What is Tax
Information Network? Why to register?
Thursday, April 19,
2012, 13:27 [IST]
Tax Information Network (TIN) is an initiative from the Tax
Department of India (ITD) for the modernisation of the current system for
collection, processing, monitoring and accounting of direct taxes using
information technology. This is a step taken to file and get information on Tax
easily without much hassles. This measure was established by National
Securities Depository Limited (NSDL) on behalf of ITD.
However, not many people know about this process, so lets have a
brief look on what is it about and how is it helpful.
Once you create an account the system will link to banks, ITD and
tax payers, deductor. You need to register with one of the TIN centres
empanelled and can visit https://www.tin-nsdl.com/index.php
Benefits
Tax deducted at source (TDS) and advance tax payments can be
monitored through TIN
Through permanent account number (PAN) data can be fetched on tax
payers filing returns.
Money laundering and the flow of Black money can be tracked.
TIN has three sub system
Electronic Return Acceptance and Consolidation
System (ERACS) consists of an
infrastructure for interface with the taxpayers (a nation wide network of
TIN-Facilitation Centres i.e.TIN-FC) and a web-based utility for upload of
electronic returns of Tax Deduction at Source (TDS) & Tax Collection at
Source (TCS) and Annual Information Return (AIR) to the central system of TIN.
Online Tax Accounting System (OLTAS) for daily upload to the central system, the
details of tax deposited in various tax collecting branches across the country.
Central PAN Ledger Generation System (CPLGS) which is the central system that consolidates
for each PAN:
Details of tax deducted/collected on its behalf (TDS/TCS) which is
obtained by matching the TDS/TCS returns submitted by the deductors/collectors
with the tax deposit (challan) information from the banks and details of the
tax deposited directly by the taxpayer with the bank.
TIN provides the following Online Services
through this website:
- Facility
for a PAN holder to view the details of tax deducted/collected on its
behalf and also tax paid by itself
- Facility
for deductors to verify status of e-TDS/TCS statements submitted to TIN-FC
or online at this website by providing TAN and respective provisional
receipt number (PRN)
- whether
challans in statements have been matched with challans uploaded by banks
- Number
of deductees whose PAN accounts have been booked
- Line
number of deductees in statements whose PAN accounts could not be booked
- whether
a specific PAN account has been booked
- Facility
to submit TDS/TCS statements and related correction statements through
internet.
- Facility
to submit Annual Information Returns (AIR) and related supplementary
returns through internet.
- Facility
to pay tax online, wherein the taxpayer can fill up and submit the challan
through Internet. The tax payer has to necessarily have a bank account
with net banking facility in any of the stipulated banks.
- Facility
for tax payers to enquire online about the status of challans deposited in
banks
- Facility
to apply for PAN online
- Reprint
of PAN card with existing/revised details
- Facility
to apply for TAN online
- Reprint
of TAN allotment letter with existing/revised details
- Facility
to register as an e-Return Intermediary (e-RI). An e-RI is an entity
authorised by ITD to electronically file income tax returns on behalf of
tax payers.
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