PRESS RELEASE

INCOME-TAX ACT

CBDT amends Rules relating to TDS

CBDT Press Release No. 402/92/2006-MC (27 of 2010), dated 2-6-2010

The Central Board of Direct Taxes (CBDT) have amended the Rules relating to TDS provisions date and mode of payment of tax deducted at source (TDS), TDS certificate and filing of ‘statement of TDS’ (TDS return) vide Notification No. 41/2010; SO No. 1261(E) dated 31.05.2010. The amended rules will apply only in respect of tax deducted on or after 1st day of April 2010.

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 15th June). The revised due dates for furnishing TDS return are

Sl. No. Date of ending of the quarter of the financial year Due date
1. 30th June 15th July of the financial year
2. 30th September 15th October of the financial year
3. 31st December 15th January of the financial year
4. 31st 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 31st 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’

Related Post:-

  1. Download Latest Form 16, 16A, 27D, 24G in Excel Format for A.Y. 2011-12
  2. Income-tax (Sixth Amendment) Rules, 2010 – Substitution of rules 30, 31, 31A, 31AA, 37CA and 37D; Form Nos. 16, 16A and 27D; insertion of Form No. 24G and omission of rule 37A
  3. Summary/Analysis of recent CBDT amendment of rules relating to TDS/TCS Applicable from 01.04.2010
  4. New Changes in TDS Rules related to due date for furnishing TDS return/Certificate, inclusion of receipt number in TDS certificate and Requirement of filing form No. 24G by government companies
  5. Summary of Recent Amendments in TDS rules vide Notification No. 41/2010 Applicable from 01.04.2010

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0 responses to “New changes in TDS Rules”

  1. VIVEK says:

    What will be the due date for TDS if 7th of subsequent month is a sunday..

    if it is 8th the next day is that mentioned in the act…

  2. SHISHUPAL JHA says:

    what will be due date of deposit of TDS deducted on last day of financial year

  3. Mini says:

    Hi,

    Heard that no need to file the Annual return if the salary is less than 5 lakhs. The employer is suppose to deduct the tax on monthly and have to file quarterly returns but no need to file the annual return for the person who are drawing less than 5 lakhs as salary. Employer have to give the form no 16. thats all.. is this correct?.

  4. RUHi says:

    Read the lastest amendment made in this regard

    Due date for furnishing TDS return for the last quarter of the financial year has been modified to 15th May (from earlier 15th June). The revised due dates for furnishing TDS return are

    31st March 15th May of the financial year immediately following the financial year in which deduction is made

  5. rajkumar says:

    i want know about in audit .
    1- audit under Trans. Rs. 50,00,000/-
    2- audit rules of transportation firm
    3- Audit rules of fleet owner .

    Please guide Me thanks

  6. pradeep sharma says:

    Dear sir

    what is due date for payment of tds for whole march for non-salary. ( 7 april & 30 april or 30april)

    Pls sugg.

  7. Pavan Kumar says:

    Can you please help me out what is due date to pay Provisional Tax?

    • PRAKASH says:

      whether it is profession tax (Maharashtra) or provisional tax? if it is P.T. than it should be paid before 31st July 2011 for f.y.2010-11.

  8. SANJOY SADHYA says:

    As per the existing rule 37A, the quarterly TDS Return with respect to all non-resident deductees was required to be filed under Form 27Q.

    However vide the recent CBDT notification dated 31-05-2010, new TDS rules have been prescribed w.e.f. F.Y. 2010-11 by omitting rule 37A and amending rule 31A(1)(b).

    Request please clarify whether as per the amended rule 31A(1)(b), the quarterly TDS Return w.e.f. F.Y. 2010-11 is to be filed under

    a. Form 27Q with respect to individual non-resident deductee only, and

    b. Form 26Q with respect to all other non-resident deductees (including non-resident companies)

  9. zinobia Movdawala says:

    Quartely compliance of TDS certificate will create Cumbersome and tedious process of paperwork on quaterly basis. Furthur when are entities eligable to apply to A.O. for quaterly payment of TDS is not clarified in detail.

  10. jogindar sain sud says:

    will babus of PSU banks comply?They are contiuing to issue incomplete TDS certificate(FROM 16A). I have got atleast three incomplete TDS certificates for A.Y 2011-12 despite my objections.

  11. CA. Suresh Gupta says:

    for the FY 2010-11 due date of deposit of tax for march transaction is 30th April 2011 not 31st may 2011.

  12. Gaurav says:

    this make dificulty as last date of deposit 30th apr& return 15th may 31st mar bill takes time

  13. Vishwanath says:

    But now there is one confusing thing is that the deduction made on 31st March is due to deposit tax till 31st May, then how the return can be submitted by 15th of May…?

  14. Sakthivel says:

    Due date for deposit of TDS deducted on the last day of financial yar is 30th April.

  15. Sunny says:

    sir last quarter return filing date has been revised to 15 may. than what is the date of paying tax of march (e.g sec 194 A) which was earlier 31 may

  16. Abhishek vashisht says:

    then what will be the date of deposit for the march month

  17. vaibhav says:

    can u pls tell me, what were the due dates earlier?

  18. PANKAJ GOYAL says:

    what will be due date of deposit of TDS deducted on last day of financial year

  19. Priya says:

    How find out UTN, help me.

  20. Pankaj Jhawar says:

    If the last date of deposit of tax for provision of entry is 31 may then how the return will be filed on 15 may for the last quater?????

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