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TDS assessees to quote unique number in I-T return
Press Trust of India / New Delhi Jun 23, 2009, 16:10 IST

Assessees whose tax is deducted at source will have to wait for some time this year before filing returns as they will be required to quote a new number in the form.     

The new number, Unique Transaction Number (UTN), has been made mandatory because there are some individuals having more than one permanent account number (PAN), sources said.     

The income-tax department has asked individual assessees whose tax is deducted or collected at source to quote the UTN.     

The UTN will be given by depository NSDL to those whose tax is deducted or collected at source and individual assessees could get the numbers from deductors.     

"Assesses must ensure that the deductor and the collector have provided them with separate UTNs in respect of each TDS and TCS transaction," informed a recent circular issued by the department.     

When asked whether NSDL has started giving UTNs, tax officials said the department has asked the depository to communicate on the progress in this regard by June 30.     

Also, taxpayers will be able to get the claim only if they quote their UTN.

"Therefore, the credit for any TDS or TCS claim will be allowed, among others, if the assessee quotes the relevant UTN for every TDS and TCS claim and the said UTN matches with the UTN in the database of the Income Tax Department, the circular said.     

The department has made some changes in the income tax return forms for the assessment year 2009-10, providing a space for UTN.     

Welcoming the move, leading law firm Amarchand Mangaldas partner Aseem Chawla said the move is a step towards achieving the larger objective of online tax administration system.     

Tax is deducted at source in case of salaried employees, interest earned on fixed deposits in banks and so on.

Taxpayers still have about 40 days to file tax returns, so they should wait for their UTN, experts said.

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