What Is The Full Form Of PAO In Income Tax?
PAO full form in income tax is Pay and Accounts Office. This office, along with the District Treasury Office (DTO) and the Cheque Drawing and Disbursing Office (CDDO), is key in managing income tax in the country. These offices are the offices, as per the announcement by the Income-tax Department dated 31st May 2010, dealing with Form 24G. This is a very important form for government offices to report taxes deducted or collected by them right at the source. They do this electronically so that they do not need to use paper forms for bank deposits.
Function and Importance of PAO:
The main job of the PAO is to put together and send in Form 24G every month. It shows all taxes deducted from payments for salaries and other kinds of payments both in India and to residents living in other countries. The PAO requires this information to be sent by post with a unique seven-digit number, Accounts Office Identification Number (AIN), given to it by the Directorate of Income Tax (Systems) in New Delhi.
How to File Form 24G:
To file Form 24G, the PAO can use a specific software or a tool called the Form 24G Preparation Utility, which is made by Protean eGov Technologies Limited and is available on the Tax Information Network (TIN) and the ITD website. Once done, you need to check the form using another tool from Protean called the File Validation Utility (FVU). Last but not least, one may also submit the form in a Compact Disk (CD) from any of the TIN-Facilitation Centers, which are also managed by Protean.