KNOW YOUR TDS Citizens / VLEs can know their Tax Credits through KNOW YOUR TDS service. TDS particulars/ Form 26AS will be send to Applicants within 7 working Days from the date of application. Benefits: 1. Form 26AS is nothing but Online Tax Credit Statement of your PAN number as per ITD records. 2. Without waiting for the Form 16 Applicant can get the information relating to Tax/ TDS Credits 3. In case of any mismatch of TDS credit, Applicants can follow up the Deductors for missing tax credits immediately. They need not to wait till the end of the financial year. 4. Tax Credit Statement shows the Payments made to Applicant and respective Tax Credits paid to ITD by way of TDS returns. 5. Still most of the Form 16s are issuing manually in which TAN number information is missing. In such cases, this Online Tax Credit Statement will help the Applicants to file their Tax returns with clear information relating tax deductions. 6. Not only TDS credits, it will also reflect Self-Assessment taxes paid and refunds processed for that particular financial year. 7. Returns can be filed within in due date once all the relevant tax credit information is available through this service. 8. TDS Refunds will be processed at the earliest due to clear information from Form 26AS.
Documents Required: Duly filled Application Form of KNOW YOUR TDS Service.
IT NOTICE COMPLIANCE
If any citizen or VLE gets a notice form Income Tax Department, which requires online compliance at Income Tax Portal, this service will help to submit the Online Compliance for such IT Notice. 1. Online Compliance at Income Tax Portal is must for those who received a Notice from Income Tax Department / Central Processing Centre (ITD). 2. If the Notice Compliance is not done within the stipulated time, appropriate proceedings under Income Tax Act, 1960 will be initiated against the Assessee. 3. Some Examples for the Nature of Notices. a) Non Filing of Income Tax Return Regarding b) Information for TDS Credits / mismatch c) Income Tax Demand Notices (in this case demand raised should paid and updated at ITD Portal) d) Information called for Huge Transactions recorded at Banks. e) Notices seeking information relating to sale of assets and Agricultural lands. f) Notices seeking information relating to stock market transactions. 4. This service extends to notices which required online compliance at ITD Portal only and not for other cases.
Document Requirements: 1. Application for IT Notice Compliance. 2. Copy of the Notice received from Income Tax Department. 3. Any information relating to the nature of transactions referred in the IT Notice.
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