UTN code
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Poonam Vaishnav
Jun 2, 2009, 12:04:39 AM6/2/09
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Dear Members
My quarey is it necessury to mention UTN for the credit of TDS in ITR.Please reply me soon.
chandramouiraghavan
Jun 11, 2009, 6:23:47 AM6/11/09
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Yes it is required to claim credit of the TDS.
chandramouli
chandramouli
Jigar Shah
Jun 9, 2009, 10:12:55 AM6/9/09
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FREE US FROM THIS MESS
& STRESS!
A Distressed Taxpayer’s Fervent Appeal To The FM
To Resolve The Unprecedented Return Filing & TDS Crisis!
Dear Mr. FM,
This open letter addresses to you the deep concern and predicament of millions of Indian Income-tax payers, who are facing an almost unprecedented crisis created in India’s tax history.
The Central Board of Direct Taxes (CBDT) has under its Circular No. 3 dated 21st May, 2009 directed that the credit for any tax deducted at source (TDS) or tax collected at source (TCS) claim in the income-tax return will be allowed only if the taxpayer quotes the relevant unique transaction number (UTN) for such claim and the said UTN matches with the UTN in the database of the Income Tax Department.
This announcement from the CBDT, coming nearly two months after the end of the financial year, more particularly when no system has still been put in place until date to generate UTNs for crores of TDS/TCS transactions effected during FY 2008-09, has virtually shocked millions of salary earners, investors, senior citizens and small business concerns, who have been rendered absolutely clueless as to when it would be possible to file their tax returns, seek tax credit and consequential tax refunds.
The further assertion by the CBDT, that such UTNs proposed to be now generated will be relied upon even for FY 2007-08, threatens to critically stall the processing of the huge number of pending tax refunds relating to FY 2007-08. Moreover, Circular No. 2 of even date has made it mandatory for all deductors to make online payments of TDS/TCS with effect from 1st June, 2009 and filing of compliance statements and returns only via the electronic mode, without even taking into consideration several ground realities and functional aspects involved.
Apart from hurting the taxpayer sentiment, the resulting impact of the above three announcements will not only severely hamper the issue of timely refunds due to millions of common taxpayers for FY 2007-08 and FY 2008-09, but also delay the payment of self assessment taxes and TDS in FY 2009-10. Quite ironically, this would be against the very spirit of the earnest efforts undertaken by your Government through stimulus packages for boosting the Indian economy.
Our apprehensions are not unwarranted, keeping in view the fact the National Securities Depository Limited (NSDL), who has been recently assigned this mammoth task, to generate UTN for every TDS and TCS transaction in FY 2007-08 and FY 2008-09 (the total number of which would run into several crores) and further implement the same for FY 2009-10, does not appear to be even geared up to handle the same.
Infact, even as on date, in response to the search of UTN on the Tax Information Network (TIN) website of NSDL, the response is “Your Search - UTN - did not match any files on this site.” Sir, it appears that the CBDT has attempted to put the cart before the horse, in as much as new procedural mandates are being sought to be introduced both retrospectively and prospectively, without adequate notice to taxpayers and even without the necessary systems in place. While the underlying objective of the new procedure may be justified, its timing and mode of implementation are seriously flawed and thus highly questionable. Sir, TDS/TCS constitutes nearly 65% of the personal income-tax collection of your budget and any thoughtless tinkering with its systems can only create chaos and turmoil!
Keeping in view the grave hardships and practical difficulties faced by every common taxpayer (your aam aadmi), we earnestly request you to revoke the operation of the CBDT directions for FY 2007-08 and FY 2008-09 and further defer the implementation of the new guidelines for FY 2009-10 until the relevant issues get to be resolved.
Thanking you in anticipation....
--
Thanks & Regards
CA Jigar Shah
309, Basant house,
Opp.HDFC Bank Ltd,
Navrangpura Jain Derasar Road,
Navrangpura, Ahmedabad-380009.
Phone:
L.No. 079-26424710,66054999.
M.No.:9898267537
& STRESS!
A Distressed Taxpayer’s Fervent Appeal To The FM
To Resolve The Unprecedented Return Filing & TDS Crisis!
Dear Mr. FM,
This open letter addresses to you the deep concern and predicament of millions of Indian Income-tax payers, who are facing an almost unprecedented crisis created in India’s tax history.
The Central Board of Direct Taxes (CBDT) has under its Circular No. 3 dated 21st May, 2009 directed that the credit for any tax deducted at source (TDS) or tax collected at source (TCS) claim in the income-tax return will be allowed only if the taxpayer quotes the relevant unique transaction number (UTN) for such claim and the said UTN matches with the UTN in the database of the Income Tax Department.
This announcement from the CBDT, coming nearly two months after the end of the financial year, more particularly when no system has still been put in place until date to generate UTNs for crores of TDS/TCS transactions effected during FY 2008-09, has virtually shocked millions of salary earners, investors, senior citizens and small business concerns, who have been rendered absolutely clueless as to when it would be possible to file their tax returns, seek tax credit and consequential tax refunds.
The further assertion by the CBDT, that such UTNs proposed to be now generated will be relied upon even for FY 2007-08, threatens to critically stall the processing of the huge number of pending tax refunds relating to FY 2007-08. Moreover, Circular No. 2 of even date has made it mandatory for all deductors to make online payments of TDS/TCS with effect from 1st June, 2009 and filing of compliance statements and returns only via the electronic mode, without even taking into consideration several ground realities and functional aspects involved.
Apart from hurting the taxpayer sentiment, the resulting impact of the above three announcements will not only severely hamper the issue of timely refunds due to millions of common taxpayers for FY 2007-08 and FY 2008-09, but also delay the payment of self assessment taxes and TDS in FY 2009-10. Quite ironically, this would be against the very spirit of the earnest efforts undertaken by your Government through stimulus packages for boosting the Indian economy.
Our apprehensions are not unwarranted, keeping in view the fact the National Securities Depository Limited (NSDL), who has been recently assigned this mammoth task, to generate UTN for every TDS and TCS transaction in FY 2007-08 and FY 2008-09 (the total number of which would run into several crores) and further implement the same for FY 2009-10, does not appear to be even geared up to handle the same.
Infact, even as on date, in response to the search of UTN on the Tax Information Network (TIN) website of NSDL, the response is “Your Search - UTN - did not match any files on this site.” Sir, it appears that the CBDT has attempted to put the cart before the horse, in as much as new procedural mandates are being sought to be introduced both retrospectively and prospectively, without adequate notice to taxpayers and even without the necessary systems in place. While the underlying objective of the new procedure may be justified, its timing and mode of implementation are seriously flawed and thus highly questionable. Sir, TDS/TCS constitutes nearly 65% of the personal income-tax collection of your budget and any thoughtless tinkering with its systems can only create chaos and turmoil!
Keeping in view the grave hardships and practical difficulties faced by every common taxpayer (your aam aadmi), we earnestly request you to revoke the operation of the CBDT directions for FY 2007-08 and FY 2008-09 and further defer the implementation of the new guidelines for FY 2009-10 until the relevant issues get to be resolved.
Thanking you in anticipation....
On 6/2/09, Poonam Vaishnav <bhavink...@gmail.com> wrote:
Dear MembersMy quarey is it necessury to mention UTN for the credit of TDS in ITR.Please reply me soon.
Thanks & Regards
CA Jigar Shah
309, Basant house,
Opp.HDFC Bank Ltd,
Navrangpura Jain Derasar Road,
Navrangpura, Ahmedabad-380009.
Phone:
L.No. 079-26424710,66054999.
M.No.:9898267537
Prateek Jhajharia
Jul 17, 2009, 1:13:46 PM7/17/09
to IndianTax
I don't its mandatory...
TIN No is compulsory but UTR number is not.
TIN No is compulsory but UTR number is not.
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