TaxTMI 
TaxTMI 
Procedure for the purposes of furnishing and verification of Form 27BA for removing of default of Short Collection and/or Non Collection of Tax at Source - Reg.
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....erson referred to in sub-section (1D), responsible for collecting tax in accordance with the provisions of this section, who fails to collect the whole or any part of the tax on the amount received from a buyer or licensee or lessee or on the amount debited to the account of the buyer or licensee or lessee shall not be deemed to be an assessee in default in respect of such tax if such buyer or licensee or lessee- (i) has furnished his return of income under section 139; (ii) has taken into account such amount for computing income in such return of income; and (iii) has paid the tax due on the income declared by him in such return of income, and the person furnishes a certificate to this effect from an accountant in such form as may be ....
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....under this Act shall be paid before furnishing the statement in accordance with the provisions of the Act. [2] Furnishing of Form 27BA in electronic shall be enabled with effect from 15.01.2017. 4. The procedure for electronic filing of Form 27BA is as follows: 1.1 Role of Collector: STEPS PLACE OF ACTION ACTION 1 TRACES Portal Get Details of Short Collection: Collector needs to submit request to get details of short collection. 2. TRACES Portal Enter No Collection transactions: Collector needs to enter details of Non-Collection transaction at TRACES, if any and submit transaction details at TRACES in the rows provided for this purpose. 3. TRACES Portal Submit Request: On submitting request, a Unique Request Number will be g....
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.... Annexure A of Form 27BA, needs to authorize such accountant by entering his membership number in respect of each of the Short- Collection and Non- Collection transactions(in one or more sessions) and submit these authorizations. 7. E-Filing Portal Certification from Authorized Accountant: On successful authorization by Collector, the Accountant so authorized on E-Filing Portal may fill in the relevant details in Annexure A to Form 27BA with respect to the Buyer in question and certify by digitally signing Annexure A. The details of unique DINs and Alpha-Numeric Strings will become visible to the authorized accountant(when he logs into his own account as a registered accountant on E-Filing Portal) only when Collector has authorized such ....
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.... 4. Use DINs and/or Alpha-Numeric Strings to identify the buyer rows which are to be verified. 5. Complete Annexure A to Form 27BA with respect to the concerned Buyer. 6. Submit the Annexure A so completed by digitally signing it. 4.3 Role of e-filing: For Collector Validations TRACES 1. Provide view of Short- Collection and/or Non- Collection transactions to Collector as communicated to E-Filing Portal electronically by CPC-TDS. 2. Allow Collector to locate and select Short- Collection and/or Non-Collection transactions and authorize Accountant(s) with respect to each of these transactions by entering membership number of Accountant(s). 3. Allow Accountants so authorized to view Annexure A to Form 27BA on the basis of DIN and/o....