Receipt number to be quoted in Form 16/16A

Receipt number to be quoted in Form 16/16A will be generated by TIN. Receipt number will be generated for the quarterly TDS/TCS statements pertaining to FY 2010-11 and onwards uploaded to TIN. Receipt number generated will be of eight digits (alphabets) and will be applicable only for statements pertaining to FY 2010-11 and onwards. Eight digit receipt number can be obtained by viewing the status of the quarterly TDS/TCS statement at under Quarterly Statement Status feature available at TIN website (http://www.tin-nsdl.com)./

Receipt number provided by TIN is in addition to the provisional receipt number provided on acceptance/upload of quarterly TDS/TCS statement. Provisional receipt number will be referred as Token no for the statements pertaining to FY 2010-11 and onwards.
to check your receipt number go to tin-nsdl website and check quarterly statement status and the you will found the 8 digit receipt number as shown in picture below:

HOW TO TYPE RUPEE SYMBOL FROM KEYBOARD

The Indian Govt has just Announced the Symbol for Rupee currency and It will take almost one year to implement the same in all over the world as there are many regulatory requirement involved in implementation .However I have found a trick from the net by which you can start using the Rupee symbol from now .It is very easy to use the trick .Trick is developed by Foradian Technologies .steps To Install the Rupee symbol.How to use ?

1. Download the above attached font Rupee.ttf or the new version Rupee_Foradian.ttf

2. Install the font. (It is easy. Just copy the font and paste it in "Fonts" folder in control panel)

3. Start using it. :) download the Rupee Firadian.ttf

How to type the Rupee symbol ?

Rupee symbol mapped the grave acent symbol - ` (the key just above "tab" button in your keyboard) with the new Rupee symbol. Just select "Rupee" font from the drop down list of your fonts in your application and press the key just above your tab button. It will display our new rupee symbol. Try it.
Limitations The "Rupee.ttf" font is necessary to view the currency symbol. So as long as the new symbol is not encoded in to unicode font by default, we cant use the symbol universally.means if you type the symbol in your letter and send to other person but the receiver has not installed the font then he can not see the rupee symbol

TDS defaults!!!! Consequences.

1. Failure to deduct the whole or part of the Tax at source (non-deduction, short deduction or delay in deduction) and Failure to deposit whole or part of the TDS (non-deposit, short deposit or late deposit) and/or

2. Failure to apply for TAN within the prescribed time limit or failure to quote TAN on allotment as required under section 203A.

3. Failure to furnish, in due time, TDS returns or TDS certificates or to deliver or cause to be delivered a copy of declaration in form no. 15H/15G/27C/copy of quarterly statement.

4. Failure to mention the PAN of the deductee in all quarterly statements as well as in all certificates furnished.

5. Consequences of DefaultsThe following chart indicates the nature of default and its consequences which range from penal interest, penalty to prosecution:

Note: Interest Rate u/s 201(1A) has been amended wef 01.07.2010 .Now 1% PM or part thereof interest is applicable where tds is deductible but has not been deducted and 1.5% per month is applicable where tds has been deducted but has not been deposited with in due time.In addition to the above, there are other consequences in certain cases, as enumerated below; Disallowance of specified expenditure (while computing the income of the deductor) if TDS is not deducted from the payment. (Section 40a(ia)).
Where the tax has not been paid after its deduction it shall be charge on the asset of the defaulter to recover the amount of TDS. (section 201(2)).

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SAMPLE REPLY FOR INTIMATION U/S 143(1) RECEIVED FROM CENTRALISED PROCESSING CENTER

For those who have received demand notice from Income-tax department in connection with Income-tax return for the A.Y. 2009-10 [F.Y. 2008-09].
Applicable to those Assessees who have filed their Income-tax Return Online in Form No. ITR-2.

Known Reason for Demand that have come to our notice are as mentioned below:
Reason 1: TDS Mismatch TDS Credit claimed in the Income-tax Return has not been considered by the Income-tax Department. There are various possibilities for this query: Viz. You might have quoted wrong PAN number to your employer Correct PAN number was given to your employer in the mid of the year, which was not updated by your employer in their TDS return that they filed with the Income-tax Department via NSDL. Your employer did not quote the TDS details like Bank Code, like Bank Code, Challan Number etc. properly in their TDS return.

Reason 2: Wrong data in Income-tax Return Wrong data in Income-tax Return (Difference in total Income as per ITR-V and notice of demand) While filing the return you had entered correct details & your tax was also calculated properly and the same details are reflecting on your ITR-V. But due to some mistake the amounts in ITR-V and your Income-tax return differs and therefore the demand.

REMEDIAL ACTION FOR THE ABOVE REASONS

TDS Mismatch

Check the Tax Credit claimed in the Income-tax Return and Credit actually allowed by the Income-tax Department. If you want to cross check your Tax Credit then make an application with TIN Facilitation Centre (TIN FC) for Form No. 26AS (your tax credit statement issued by Government via NSDL). List of TINFC is available on http://tin.nsdl.com. Cross Check TDS details considered by you and that mentioned in the Intimation letter received by the Income-tax Department.

Take photocopy of all the TDS Certificate on which you have relied and submit the copy of the same along with a covering letter (enclosed) to the concerned Income-tax Assessing Officer.

Wrong data in Income-tax Return

Compare your ITR – V and Demand Notice and find the head of Income in which there is a difference

Make a Rectification Application by writing a letter to the concerned Income-tax officer who has raised the demand requesting him to correct the mistake (Sample Letter enclosed). Do remember to give all relevant documents viz. Form 16, ITR-V, Bank statements etc for the corresponding year.

Please Note: This advice is of a general nature only, is not intended to be complete or definitive. It is not a substitute for professional and expert advice, and may not be appropriate or sufficient for your particular case. You should obtain professional advice before taking any action in relation to any matter referred in this letter to address your particular situation.

SAMPLE REPLY
(IN REPLY TO THE INTIMATION U/S 143(1) RECEIVED FROM CENTRALISED PROCESSING CENTER)
Date: _______

From:

To

Income-tax Officer (CPC)
Post Bag 1 Electronic City Post Office
Bangalore - 560100

Sir,

Re: Your notice of demand for the A.Y. 2009-10 Communication Reference number: CPC/0910/_________________________ PAN: __________________- request regarding.

Sub: Request to check the details at your end due to difference in Total Income / Deduction and Tax thereon considered by you and reported by me.

I am in receipt of Demand Notice for Rs. ____________ for the A.Y. 2009-10. In this connection I would like to mention that there appears to be some error in Income considered by you and as reported by me in my Income-tax Return.

The Total income for the said year is Rs. ____________ (which is clearly reflected in my Income-tax Acknowledgement ITR-V) and the total Income considered by you is Rs. _____________.

There seem to be an apparent error in the in the demand raised by your good self. May I therefore request you to kindly rectify the mistake and till then I further request your good self to keep the said demand in abeyance. The income reported by me can be easily verified from ITRV attached herewith.
I once again confirm that I have reported all the Income chargeable to tax during the said year and no Income has remained to be offered for taxation.
I hope that you will take an early and necessary step to rectify the same.
In the ending, I request you to kindly let me know, if I can provide you with any other details for verification and necessary rectification.

Thanking you,

Yours faithfully,

(NAME)

Selection for Scrutiny - Certain guide lines

Guide Lines for selection of cases for Scrutiny During 2010-11
1. Selection of cases for scrutiny during the financial year 2010-11 will be done primarily through CASS this year. Manual Selection for scrutiny this year will be limited only to a few cases listed below
2. List of cases selected during each month in accordance with selection criteria mentioned below shall be submitted by the Assessing officers to their respective Range heads by the 15th of the following month and also displayed on the notice Board of their offices .
3. These guidelines are meant only for the use of officers of the Income Tax Department .These are not to be disclosed even if a request is made under Right to Information Act, In view of the decision of the Central Information Commission in the case of Shri Kamal Vs Director (ITA-II),CBDT(order no CIC/AT/2007/00617 dated 21.02.2008)
Selection criteria Applicable to all return at all stations
a) Value of International transaction as defined in 92B exceeds 15 Crore.
b) Cases involving addition in an earlier assessment year in excess of Rs 10 lacs on a substantial and recurring question of law or fact which is confirmed in appeal or is pending before on appellate authority.
c) Cases involving addition in an earlier assessment year on the issue of transfer pricing in excess of Rs 10 Lakh or more.
d) Assessment in survey cases for the financial year in which survey was carried out. This criteria will not apply if all of the following conditions are fulfilled:
i. There are no impounded books or documents.
ii.There is no retraction of disclosure, if any, made during

the survey.
iii. Declared income, excluding any disclosure made during the survey, is not less than the declared income of the preceding year.
e) Assessment in search & Seizure cases to be made under section 158B, 158BC, 158BD, 153A, 153C & 143(3) of the IT Act.
f) Assessment Initiated under section 147/148 of the IT Act.
g) Assessing officer may select any return for scrutiny after recording he reason and obtaining approval of the CCIT/DGIT. The cases under this category should be selected if, there are compelling reasons and the case is not selected through CASS. These cases should be watched by CCIT/CIT in respect of the quality of assessment.
(F.NO.225/93/2009/ITA.II)