[ 2) ANDHRA PRAGATHI GRAMEENA BANK HEAD OFFICE::KADAPA Cir.No.90-2006-BC-STF Date: 29.9.06 INCOME TAX e FILING OF TDS RETURNS REF: 1) Cir.No.28-2006-BC-STF, dt.14.7.06, Cir.No.41-2006-BC-STF,dt.31.7.06 Attention of all Branches/Offices is invited to page no.15 and point no.9 of the Circular No.28-2006-BC-STF, dated 14.7.06 wherein it is informed that TDS returns in Form No.24Q on salaries and Form No.26Q on other payments are required to be filed on quarterly basis i.e. for the period ending 30 th June, 30 th Sept, 31 st Dec and 31 st March in each Financial Year through electronic media. The due date for submission of quarterly returns and other requirements to be followed are already given in circular 1 st cited above. While e filing of TDS returns with TIN-FCs, Branches/Offices shall pay the prescribed service charges as informed at point No.7 in page No.16 of our circular 1 st cited along with Service Tax at 12.24% to TIN-FCs. 1. Revised Form No.24Q - Quarterly Statement of TDS on Salary: The revised Form No.24Q, the Quarterly statement of TDS on salary is enclosed to this circular. 1. CBDT vide notification No.119, dated 12.5.2006 has prescribed revised Annexure II by clubbing earlier Annexures II and III which is made applicable for the quarter ended 31.3.2006. 2. Codes 327 to 368 have been clubbed/reduced to codes 327 to 347 with suitable changes. 2. Preparation of the Return Form No.24Q: 1. Details in revised Form No.24Q are required to be furnished in respect of three months of the respective quarter only. While the Return due on 30.9.06 will contain details for July 06 to Sep 06, the data pertaining to the months Oct 06 to Dec 06 is only required to be furnished in the quarterly Return due on 31.12.06 and so on. 2. Since salary for 3 months only is required to be furnished in the Return, technically there may not be taxable income. However, TDS on the total salary for the entire Financial year shall continue to be deducted uniformally over the months. contd..2
-2-3. Against Sl.No.2 (b) of Form No.24Q i.e. Type of deductor, Branches/Offices have to mention others as given in the Notes to the format. 4. Against Sl.No.4 of Form No.24Q, details are to be furnished for each month/challan-wise separately. 5. BSR code of the Branch where tax is remitted is to be furnished against column No.309 invariably by all Branches/Offices. (This may be of other Bank Branches like SBI/Syndicate Bank etc.). 6. Usually Branches/Offices deduct TDS monthly in round figures only including education cess. Surcharge is not applicable in the case of individuals upto total income of Rs.10.00 lakhs for the Financial year 2006-07. Hence, from the monthly tax deduction, education cess may be bifurcated and shown against columns 319 and 321 i.e. amount as per column 322x100/102. 7. Challan Number given by the Bank Branch where TDS is deposited is required to be furnished against column No.311. Pre-printed numbers (if any) on the Bank challan should not be furnished. 8. Annexure-I i.e. Deductee-wise break up of TDS is to be prepared separately for each line item in the table as per Sl.No.04 of main Form 24Q. In other words, details are to be furnished challan serial number wise separately. 9. Details to be furnished at Sl.No.4 of the Form and Annexure-I shall contain the figures of salary paid and TDS thereon for the relevant quarter. 10.Definition of salary given in the Notes to Form No.24Q includes arrears of salary also and to be shown during the months of disbursal. 3. Mode of Submission: 1. Form No.24Q with Annexure-I only is required to be filed with TIN-FCs for the first three quarters of the Financial year. contd..3
-3-2. Annexure-II is to be filed along with Form No.24Q for the last quarter ending March giving data for entire Financial year along with Annexure-I containing data for the IV quarter. 3. While quarterly data is to be furnished in item 4 of Form No.24Q and Annexure-I for all the four quarters. Annual data is to be furnished in Annexure-II in the 4th quarter. 4. Preparation of the Return Form No.26Q Quarterly Statement of TDS on payments other than Salary: Form 26Q is enclosed to this circular. 1. Form No.26Q is also required to be submitted on a quarterly basis by furnishing the figures in respect of the months falling within the respective quarter only. i) Please read the Notes wherever given in the formats carefully. Most of the columns are self explanatory. ii) 2(b)-Type of Deductor is others while column 413 is not applicable for the Branches/Offices, challan serial number is to be furnished under column 412. iii) BSR code of the Branch where tax is deposited ( may be of other Bank Branches like SBI/Syndicate Bank etc) is to be furnished under column 410. iv) Annexure to Form No.26Q - Deductee-wise break up of details is to be prepared separately section-wise for each line item of Sl.No.4 of the Return. 2. Form No.26Q has to be filed in respect of other cases of deduction of tax at source such as Interest on Deposits (u/s 194A), contract Payments (u/s 194C(1)), Advertising contract ( u/s 194C(2)), Commission or Brokerage (u/s 194H), Rent Payments (u/s 194I), and Professional / Technical Fees (u/s 194J) etc. PAN of the deductee i.e. party from whom TDS is made is to be furnished under column 416. Hence, PAN is to be obtained/insisted upon in all Bills/Invoices. For further guidance, if any, required on e filing of Form No.26Q, Branches may contact RO/Department concerned handling the subject at Head Office. 5. Due Dates for Form No.24Q and 26Q: The Due date for e filing of quarterly returns continues to be 15 th July, 15 th October, 15 th January for the first 3 quarters and 30 th April for last quarter for both Form No.24Q and 26Q. 6. PAN: Permanent Account Number of the Andhra Pragathi Grameena Bank is A A M F A 8 9 2 1 A contd..4
-4-7. For the current Financial year 2006-07, the relevant Assessment year is 2007-08. For filing e TDS Returns, quoting TAN of the Branch/Office along with PAN of the APGB AAMFA8921A is mandatory. All Branches/Offices were advised vide circulars cited above to obtain fresh TAN as there is change in the name of the Bank. Accordingly Majority of Branches/Offices have submitted applications for TAN/Form No.49B and obtained Fresh TAN in the name of Andhra Pragathi Grameena Bank. The remaining Branches shall immediately file Form No.49B for Fresh TAN. Otherwise Manager/Officer in charge concerned shall be held responsible for all consequences. 8. Payment of amount for e filing of Form No.24Q: The charges for e filing Form No.24Q is Rs.28/- (i.e. Rs.25/- + Rs.3/- service tax @12.24%) for 100 deductee records. Majority Bank Branches are having very few staff members. Regional Offices and big branches are having 15 to 35 staff members only. Even at Head Office the staff strength is around 70. Hence, per Branch/Office the e filing charges are Rs.28/- only including service tax. The said charges are only for transmitting customised Form No.24Q at TIN-FCs. For which all Branches/Offices have to prepare customised Form No.24Q in electronic media. Separate software is required for preparing/feeding data into Form No.24Q in electronic media. Some times there will be some technical problems in transmitting the customised Form No.24Q at TIN-FCs which are situated at far away places/towns. Hence, Branches/Offices are requesting to entrust the work to Income Tax Practitioner/Auditor/TIN-FCs for preparing/feeding into customised Form No.24Q in electronic media and to e file the same at TIN-FCs. As our Branches/Offices are not having the relevant software to prepare customised Form No.24Q in electronic media, and TIN-FCs are situated in far away places/big towns, it has been decided to permit the Branches/Offices to incur/pay the amount not exceeding Rs.200/- (Rupees two hundred only) for each quarter to Income Tax Practitioner/Auditor/TIN-FCs who have taken the responsibility of preparing customised Form No.24Q and to e file the same at TIN-FCs. The said amount shall be paid through crossed pay order/crossed demand draft. After e filing Form no.24q in each quarter, all Branches/Offices shall collect relevant provisional receipt and copy of Form no.24q e filed (hard copy) from concerned Tin-FC/Auditor/Income Tax Practitioner and verify the correctness with Branch record and preserve the same in Branch records. For further guidance, Branches/Offices shall contact ROs on the matter. contd 5
-5-9) A covering letter Form No.27A (hard copy) is to be filed along with quarterly Returns separately for Form No.24Q, 26Q and 27. Copy of the same is enclosed to this circular. 10. Issue of Form 16: All Branches/Offices have to issue certificate for TDS on salary in Form No.16 to all the employees/ex-employees who have retired during the Financial year by 30 th April. In the case of pensioners (both of our Bank/Others) Branches have to issue certificate in Form 16 by 30 th April for TDS on Pension Payments. The Format of Form-16 is enclosed to this circular. This Circular shall be circulated among all the staff working at Branches/Offices against their acknowledgement. Clarification, if any, on this circular may be sought from the Personnel Department, Head Office, Kadapa. (M. OBULESU) C H A I R M A N. Enclosures: 1) Form No.24Q - Quarterly return of TDS on salaries 2) Form No.26Q - Quarterly return of TDS on payments other than salaries. 3) Form No.27 - Quarterly return on payments other than salaries to non- residents 4) Form No.27A - Covering letter 5) Form No.16 - TDS certificate on salaries/pension.
Enclosure to Circular No.90 2006-BC-STF dated 29.9.2006 FORM NO. 16 (See rule 31(1) (a) of the Income Tax Rules, 1962) Certificate under section 203 of the Income Tax Act, 1961 for tax deducted at source from income chargeable under the head SALARIES Name and Address of the Employer Name and Designation of the Employee PAN / GIR No. TAN PAN / GIR No. TDS Circle where Annual Return / Statement under Section 206 is to be filed FROM PERIOD TO Assessment Year DETAILS OF SALARY PAID AND ANY OTHER INCOME AND TAX DEDUCTED 1. Gross Salary a) Salary as per provisions contained in Sec.17(1) b) Value of perquisites under section 17(2) (as per Form No.12BA, wherever applicable) c) Profits in lieu of salary under section 17(3) (as per Form No.12BA, wherever applicable) d) TOTAL 2. Less: Allowance to the extent exempt under section 10 3. BALANCE (1-2) 4. DEDUCTIONS a) Entertainment Allowance Rs. b) Tax on Employment _ 5. Aggregate of 4(a) and (b) 6. INCOME CHARGEABLE UNDER THE HEAD SALARIES (3-5) 7. Add: Any other income reported by the employee 8. GROSS TOTAL INCOME (6+7) 9. DEDUCTION UNDER CHAPTER VI-A (A) Sections 80C, 80CCC and 80CCD (a) Section 80C (i) (ii) (iii) (iv) (v) vi) Gross Amount Deductible Amount (b) Section 80 CCC (c) Section 80 CCD Note: 1. Aggregate amount deductible under Section 80C shall not exceed one lakh rupees. 2. Aggregate amount deductible under the three Sections i.e., 80C, 80CCC and 80CCD, shall not exceed one lakh rupees.
(B) OTHER SECTIONS (FOR eg.80e, 80G etc.) UNDER CHAPTER VI-A Gross Amount Qualifying Amount Deductible Amount (a) Section (b) Section (c) Section (d) Section (e) Section 10. Aggregate of deductible amounts under Chapter VI-A _ 11. TOTAL INCOME (8-10) 12. TAX ON TOTAL INCOME 13. Surcharge (On Computed as S.No.12) 14. Education Cess (On tax at S.No.12 & Surcharge at S.No.13) 15. Tax Payable (12+13+14) 16. Relief under section 89 (attach details) 17. Tax Payable (15-16) 18. Less: a) Tax deducted at source u/s 192(1) b) Tax paid by the employer on behalf of the employee u/s 192(1A) on perquisites u/s 17(2) 19. TAX PAYABLE/REFUNDABLE(17-18) Sl. No DETAILS OF TAX DEDUCTED AND DEPOSITED INTO CENTRAL GOVERNMENT ACCOUNT TDS Surcharge Rs. Rs. Education Cess Rs. Total Tax deposited Rs. Cheque/ DD No. (if any) BSR Code of Bank Branch Date on which tax deposited (dd/mm/yy) Transfer voucher/ Challan Identification No. I,., son of working in the capacity of..(designation) do hereby certify that a sum of Rs.. [(Rupees (in words)] has been deducted at source and paid to the credit of the Central Government. I further certify that the information given above is true and correct based on the books of account, documents and other available records. Place:. Date:. Signature of the person responsible for deduction of tax Full Name. Designation