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TDS Certificates

CA. Brijesh Baranwal 
on 05 June 2013

LinkedIn


Friends,

Once again the season of filing income tax returns has come. Government has notified almost all Income Tax Return (ITR) Forms barring a few, which may be notified in next few days.

TDS certificate is one of the most required documents for filing ITR.

As per section 203 of the Income Tax Act, Every person deducting TDS shall provide TDS certificate with all details.

Form 16 for financial year 2012-13 in case of salaried employees should have been provided by May 31, 2013 and Form 16A should have been provided within fifteen days from the due date for furnishing the statement of tax deducted at source under rule 31A.

Although, Form 26AS is also of help, but it should be used to match the amounts with Form 16/Form 16A, as the case may be.

So, please ask for the TDS certificates from your employer/payer, in case you have not received the same till date.

Rs. 100 per day penalty has been prescribed for delay in providing TDS certificates as per section 272A (2) (g).

Note:

1. The above write up is only for awareness purpose and should not be considered as expert opinion.

2. Please feel free to share with your friends and everyone without any copy right issues.

3. In case of suggestions, please contact: cabrijesh@yahoo.co.in

RELEVANT PROVISIONS

Certificate for tax deducted.

203. [(1)] Every person deducting tax in accordance with [the foregoing provisions of this Chapter]  [shall, within such period as may be prescribed from the time of credit or payment of the sum, or, as the case may be, from the time of issue of a cheque or warrant for payment of any dividend to a shareholder], furnish to the person to whose account such credit is given or to whom such payment is made or the cheque or warrant is issued, a certificate to the effect that tax has been deducted, and specifying the amount so deducted, the rate at which the tax has been deducted and such other particulars as may be prescribed.]

[(2) Every person, being an employer, referred to in sub-section (1A) of section shall, within such period, as may be prescribed, furnish to the person in respect of whose income such payment of tax has been made, a certificate to the effect that tax has been paid to the Central Government, and specify the amount so paid, the rate at which the tax has been paid and such other particulars as may be prescribed.]

Certificate of tax deducted at source to be furnished under section 203.

31. (1) The certificate of deduction of tax at source by any person in accordance with Chapter XVII-B or the certificate of payment of tax by the employer on behalf of the employee under sub-section (1A) of section 192 shall be in—

(a)  Form No. 16, if the deduction or payment of tax is under section 192; and

(b)  Form No. 16A if the deduction is under any other provision of Chapter XVII-B.

(2) The certificate referred to in sub-rule (1) shall specify:—

(a) valid permanent account number (PAN) of the deductee;

(b) valid tax deduction and collection account number (TAN) of the deductor;

(c) (i) book identification number or numbers where deposit of tax deducted is without production of challan in case of an office of the Government;

(ii)  challan identification number or numbers in case of payment through bank;

(d) (i) receipt number of the relevant quarterly statement of tax deducted at source which is furnished in accordance with the provisions of rule 31A;

(ii) receipt numbers of all the relevant quarterly statements in case the statement referred to in clause (i) is for tax deducted at source from income chargeable under the head "Salaries".

(3) The certificates in Forms specified in column (2) of the Table below shall be furnished to the employee or the payee, as the case may be, as per the periodicity specified in the corresponding entry in column (3) and by the time specified in the corresponding entry in column (4) of the said Table:—

TABLE

Sl. No.

Form No.

Periodicity

Due date

(1)

(2)

(3)

(4)

1.

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.

16A

Quarterly

Within fifteen days from the due date for furnishing the statement of tax deducted at source under rule 31A.

(4) If an assessee is employed by more than one employer during the year, each of the employers shall issue Part A of the certificate in Form No. 16 pertaining to the period for which such assessee was employed with each of the employers and Part B may be issued by each of the employers or the last employer at the option of the assessee.

(5) The deductor may issue a duplicate certificate in Form No. 16 or Form No. 16A if the deductee has lost the original certificate so issued and makes a request for issuance of a duplicate certificate and such duplicate certificate is certified as duplicate by the deductor.

(6) (i) Where a certificate is to be furnished in Form No. 16, the deductor may, at his option, use digital signatures to authenticate such certificates.

(ii) In case of certificates issued under clause (i), the deductor shall ensure that—

(a) the provisions of sub-rule (2) are complied with;

(b) once the certificate is digitally signed, the contents of the certificates are not amenable to change; and

(c) the certificates have a control number and a log of such certificates is maintained by the deductor.

(7) Where a certificate is to be furnished for tax deducted before the 1st day of April, 2010, it shall be furnished in the Form in accordance with the provisions of the rules as they stood immediately before their substitution by the Income-tax (Sixth Amendment) Rules, 2010.

Explanation.—For the purpose of this rule and rule 37D, challan identification number means the number comprising the Basic Statistical Returns (BSR) Code of the Bank branch where the tax has been deposited, the date on which the tax has been deposited and challan serial number given by the bank.]

Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.

272A. (1) If any person,—

(a) being legally bound to state the truth of any matter touching the subject of his assessment, refuses to answer any question put to him by an income-tax authority in the exercise of its powers under this Act; or

(b) refuses to sign any statement made by him in the course of any proceedings under this Act, which an income-tax authority may legally require him to sign; or

(c) to whom a summons is issued under sub-section (1) of section 131 either to attend to give evidence or produce books of account or other documents at a certain place and time omits to attend or produce books of account or documents at the place or time, he shall pay, by way of penalty, [a sum of ten thousand rupees] for each such default or failure.

(2) If any person fails—

(a) to comply with a notice issued under sub-section (6) of section 94; or

(b) to give the notice of discontinuance of his business or profession as required by sub-section (3) of section 176; or

(c) to furnish in due time any of the returns, statements or particulars mentioned in section 133 or section 206; or

(d) to allow inspection of any register referred to in or of any entry in such register or to allow copies of such register or of any entry therein to be taken; or

[(e) to furnish the return of income which he is required to furnish under sub-section (4A) or sub-section (4C) of section 139 or to furnish it within the time allowed and in the manner required under those sub-sections; or]

(f) to deliver or cause to be delivered in due time a copy of the declaration mentioned in section 197A; or

(g) to furnish a certificate as required by section 203 [or section 206C]; or

(h) to deduct and pay tax as required by sub-section (2) of section 226;

 [(i) to furnish a statement as required by sub-section (2C) of section 192;]

[(j) to deliver or cause to be delivered in due time a copy of the declaration referred to in sub-section (1A) of section 206C;]

[(k) to deliver or cause to be delivered a copy of the statement within the time specified in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C;]

[(l) to deliver or cause to be delivered the [statements] within the time specified in sub-section (1) of ] he shall pay, by way of penalty, a sum [of one hundred rupees] for every day during which the failure continues:

[Provided that the amount of penalty for failures in relation to  [a declaration mentioned in section 197A, a certificate as required by section 203 and] returns under section 206 and 206C [and statements under sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C] shall not exceed the amount of tax deductible or collectible, as the case may be:]

[Provided further that no penalty shall be levied under this section for the failure referred to in clause (k), if such failure relates to a statement referred to in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C which is to be delivered or caused to be delivered for tax deducted at source or tax collected at source, as the case may be, on or after the 1st day of July, 2012.]

(3) Any penalty imposable under sub-section (1) or sub-section (2) shall be imposed—

(a) in a case where the contravention, failure or default in respect of which such penalty is imposable occurs in the course of any proceeding before an income-tax authority not lower in rank than a  [Joint] Director or a  [Joint] Commissioner, by such income-tax authority;

(b) in a case falling under clause (f) of sub-section (2), by the Chief Commissioner or Commissioner; and

(c) in any other case, by the  [Joint] Director or the  [Joint] Commissioner.

(4) No order under this section shall be passed by any income-tax authority referred to in sub-section (3) unless the person on whom the penalty is proposed to be imposed is given an opportunity of being heard in the matter by such authority.

Explanation.—In this section, "income-tax authority" includes a Director General, Director,  [Joint] Director and an Assistant Director [or Deputy Director] while exercising the powers vested in a court under the Code of Civil Procedure, 1908 (5 of 1908), when trying a suit in respect of the matters specified in sub-section (1) of section 131.]

By: CA Brijesh Baranwal


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