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Digital formats for TDS, TCS being enforced by Kerala IT Dept

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Thiruvananthapuram , May 27

THE Income-Tax office will not henceforth accept returns pertaining to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) furnished by corporate and Government deductors.

An official quoted the Commissioner of Income-Tax, Thiruvananthapuram, as saying that a decision to this effect was being made in the light of all Government and corporate deductors having been asked to file the returns in the mandatory digital format.

The annual TDS returns for year 2004-05 due to be filed by June 30 should be made out in the electronic format at any of the TIN (Tax Information Network) facilitation centres, particulars of which are available at and

The TIN facilitation centres in Thiruvananthapuram and Kollam are: Integrated Enterprises (India) Ltd, Thiruvananthapuram, (Telephone: 2461593); Karvy Consultants, Thiruvananthapuram, (Telephone: 2725987); Shell Transource Ltd, Thiruvananthapuram, (Telephone: 2323760 and 3101712); and Karvy Consultants, Kollam (Telephone: 2768327).

Failure to furnish the annual return within the scheduled time limit will invite a penalty under Section 272A, working out to Rs 100 for every day lapsed after the cut-off date.

With a view to aiding the computerisation of the TDS procedures, the Income-Tax Department has introduced a new procedure for deductions arrived at, effective April 1, 2005.

Accordingly, when tax is sought to be deducted on or after April 1, the person responsible for carrying out the deduction shall be required to file quarterly statements under Section 200(3) for periods ending June 30, September 30, December 31 and March 31 every financial year.

These statements should be filed before the prescribed Income-Tax authority or the person authorised by such authority.

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