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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.... 1.  As per first proviso to sub-section (6A) of section 206C of Income-tax Act, 1961, any person, other than a person 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 hi....

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.... Including & from 2017-18 206CB and/or 206(6A) ^[1] The AO should ensure that interest on non-collection of the whole or any part of the tax or failure in payment after collection as required by or 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 ne....

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....t is to be given: Locate and select No- Collection transaction for which request for Form 27BA is to be submitted. 6. E-Filing Portal   Authorize Membership Number of Accountant^[4] : Collector, after ascertaining the membership number of the accountant who is to certify 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 wi....

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....thorize him with respect to Short- Collection and/or Non- Collection. 2. Receive DINs and/or Alpha-Numeric Strings with respect to each of the Short- Collection and/or Non- Collection from the Collector. 3. After being so authorized by Collector and upon receiving DINs and/or Alpha-Numeric Strings from Collector; login to E- Fling Portal with Accountant credentials. 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....