TDS CERTIFICATES
This query is : Resolved
TARIQUE RIZVI
(Querist)
27 November 2019
Respected Sirs,
Whether there is a penalty if we dont download tds certificates form traces site ?
Since when such a rule has come into force ?
Please guide me and oblige.
Whether there is a penalty if we dont download tds certificates form traces site ?
Since when such a rule has come into force ?
Please guide me and oblige.
Gokul Sharma
(Expert)
28 November 2019
Penalty for Not Issuing TDS Certificate
If a deductor fails to issue TDS certificate within the specified date, he/she will be levied with a penalty of Rs 100 per day for each certificate. The amount of penalty will not exceed the TDS amount for the quarter.
If a deductor fails to issue TDS certificate within the specified date, he/she will be levied with a penalty of Rs 100 per day for each certificate. The amount of penalty will not exceed the TDS amount for the quarter.
Gokul Sharma
(Expert)
28 November 2019
Downloading of TDS Certificates from TRACES made mandatory: In this regard, your attention is invited to the CBDT circulars 04/2013 dated 17.04.2013, CBDT Circular No. 03/2011 dated 13-5-2011 and CBDT Circular No. 01/2012 dated 9-4-2012 on the Issuance of certificate for Tax Deducted at Source in Form 16/16A as per IT Rules 1962. It is now mandatory for all deductors to issue TDS certificates after generating and downloading the same from “TDS Reconciliation Analysis and Correction Enabling System” or TRACES Portal.
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