Step 4: The status of the uploaded TDS will be displayed.
- After you upload the statement, the status will show as “uploaded”. The file will then be processed and validated, and the status will be updated within 24 hours to either “accepted” or “rejected”.
Step 5: If the status shows as “Rejected,” you will be able to see the reason for rejection displayed on the screen. Click on the token number to view the error details.
- The reason for rejection will be displayed below:
Step 6: If the status shows as “Accepted,” click on the token number to view the statement details and download the final receipt. The screen will appear as shown below.
What happens if I don’t file TDS?
If you fail to file your TDS return, you may be charged a daily late filing fee of Rs. 200 until the return is filed. Moreover, as per Section 271H, the assessing officer has the power to levy a penalty ranging from a minimum of Rs. 10,000 to a maximum of Rs. 1 lakh. To avoid incurring any unnecessary fees or penalties, it is crucial to file your TDS return in a timely manner.
Can we file TDS return without CA?
If you have a simple salary income and your tax situation remains unchanged throughout the year, you may not need to hire a Chartered Accountant (CA) to file your tax return. However, in certain complex tax scenarios, the expertise and guidance of a CA may be necessary to ensure proper compliance with tax laws. It is important to evaluate your individual tax situation and decide whether or not you require professional assistance before proceeding with the tax filing process.
When TDS is reflected in Form 26AS?
Form 26AS shows the tax deducted at source after the deductee files the TDS return and it is processed by the Centralized Processing Center (CPC). Generally, it takes around seven days for the CPC to process the filed TDS return and update the information in Form 26AS. It is essential to monitor Form 26AS frequently to verify that the TDS deducted from your income is accurately reflected, as this information is utilized for tax calculation and filing purposes.
What happens if TDS is not reflecting in 26AS?
If the tax credit is not reflecting in your Form 26AS, it may be due to various reasons such as non-filing of TDS or TCS return by the tax deductor or collector, incorrect PAN information on record, or failure to provide your PAN information to the tax deductor or collector. To avoid any discrepancies in your tax credit information, it is crucial to ensure that all necessary details, including your correct PAN information, are provided to the tax deductor or collector, and they have filed the necessary TDS or TCS returns.
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