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Q4 tds certificate

29 April 2017

When the banks are required to issue form 16A relating to Q4 of FY2016-17 to the deductees?

Is there any order of CBDT to that effect under which they must issue it latest by a date or it is left to their convenience?

Even after expiary of April, it is not available from any bank.

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 29 April 2017

" When the banks are required to issue form 16A relating to Q4 of FY2016-17 to the deductees?"

As per CBDT directives, within FIFTEEN days of filing return of that particular quarter.

Last date of filing Q4 (FY 2016-17) return is 31.05.2017 !!

Amit Kumar Das (Retd) (220 Points)
Replied 29 April 2017

Thank you for quick reply.

As I understand banks may not issue TDS certificate for Q4 of FY 2016-17 before middle of June, '17.

But, I need to file ITR for AY 2017-18 latest by the end of May, '17 after paying full income tax as I will be out of the country from 1st week of June till middle of August and I may not be in a position to file online from the foreign countries I will be visiting.

I can not know my exact tax obligation from bank fd interests without Q4 form16A. Neither I can claim TDS without mentioning certificate nos. in ITR1.

Can you please suggest a way out?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160322 Points)
Replied 29 April 2017

Bank generally issues interest certificate, much before that. (Even available online, through net banking). It gives almost final picture of interest paid/accrued and TDS deducted, if any for the whole year. These calculations are accurate upto 90-95% in most of the cases.

Based on that you can pay balance tax amount and file your return even now. In case of minor changes, you can revise your return by March 2018, without much hassel.

Amit Kumar Das (Retd) (220 Points)
Replied 29 April 2017

Thank you once again for immediate response.

However, interest certificates issued by banks give interest paid/accrued and amount of tds. I will not get tds certificate nos.in interest certificates.

Without tds certificate nos. I cannot claim tds in my return.

There lies the problem.