What if form 16a not issued before due date

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Ramesh (Querist)

02 November 2011 Dear Sir,
Please let me know what are the consequences if Form 16A not issued before due date.
Rgds,
Ramesh

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

02 November 2011 Penalty of Rs 100 per day or the period of delay can
be levied.

TDS certificate should be issued within 1 month from the end of the month, in which tax has been deducted. However on receiving a written request before the first deduction, from the deductee, Annual TDS Certificate can also be issued.

Ramesh

Ramesh (Querist)

02 November 2011 Thanks Sir for your reply. But now as per my knowledge, the time limit is as follows:

Due date ETDS return 24Q, 26Q 27Q and Form16 ,Form 16A
Sl. No. Quarter ending From 01.11.2011 onwards Up to 30.10.11
Etds return Form 16A Etds return Form 16A
1 30th June 31st July 15th August 15th July 30th July
2 30th September 31st October 15th November 15th October 30th October
3 31st December 31st January 15th February 15th January 30th January
4 31st March 15th May 30th May (31st May for form 16) 15th May 30th May (31st May for form 16)

So there is no option now to issue Annual Certificate. We have to issue quarterly certificate.

Please confirm.
With warm regards,
Ramesh

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

02 November 2011 I could not understand the format properly.

Certificate can be issued only after depositing the e-TDS return.

Suppose you have deposited TDS Return on 02-11-2011, you may issue TDS Certificate till 31.12.2011.

Generally penalty is levied when deductee complains to the IT Department.

Ramesh

Ramesh (Querist)

02 November 2011 Thanks Sir. Sorry for the format. I got your point, Sir. This is as per notification 57/2011 dated 24.10.2011.

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