14 TDS Certificates

This topic describes the information about TDS Certificates screen. This option provides a consolidated view of TDS for all user's accounts and deposits.

TDS or Tax Deducted at Source, is a means of indirect tax collection by Indian authorities according to the Income Tax Act, 1961. As per the Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain limits. TDS has to be deducted at the rates prescribed by the tax department. The concept of TDS was introduced with an aim to collect tax from the very source of income. TDS is applicable on the various incomes received such as salaries, interest received etc. which is deducted when income is generated rather than at a later date.

TDS is deducted when the interest payable or reinvested on Recurring Deposits or Fixed Deposits is above the government specified limit in a financial year. A retail user can view the TDS deducted from his account for the financial year. For taxation purposes, the retail user can download the TDS report for all his accounts.

To generate TDS Certificates:

1. Perform any one of the following navigation to access the TDS Certificates screen:
   • From the Dashboard, click Toggle menu, and then click Menu. From the Menu, click Accounts, and then click Certificates . From the Certificates, click TDS Certificates.
   • Access through the kebab menu of Certificates (Balance Certificates & Interest Certificates).
2. Navigate to one of the above paths.
   The TDS Certificatesscreen appears.

   Figure 14-1 TDS Certificates

   
   

   
   Description of "Figure 14-1 TDS Certificates"

   
   

   Note:

   The fields which are marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 14-1 TDS Certificates - Field Description

   Field Name	Description
   Select Financial Year	The financial year for which TDS deducted on different accounts is to be viewed. Note: TDS of only the previous three years are displayed.

3. From the Select Financial Year list, select the year for which TDS deducted on accounts is to be viewed.
4. Click Apply to generate the TDS certificate for the specified year.
   The TDS certificate gets displayed. Click Reset to clear the details entered.

   Figure 14-2 TDS Certificates

   
   

   
   Description of "Figure 14-2 TDS Certificates "

   
   

   Note:

   The fields which are marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 14-2 TDS Certificates - Field Description

   Field Name	Description
   Filter Criteria	The selected year for which TDS is required to be viewed.
   Records for Tax Deducted	The following fields are displayed as records for the tax deducted in the user’s deposit accounts for the selected year.
   Total TDS deducted	Displays the total TDS deducted on different accounts for the selected financial year.
   Deposit Account	The different account numbers on which TDS was applicable are listed down.
   Interest Earned	The interests earned on each account for the financial year is displayed against the account record.
   Tax Deducted	The TDS deducted on each account for the selected financial year is displayed against the account record.

5. Click Download to download the certificate in pdf format.
   Click on the icon to change filter criteria.