National Insurance Academy, Pune|Financial Management & Financial Services
P863 | Programme on Tax Deduction at Source (TDS) Matters for LIC
Academic Year 2026-2027
Duration
2Days
Scheduled Dates
15 Oct 2026 - 16 Oct 2026
17 Dec 2026 - 18 Dec 2026
Background
The Income Tax Act 1925 has provisions under various sections under which tax has to be deducted at source (TDS) at prescribed rates from various payments. Apart from deduction of tax, there is responsibility of remittance of the deducted tax followed by issuance of TDS certificates & filing of quarterly TDS returns within a given time frame. In case of any default, interest & penalties are levied.
The LIC is a gigantic organization having 2048 branches,113 Divisional offices and 8 Zonal offices with Central Office in Mumbai. Though there is one PAN for LIC there are many TANs as each unit making payment takes care of observing the provisions of TDS.
The TDS provisions are required to be observed meticulously. However, staff members may not be aware of the relevant provisions. Failure to comply with the provisions results in payment of interest apart from penalties being levied under the tax rules. It is also required to be disclosed in Tax Audit Report which can well be avoided.
A structured two-day training programme covering both the theoretical framework and practical application of Tax Deducted at Source (TDS) shall be conducted to ensure comprehensive understanding and effective implementation.
Learning Objectives
To increase awareness regarding tax compliance, inputs regarding theoretical & practical aspects of TDS shall be imparted to the trainees .This will lead to better tax compliance at operational units.
To create Awareness about TDS matters among the trainees to avoid defaults, interest & penalties.
Key Contents
Brief history of Income Tax
Silent features of the Income Tax Act.1925
TDS-What, Why & How?
Detailed provisions of the Sections dealing with TDS from various payments, including payments to NRI
Provisions pertaining to, Registration on TDS module, Generation of Challan Remittance of TDS, Issuance of TDS certificates through the online TDS platform (TRACES) of the Income Tax Department.
Filing of TDS returns- (preparation of TDS files with TDS Utility, validation of file, uploading of file through TIN facilitator
Downloading error Report, carrying out correction & filing of the revised returns.
Who Should Attend
Officials from LIC from their operating units responsible for payments & TDS as identified by LIC/CO/HRD in consultation with CO/ F&A
