As per new ITR forms/rules and clarification from deptt., all INCOME TAX RETURNS will be annexure less . Even Form -16,16a,self assessment challans etc(tds /tcs certificates ) are not required to be attached.So basic question in every body's mind arises that how will deptt will give due credit for taxes deposited/deducted?
HOW INCOME TAX DEPT VERIFY TAX CREDIT IF FORM 16,16aetc NOT ATTACHED?
The answer is online ledger maintained by dept. against each & every PAN. As you may be aware of that now a days almost every deductor has to file a return for tax deducted at source or collected at source( ETDS returns,form 24q,26q,27eqetc) .On the basis on return filed by the deductor ,data uploaded by the banks regarding self assessment and advance tax ,online ledger of the pan is maintained .The income tax authority will check and reconcile TAX CREDIT claimed by assessee from online PAN LEDGER,and if there are diff. in tax claimed and shown in online pan ledger ,dept may issue the notices to assessee to produce document in support of their claims regarding tax deposited /deducted shown in Income Tax return.so its necessary now for every body ,what is senn by the Income tax officer ,so that if there are any diff in online ledger and tax what we have claimed to be deposited/deducted in our Income tax return.And can take remedial action if required.
Important point in this regard
In changed circumstances one should keep the following points in mind :
- Get the tds certificate from the deductor and keep it safe as income tax authority may call you to furnish the same in future.
- Ensure that on form 16(or all tds certificates) TAN of deductor and your PAN is filled correctly.You can verify correctness of TAN from income tax web site
- Fill the tan and submit, name will be shown of the tan holder,if it matches with the deductors' name then it will be ok
- Ensure that IN TDS /TCS certificate(form 16A,16) detail of tax deposited,showing date of deposit,BSR code of bank branch,amount deposited,challan serial number given by bank, has been given or annexure has been attached for the same.It is compulsory to give challan wise detail of tax deposited in FORM 16,16a .And now its also mandatory for the deductor to give PRN(provisional receipt number) of the tds return ,submitted by him. You can also verify detail of return uploaded by the deductor.
- Ensure that your correct pan has been given by the deductor while uploading the ETDS Return.so provide your pan to the deductor when a tax has been deducted by him.
- you have filled wrong pan/AY etc while depositing self assessment tax or advance tax.(to avoid this use pre filled excel challan or e payment auto filler)
- Bank has uploaded wrong data on NSDL/Income Tax Dept. server like wrong pan/amount.
- Deductor has not deposited tds deducted or has not filed etds return.
- Deductor has filled your wrong pan in etds return or given as "pannotavbl"etc.
reason may be other type also but the point is here is that if we know pre handed that tax claimed by us in ITR is not matching with online pan ledger shown to Income tax officer ,we can resolve it easily.So we should regsiter for online pan ledger immediateley .
ADVANTAGES OF PAN LEDGER(form 26AS)
You can verify three type of taxes from 01.04.2005 onwards:
- Taxes deposited by you.
- Taxes deducted from you (TDS)
- Taxes collected from you(TCS)
HOW TO REGISTER FOR PAN LOGIN1.First of you have to create a user id /password for your self by clicking this link. following screen will appear
--In this screen type your Pan and name will appear automatically .
--than you can select yes/ no option for "do you want tin -fc official to visit you for authorisation.
--if you select no than create your login id and password and submit
--in next screen a form will be generated, print this page and go to tin -fc with original pan card and a photocopy OF PAN CARD and generated form as above.
--tin fc will register you and you will be able to login after three working days after registration.
Addresses of all TIN-FCs
-if you select yes for the answer than you have to fill the address detail, and select a tin fc for visiting you for this, visiting fee has to be paid .
REGISTRATION FESS:17 RS ONE TIME (without visting fees)
HOW CAN I LOGIN TO PAN LEDGER
After registration you can login form this link .Fill your user id /password you have created and registered and following screen will appear.
CLICK ON FORM 26AS .In next screen assessment year will be asked,select the required a.y the follwing screen will apper with full detail of tax by diff. tan holder.
check detail of tax deducted/tax collected by various deductors and match them with your record.If it does not match, contact the respective deductor and ask him to file revise/correct the return.you can check the details of tax deducted /collected from 1.4.2005 onwards.so REGISTER NOW!
for frequently asked question ON PAN LEDGER please click HERE