UTN NOT MANDATORY FOR AY 09-10-FORM 17 ,24C HELD IN ABEYANCE

God Knows who will give some wisdom to Income tax department .Income tax department first issued the notification on 25.03.2009 that UTN is mandatory for Ay 2009-10 ,further notified that there will be form 17 (tds new challan),24 C(new tds return) and long list of changes in who TDS system as per notification 31/2009 then come with press release on  11/05/2009 hat this notification will be held in abeyance upto 30.06.2009 then come again that New Rules notified in 31/2009 will be applicable for tax deducted on or after 01.06.09 and UTN is must for 2009-10 AY .No body knows who will provide UTN ,where is form 17 (tds challan )..Department has been issuing circular /clarification on this subject without having done proper home work or one can say without any home work and without any discussion with the  any Accounting Body Like ICAI or trade body or one can say even the Board has not discussed it with Govt organisation who is going to be more disturbed  than other due to this notification.but as I have mentioned above they doesn't have a sound mind ...now they have come up with a another press release which says that above said notification is now held in abeyance till further order means they don't know when it will be implemented No plan what so ever....................Yeh India hai meri Jan
Here is the press release issued today(30.06.2009) on UTN and On Form 17 Challan and form 24C

UTN not mendatory for filing it returns
	18:28 IST

The Central Board of Direct Taxes have further decided that the Notification No. 31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962 shall be kept in abeyance for the time being. Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or any other earlier AY, may continue to file their returns without mentioning the Unique Transaction Number (UTN) as required under the said Notification. The filing of such returns shall be treated as valid and in compliance to the requirements under section 139 of the Income Tax Act, 1961. Further, the date from which the Notification No. 31 / 2009 shall become applicable on tax deducted at source (TDS) or tax collected at source (TCS) and deposited during the current financial year shall be notified by the Central Board of Direct Taxes subsequently. All deductors / collectors of TDS / TCS may continue to deposit their TDS / TCS and file their quarterly TDS / TCS returns as per procedure existing prior to issuance of Notification No.31 / 2009 dated 25.3.2009. BSC/BY/GN-154/09

so after This Press release it is cleared that UTN is no longer required for Ay 09-10 and form 17 new TDS challan and Other rules relating to TDS returns etc remain in operative till further orders....so now you can deposit TDS on form 281 and You should file quarterly TDS return By 15 July for first quarter on form

24Q/26Q/27EQ/27Q
Updates 24.07.2009
UNIQUE TRANSACTION NUMBER

Press Release No. BSC/BY/GN-276/09, dated 24-7-2009


The Government has decided to make it compulsory to quote Unique Transaction Number (UTN) in the Income-tax return forms to be filed by all the assessees to whom such number has been allocated by the Income-tax Department. Since the UTN has not been communicated to the taxpayers, therefore, the requirement of quoting UTN in Income-tax return form for assessment year 2009-10 has been kept in abeyance.

Unique Transaction Number would be allotted against each transaction in which tax has been deducted or collected at source. It is proposed to make it compulsory to quote this Number in the Income-tax return forms so as to ensure prompt verification and granting of tax credits to the tax payers.

This system of allotting Unique Transaction Number is expected to become operational by 1st January, 2010.

This information was given by Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question raised in Lok Sabha today. Labels: 24C, challan Form 17, UTN

Tuesday 30 June 2009