Ensuring 100% accuracy with the reporting requirements requires every organization & the team involved to know & adapt to the changes swiftly. This ensures Zero Latency, Accurate Data & a step towards World Class Organization…
As Q2 ends by 30th September, It is time for us to undertake the Q-ETDS Reporting requirements. Recently, the TDS cell has come out with some changes in the reporting requirements & has added some new data’s to be declared mandatorily. Some of the Significant Changes are as below:
1. Reporting of Lower Deduction Certificate Number made Mandatory. Earlier we were only providing Lower Deduction Applicable – Yes / No.
2. Country of Residence of the Deductee needs to be mentioned for Section 195 Deductee’s under Form 27Q.
3. Change of Field in 24Q, Annexure 1 – “Taxable amount of which tax deducted” has been changed to “Amount paid/Credited”
4. In Form 24Q, Annexure 2 – if PAN provided is invalid (i.e. PANNOTAVBL, PANAPPLIED & PANINVALID), then the flag in the column “Whether tax deducted at higher rate” mandatorily needs to be “Yes”
This E-Book provides access to
1. Exhaustive & Complete List of changes applicable for Q-ETDS Filing
2. Expected Bottlenecks
3. Validations to be done to achieve 100% Reporting Accuracy