Dear Mr.Prabhu The person who has deducted TDS is the deducter and In case of
TCS you are collector further tax credits means the Tax amount as reported
by the tax deductors/collectors while filing TDS/TCS return and same
information available with I.Tax Deptt.like if Bank has deducted Rs.1500 TDS
and has properly filed the TDs return with all correct details then Rs.1500
will be Tax credit available with ITD. but in case information filed
by bank is incorrect then tax credit will not be there in
ur account and u have get it thru deductor.thanks vikas On Mon, 9
Mar 2009 10:03:23 +0530 [email protected] wroteDear
Vikascan you please explain- Who is my deductor- what is the meaning of tax
credits?ThanksOn Sat, Mar 7, 2009 at 2:46 PM, vikas narang wrote:Dear Mr.
Prabhuplease open the Attached PDF file with this letter and in password pl
write Date of birth in case of individual like if your DOB is 23/05/1977
then PW will be 23051977 and in case of company date of incorporation will be
PW in the PDF file you will find the Details of TDS/TCS/ADVNCE TAX/SELF
ASSESSMENT payments made by you whiich is to be verified by you at your end and
if there is any discrepancy/missing entry you have to get it corrected
thru your deductor immediately and ascertain whether the deductor
has either i) erred in quoting the correct PAN or not quoted your PAN;
or ii) not filed the TDS return; oriii) has not paid the required TDS to
Government account. In such a case, you may approach the deductor and
persuade the deductor to rectify the deficiencies. Kindly see that the tax
statement will be the basis for giving you tax credits. Hence, absence of tax
credit will bind the Officer to adhere to the tax credit available.hope the
matter will be clearregardsvikas narang9812043198On Sat, 7 Mar 2009 12:36:44
+0530 [email protected] wrote Hi All,I got the following
mail from nsdl.Can you please what does it mean? please
helpThanks-----------------------------------------------------------------Directorate
of Income Tax (Systems)New Delhi Dear Tax Payer, Subject: Tax Credits
available in the Annual Tax Statement for A.Y.2008-09The Income Tax Department
(ITD) has started transmitting the Annual Tax Statement of taxpayers as a part
of its citizen centric exercise. The object is to give you feedback regarding
the tax credits as reported by the tax deductors/collectors besides showing
taxes deposited by way of self assessment tax, advance tax etc. This
statement is also relied upon by the ITD while giving tax credit at the time of
processing of the Income Tax returns. The procedure for creation of this Annual
Tax Statement is in accordance with section 203 AA of the I.T. Act, 1961 or the
second proviso to sub section (5) of section 206C of the I.T. Act,
1961.2. The purpose of undertaking this exercise is to ensure that
the tax credit available is complete, correct and up to date. Your
Annual Tax Statement for A.Y. 2008-09 (Financial Year 01.04.2007 to 31.03.2008)
is enclosed herewith. The tax credit reflected in such statement may increase
or decrease in case the deductor revises the information/updates the
information or files the TDS returns after finalization of Form 26AS (Annual
Tax Statement).3. In case of missing entries or entries against which
'unmatched' is indicated, you are advised to contact your deductor immediately
and ascertain whether the deductor has either
i) erred in
quoting the correct PAN or not quoted your PAN; or
ii) not
filed the TDS return; oriii) has not paid the required TDS to Government
account. 3.1 In such a case, you may approach the deductor and persuade
the deductor to rectify the deficiencies. Kindly note that the tax statement
will be the basis for giving you tax credits. Hence, absence of tax credit will
bind the Officer to adhere to the tax credit available.4. Tax
Credits appearing in the Annual Tax Statement are on the basis of the details
given by the deductor in the TDS/TCS statement filed by him. The same
should be verified before claiming tax credit and only the amount which
pertains to you should be claimed. 5. From the current
financial year onwards you can also view your tax credits by undertaking
a one time registration. Detailed procedure for registration is available at
www.incometaxindia.gov.in and www.tin-nsdl.com. 6. To open the statement,
please enter the date of birth in case of individual tax payers and the date of
incorporation for non-individual tax payers as password in the format of
DDMMYYYY. For example, if your date of birth / incorporation is January 1, 1985
then the password will be 01011985. 6.1 The date of birth / incorporation
should be same as furnished to the Department and available in the Income Tax
Department PAN master (as printed on the PAN card). 6.2 To open the file all
you need is Adobe Acrobat Reader version 5.0 or above. If you do not have Adobe
Acrobat Reader, please click on this link
www.adobe.com/products/acrobat/readstep2.html to download. Please note that you
will not be able to open this file or view the file properly with any version
lower than Adobe Acrobat Reader 5.0. 7. For queries on the
issue you may contact TIN Call Centre at Tel.:
91-20-2721 8080 Fax: 91-20-2721 8081
Email: [email protected] The tax statement is in
the attached PDF file with your PAN as the file name. This is a system
generated mail. Please do not reply back to this email ID. Further
communication on this matter could be sent on [email protected] For and on
behalf of The Income Tax Department-- RegdsPrabhuwww.companylaws.blogspot.com
window to legal updatesJoin http://groups.yahoo.com/group/CompensationIndia
forum of payroll usersJoin http://groups.yahoo.com/group/ptIndia forum of
professional tax issuesJoin http://groups.yahoo.com/group/CompensationIndia
forum of payroll usersJoin http://groups.yahoo.com/group/ptIndia forum of
professional tax issues
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