16 b certificate

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2015 is there any penality if we do not downloading 16B TDS Certificate available on traces website within 15 days?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 June 2015 but y to delay better download it and preserve for future purpose.

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Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2015 I don't know the exact details so i am not downloading that's a reason i asked whether there is any penalty if we don't download?

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 June 2015 there is no penalty for late downloading.

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JUGAL PATEL

JUGAL PATEL (Expert)
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05 June 2015 There is a penalty for this please refer this http://taxguru.in/income-tax/delay-download-tds-certificate-attracts-penalty.html

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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07 June 2015 Agree with Jugal ji.

Please refer section 203 of Income Tax Act 1961 along with Rule 31(3A).

"every person responsible for deduction of tax under section 194-IA shall furnish the certificate of deduction of tax at source in Form No.16B to the payee within fifteen days from the due date for furnishing the challan-cum-statement in Form No. 26QB under rule 31A after generating and downloading the same from the web portal specified by the Director General of Income-tax (System) or the person authorised by him."

Penalty for contravention is levied u/s 272A: Delay in issue of TDS certificate shall result in penalty of Rs. 100/- for each day of default not exceeding amount of tax deductible/collectible.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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07 June 2015 To know how to download and tutorial for downloading form 16B check out the link given below:

http://www.charteredclub.com/form-16b/