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This query is : Resolved

Praveen Gupta (Querist)
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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.

Ram Avtar Singh

Ram Avtar Singh (Expert)
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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.

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