income tax

How to report required data in clause 34(a) of Form 3CD when TAN is not available

Many of the assessee’s who are running small-scale business do not require TAN. However, as per revised reporting requirements, mentioning TAN is compulsory in Form 3CD for reporting whereever any of the payments covered under Chapter XVII-B /BB are made by the assessee.

As per latest available official utility of Income-tax Department, “DTAN99999T” can be entered in TAN field in clause 34(a) of Form 3CD where TAN is not available. All professionals are advised to enter this TAN instead of skipping the field incase of non-availability of TAN.

Screenshot 34(a)

Advance Tax due date FY 2013-14

Advance tax is to be paid by all the assessees whose annual tax liability is more than Rs.10,000. The date for last installment of advance tax for F.Y. 2013-14 i.e. 15th March 2014 is not far away now.

All the assessees (both company and non-company) are advised to estimate there tax liability for current financial year and deposit the 100% of estimated tax liability after netting off previous advance tax payments and TDS done by deductors (already made and estimated during march) on or before 15th March 2014.

Payment is to be made through challan number 280 by selecting Advance Tax (100) as type of payment and period as Assessment Year 2014-15.

Should you require any assistance in computing your annual tax liability, feel free to drop a mail with relevant details.