TDS/TCS payment and reporting: claims allowed only where payment, reporting and UTN matching requirements are met. The Board redesigns the TDS and TCS payment and information reporting system so that credit for TDS/TCS is allowed only if the deductor/collector has deposited the amount, has electronically furnished deductee particulars to the TIN with an income tax challan in Form 17, and the assessee's claim matches the deductor's reported information; each successful remittance and upload is assigned a Unique Transaction Number (UTN) to be quoted on certificates and used for reconciliation.
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TDS/TCS payment and reporting: claims allowed only where payment, reporting and UTN matching requirements are met.
The Board redesigns the TDS and TCS payment and information reporting system so that credit for TDS/TCS is allowed only if the deductor/collector has deposited the amount, has electronically furnished deductee particulars to the TIN with an income tax challan in Form 17, and the assessee's claim matches the deductor's reported information; each successful remittance and upload is assigned a Unique Transaction Number (UTN) to be quoted on certificates and used for reconciliation.
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