Software for Complete Management of Tax Deduction at Source

Introduction of separate date field “Date of Payment / Credit”

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Currently TdsPac captures only one date in TDS deduction . This is treated as Date of Deduction.

eTDS Statement expects two dates

  • Date of Payment / Credit
  • Date of Deduction

TdsPac presumes both the dates to be same.

Need for a separate Date of Payment

The rate of interest payable in case of delayed deduction is 1% p.m. and in case of delayed deduction it is 1.5% p.m.

Hence there is a need to have two separate dates in TdsPac

Solution provided in TdsPac Version 4.55

TdsPac 4.55 has provision for importing Date of Payment / Credit.

The existing Voucher Date is now changed as Date Deducted

Given below are the screens where changes have been carried out to incorporate new column “Date of Payment / Credit”

Utilities -> Import -> Excel -> Setup 

  • New date field [ Date Paid/Cr ] provided for mapping the excel column
  • [ Date Paid/Cr ] is not mandatory

Utilities -> Import -> Excel -> Import Tran.. 

  • If [Voucher Date] is blank it will be updated with the value given in [Date Deducted]
  • Validations given for [ Date Paid/Cr ]:
    • It should be a valid date i.e 31/04/2012 is not allowed
    • It should be within the financial year i.e if F.Y is 2012-13 then voucher date can be any date between 01/04/2012 to 31/03/2013 (inclusive of these 2 dates)

Transaction -> TDS Deduction Entries-Auto

 [ Date Paid/Cr ] is displayed above [ Date Deducted ] field.

  • [ Date Paid/Cr ] field cannot be edited.
  • If a record is added then [ Date Paid/Cr ] is updated with the value given in [Date Deducted]

 Transaction -> TDS Deduction Entries-Manual 

  • [ Date Paid/Cr ] is displayed above [ Date Deducted ] field.
  • [ Date Paid/Cr ] field cannot be edited.
  • If a record is added then [ Date Paid/Cr ] is updated with the value given in [Date Deducted]

Onscreen Enquiry -> Enquiry Transactions

  • Caption of “Voucher Dt” changed to “Date Ded” 

Interest calculation on delayed deductions 

       Printing -> Registers-> Interest Calculation 

  • With the incorporation of the new date field [ Date of Payment / Credit ] it is possible to calculate Interest on Delayed Deductions
  • Two interest fields provided
    1. Delayed deductions (12%)
    2. Delayed deposits (18%)

Interest amount will be the summation of delayed deductions and delayed deposits.


Written by iyerganesh

June 7, 2012 at 1:24 pm

Verify PAN to avoid penal rate default

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A deductor takes care to put structurally valid PAN in eTDS statement. However , if the PAN is not found in Income-tax database, it is considered as invalid PAN.
Such invalid PANs are shown in the Default Notices at penal rate of 20% under “Short Deduction”
To help deductors, avoid such Short Deduction Notices, TdsPac 4.44 has given option to validate PAN against Income Tax Database

Verify PAN

  • This new command button is available in OnScreen Enquiry-> Enquiry Party Master.
  • On clicking “Verify PAN”
  • Interest connection must be available for this option to work
  • Each PAN in the grid will be looked up in income-tax database online
  • If PAN is not available “Not found in ITD” will appear in the panstatus column

This list can be exported to excel and deductee can be contacted to provide correct PAN details , preferably with a copy of PAN Card.

Hence TdsPac users can take advantage of this option to avoid hassles of replying to notice and filing of correction statement.

Written by fastfactsindia

September 9, 2011 at 4:21 pm

Showing Threshold Entries in eTDS Statement

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FVU 3.2 had provided option of showing TDS deductions below threshold and crossing threshold in eTDS Statement. For this purpose three alternate approaches were also provided by NSDL.

In TdsPac Version 4.41 we have implemented approach 1 to show such entries

TBT :  Transaction below threshold : Transaction below threshold limit must have : “Y” in the column “Reason for non deduction /lower deduction” , 0.00 as rate of Deduction, 0.00 as Amount Deducted, 0.00 as Amount Deposited

TCT : Transaction crossing threshold : The rate must be Tds Amount / Amount Paid Credited

Approach 1

Show TBT and TCT in the same quarter in which payment is made / amount is credited

How does TdsPac identifies TBT entries

Whenever the following conditions are met a transactions is presumed to be TBT

  • Tds Amount is zero
  • In Payee Master ,Special Section is not defined
  • In Payee Master , “Transport Contractor- No TDS applicable” is ticked.

This ensures that entries where self declaration is given or where Nil Rate certificate is provided by deductee or payment is towards transport contractor , such entry is not considered as TBT entry.

How does TdsPac identifies TCT entries

Whenever the following conditions are met a transactions is presumed to be TCT

  • Tds amount > 0
  • TDS amount > Amount Paid * Rate
  • In Payee Master , sub status is not defined as “Penal Rate”

Before creating eTDS statement

  • TdsPac will display a screen where user can decide if an entry is TCT or not
  • TdsPac will show a count of TBT entries

Written by fastfactsindia

July 4, 2011 at 2:56 pm

Import and Print TIN Generated Form16A

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It is mandatory for companies and banks to issue only TIN- Generated Form 16A starting FY 2011-12 Q1. NSDL web site has provided e-Tutorial explaining method of downloading Form 16A file.

TIN Generated Form 16A

The file provided by TIN is a txt file, which contains complete details of each certificate. Few important points to note are

  • This file contains status of challan i.e.”Booked” etc
  • TAN address is provided as per Income tax database
  • Deductee address is provided as per PAN Address

Printing Form 16A

The txt file downloaded is not in directly printable format. For this purpose , NSDL has provided a java based utility, which reads the file and create PDF file for each certificate.

Printing Form 16A in TdsPac

TdsPac Version 4.4.1 has provided two options of easy management of TIN Generated Form 16A

Utilities->Import TIN Generated Form 16A : This option will read the txt file and store the information within TdsPac

Printing->TIN-Generated Form 16A :This screen is similar to normal TDS certificate printing screen. However there are three additional checkboxes

If the following two options are checked, address given in the txt file will be ignored and address as per TdsPac data will be printed

  • Deductor Address from TdsPac
  • Deductee Address from TdsPac

Digital Signature

Print First Page for Digital Signature : If this option is checked , then one page summary of certificate will be appended to Tds certificate with a distinct place for embedding digital signature

Our software DigitalSigner then can be used to sign these PDF files and email to deductees automatically

Written by fastfactsindia

July 4, 2011 at 2:44 pm

Import Party Master from Tally XML File

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TdsPac has the option to import Party master details from Tally.

From Tally it is possible to create SDF or XML file of Party Masters.  In TdsPac prior to Version 4.58 it was possible to import party master details only from SDF file.

New Feature in Version 4.38

If Tally TDS module is activated  and Party Master details are exported in XML format, then the following fields can be imported in TdsPac

  • Party Name
  • Party Address
  • PAN
  • Status
  • Sub Status
  • Tds Section

If PAN is blank, then it is updated as PANNOTAVBL and sub status is updated as “Penal Rate”

If a party is having multiple Tds Codes tagged in Tally, then the first Tds Section is taken in TdsPac

If Tally TDS Module is not activated, then default TdsCode, Status and Substatus as displayed in the import screen will be considered while importing




Written by fastfactsindia

February 8, 2011 at 12:26 pm

Posted in Import Party Master Tally

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Reverse Transport / Penal Rate Flag in TDS Deduction Entries

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FVU 3.0 requires

  • Payment to transport contractors without deduction of tax at source to be shown in eTDS statement with flag “T” in column “Reason for Nil/lower Deduction”
  • Similarly deduction of tax at penal rate of 20% is to be shown separately with flag “C” in column “Reason for Nil/lower Deduction”

In TdsPac Version 4.35  : At the time of generating eTDS statement , a pop-up screen shows

  • All transactions where TDS section is 194C, party is having valid PAN and TDS amount is zero. User has to confirm these transactions as flag “T” transactions
  • All transactions where TDS  rate >= 20% , PAN is not valid and TDS amount is more than zero. User has to confirm these transactions as flag “C” transactions.
  • However there is no option to unflag these trasactions, in case user wants to do so.

New Option to unflag these transactions

  • Utilities->Reverse Transporters/Penal Flag
  • Select the Quarter and Form No
  • Select Transporter OR Penal Rate radio button. Click Display
  • The selected TDS deduction entries will be displayed in the grid
  • User can select/de-select the displayed entries
  • On clicking Update, the flag for selected entries will be re-set

Written by fastfactsindia

October 28, 2010 at 12:14 pm

NIL Challan

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Need for NIL Challan

From FY 2010-11 onwards, it is necessary to report payment to transport contractors with NIL  TDS in eTDS Statement. This feature was introduced in TdsPac Version 4.35

However, the following situation was not handled in TdsPac

“When for section 94C, there is not a single transaction having TDS deductions and all TDS deductions pertain to payment to transport contractors with NIL TDS”

Implementation in TdsPac Version 4.36

This is now implemented in TdsPac Version 4.36 as follows

Menu : Transaction->Generate/Reset Challan->Manual Generate

Feature :

  • For a given period , if total of TDS amount is zero,  a NIL challan will be created.
  • The  NIL Challan will not be shown in Transaction->Other Challan Details  and Transaction->Payment of Challan.
  • NIL Challan will be considered in Printing->Create Qtrly eTDS Statement.

Written by fastfactsindia

October 19, 2010 at 12:14 pm