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Tuesday, May 20, 2008

How to Confirm If Your TDS was deposited by Deductor?

Thanks to online initiative taken by the government, now anyone whose tax has been deducted at source can VIEW if the tax deducted is deposited with the government . Do you want to view? This facility is being provided by NSDL through which Tax information network initiative is being implemented. Following is the excerpts of the "how to " given on NSDL website . Follow these steps and , you will be able to view tax deduction made in your case.This is important because many a time , tax is deducted by the deductor , but not deposited to the government in time. this leads to dis allowance of tax credit and further lose of interest etc. So here are the excerpts:TIN facilitates a PAN holder to view its Annual Tax Statement (Form 26AS) online. Form 26AS contains
details of tax deducted/collected on behalf of the taxpayer by deductors/collectors
advance tax/self assessment tax/regular assessment tax, etc. deposited by the taxpayers (PAN holders)
Steps for viewing Tax Credit
1. Online Registration of PAN by PAN holder
2. Verification of identity and authorisation by TIN-Facilitation Centre
3. View Tax Credit
Registration & authorisation is a one-time activity. This can happen in two ways:
a) PAN holder can personally visit any TIN-FC of its choice and get his PAN request authorised; or,
b) PAN holder can request any TIN-FC to visit him at an address specified by him and get his PAN authorised.
Registration FeeThere is no charge for viewing the Tax Credit online, however, the TIN-FC may charge for authorization of PAN as follows:
a) TIN-FC will charge Rs.17 (i.e. Rs.15 + service tax) for authorisation of PAN registration request, when the PAN holder personally visits the TIN-FC.
b) TIN-FC will charge Rs.110 (i.e. Rs.100 + service tax) for authorisation of PAN registration request in those cases where the PAN holder opts for the TIN-FC to visit him.

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