E -TDS returns are those TDS returns that are prepared in some specific forms in the electronic media according to the prescribed structure in a floppy or a CD ROM. Such returns should be followed by verification in Form No.27A.
Who are supposed to file e – TDS return?
According to the provisions of Section 206 of Income Tax Act, all corporate and government deductors require mandatory filing their e – TDS returns. For other classes of deductors, filing of e -TDS return is optional.
Provisions under which e – TDS returns are filed:
All e -TDS returns should be filed according to the provisions of Section 206 of the Income Tax Act as per the scheme dated 26.8.03 for electronic filing of income tax returns as notified by the CBDT through its Circular No.8 dated 19.9.03.
Which forms are used for filing e – TDS returns?
The following forms to be used for filing e – TDS returns:
1. Form 24;
2. Form 26;
3. Form 27;
4. Form 27E;
5. Form 24Q;
6. Form 26Q;
7. Form 27EQ.
Who acts as the e – Filing Administrator?
The Director General of Income Tax (Systems) has been appointed by the CBDT as e -Filing Administrator for the e – Filing of Returns of TDS Scheme, 2003.
Preparation of e – TDS returns:
E -TDS returns should be prepared in the format issued by the e – Filing Administrator. This can be viewed from the websites of Department. There is software along with the data structure which can validate the data structure of the return prepared. Such returns should have following features:
1.Each return should be accompanied by a Form 27A filled and signed by an authorized signatory.
2.Each return should be in a single CD or floppy. It should not be in more than one CD or floppies.
3.If the size of a return file is more than the maximum capacity of a single floppy, it should be prepared on a CD.
4.If the return is in a compressed format, it should be compressed in such way that shall ensure rapid acceptance of the file.
5.There should be labels affixed on each CD or floppy containing the name and other details of the deductor.
6.There should be not any error in the Form. If there is any, it should be corrected by an authorized signatory.
7.No bank copy of TDS certificate should be filed with any return.
8.In case of Form 24, the deductor requires furnishing copies of certificates of ‘no deduction of TDS at lower rate’, if the deductor has any such certificate.
9.E – TDS returns should contain TAN of the deductor otherwise the same shall not be accepted.
10.The CD or floppy should not contain virus.