CA Neha Agrawal (CA) (825 Points)
09 May 2022Is it compulsory for tax deductor to issue TDS certificate/Form 16A to service provider at the end of each quarter (Within 15 days from the due date of furnishing quarterly TDS returns).
As the detail of tax deducted is available in 26AS, do we still require to issue quarterly TDS certificate.
What happens if deductor of tax does not furnish the tax certificate.
prasad Nilugal
( GST Practitioner & Accounts )
(14215 Points)
Replied 09 May 2022
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 10 May 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14215 Points)
Replied 10 May 2022
JJJ
(Need help)
(673 Points)
Replied 10 May 2022
Yes it is mandatory by law. But of course the law was probably written a long time ago and never updated!
In reality, almost no one asks for non-salary Form 16s because the 26AS provides a summary of all the TDS deposited against a PAN by all deductors.
Like mentioned above, download it and save it on the computer. Then if anyone asks, you just need to generate the forms.
CA Puja Sharma
(Chartered Accountant)
(4891 Points)
Replied 10 May 2022
TDS certificate must be issued within 15 days from the date of filing of the TDS return.
It is important to download the certificate from the traces portal.
The customers can take the effect of the TDS in their income tax return from the details mentioned in Form 26AS except in the case of salary TDS.
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 10 May 2022
CAclubindia
