tds
This query is : Resolved
Praveen Gupta
(Querist)
24 February 2009
We in our company issuing consolidated certificate for the year. Now the provisions made on 31st March we have deposited the tax on 30th May & issued the certifcate on 7th june.
But as per provisions we can issue the certificate only within one month after the end of year .
Pl. let me know the right way.
But as per provisions we can issue the certificate only within one month after the end of year .
Pl. let me know the right way.
Ram Avtar Singh
(Expert)
24 February 2009
The time limit for issuing TDS certificate to payees are given under Rule 31 of I T Rule , read with section 203 of the I T Act. The time limit is as follows:
The general rule is -within one month from the end of moth during which the amount was paid or credited.
However, if the payer maintains accounts of the payee , then within a week after expiry of two months from the date on which such accounts of the payee made or finalised .
In case of salary or insurance commission , within one month from the close of financial year in which such deduction was made.
The general rule is -within one month from the end of moth during which the amount was paid or credited.
However, if the payer maintains accounts of the payee , then within a week after expiry of two months from the date on which such accounts of the payee made or finalised .
In case of salary or insurance commission , within one month from the close of financial year in which such deduction was made.
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