Following the automation of TDS returns in 2003, Income Tax Department notified an ‘electronic filing of returns of tax Collected at source scheme, 2005. It is applicable to all deductors furnishing their TCS return in electronic form. As per this scheme:
It is mandatory for corporate and government deductors to furnish their TCS returns in electronic form (e-TCS return) from F.Y. 2004-2005 onwards.
Deductors (other than government and corporates) may file TCS return in electronic or physical form.
NSDL as the e-TCS intermediary (appointed by Income Tax Department) receives, on behalf of Income Tax Department, the e-TCS returns from the deductors.
Form 27EQ is a Quarterly return of collection of tax under section 206C of Income Tax Act, 1961.
To generate Quarterly eTCS returns in Form 27EQ:
Go to Gateway of Tally > Display > Statutory Reports > TCS Reports > ETCS Forms
By default, the Language and Format is preset as Restricted (ASCII Only) and SDF (Fixed Width) respectively.
In the Exporting eTCS Forms screen, press Backspace.
Specify the File Name in the Output File Name field.
Note: Set the output filename with .txt extension as the NSDL’s File Validation Utility (FVU) accepts only .txt files.
Press Enter to accept the Person Responsible Details (The Address details are automatically defaulted from the Company masters in the Person Responsible Details column).
As per the new E-TCS structure introduced Mobile Number or STD Code with Telephone number have to be provided to generate E-TCS forms. To meet the requirement, below fields are introduced
Mobile Number: This field is provided to specify the mobile number of the assessee
STD Code: This field is provided to enter the STD code
Telephone: This field is provided to enter the telephone number of the assessee
Note: As per the new Data Structure either the Mobile Number or STD Code with Telephone number is must be specified in the E-TCS file.
* If the user tries to navigate without specifying the Mobile number or STD Code or Telephone number application will not allow the user to move further.
Select Yes or No as applicable for Is there a Change in Address since last Return.
Under Other Details,
In Category (deductor/Collector) field select the Dedcutor Category. e.g. Association of Person (AOP)
Note: This field is provided as per the new data structure effective from 1-10-2009. Collector Category details selected here will be captured in the e-Tcs file.
Specify the applicable date in the From and To fields
Specify 7-7-2010 in the Challan Date Till field (i.e., Challan date to be considered for TDS payments made for the respective quarter/period)
In Form Name field Tally.ERP 9 by default displays Form 27EQ.
Specify the Place and Date of Filing Returns
Enter the From and To date in Other Details.
Enter the period in Challan Date Till for which Form 27EQ has to be printed by considering the TCS Challans.
Select the Form Name from Form Types.
Enter the Place and Date.
Press Enter or select Yes to export.
The exported file is placed in the Tally.ERP 9 Directory with the file name as specified above.
Note: It is mandatory to validate the TCS returns with File Validation Utility (FVU) to confirm to the requirements as prescribed by the Income tax department. In case of any errors in exported file (Returns), the FVU prompts an error message with error code; the assessee may correct the same and re-validate the returns. The File Validation Utility is available for Quarterly and Annual returns separately.
To validate the e-TDS file generated in New Format use the FVU Version 3.0
Form 27E is an Annual return of collection of tax under section 206C of Income Tax Act, 1961.
To generate Form 27 E follow the same procedure as stated for Form 27EQ.
'E-TCS Forms' has been shared with
