CBDT Amends Rules Relating to TDS
Forms for TDS certificate have been revised to include the receipt number of the TDS return filed by the deductor. Now the Tax-deduction Account Number (TAN) of the deductor, Permanent Account Number (PAN) of the deductee, and Receipt number of TDS return filed by the deductor will form the unique identification for allowing tax credit claimed by the taxpayer in his income-tax return.
Government Authorities (Pay and Accounts Officer or Treasury Officer or Cheque Drawing and Disbursing Officer) responsible for crediting tax deducted at source to the credit of the Central Government by book-entry are now required to electronically file a monthly statement in a new Form No. 24G containing details of credit of TDS to the agency authorised by the Director General of Income-tax (Systems) .
Due date for furnishing TDS return for the last quarter of the financial year has been modified to 15th May (from earlier 15 th June), as per the Press Release issued by the CBDT through the PIB
Sl. No. | Date of ending of the quarter of the financial year | Due date |
1. | 30 th June | 15 th July of the financial year |
2. | 30 th September | 15 th October of the financial year |
3. | 31 st December | 15 th January of the financial year |
4. | 31 st March | 15th May of the financial year immediately following the financial year in which deduction is made |
Due date for furnishing TDS certificate to the employee or deductee or payee is revised as under
Sl. No. | Category | Periodicity of furnishing TDS certificate | Due date
|
1. | Salary (Form No.16) | Annual | By 31 st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted |
2. | Non-Salary (Form No.16A) | Quarterly | Within fifteen days from the due date for furnishing the 'statement of TDS ' |
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