Form 16 A - Reg

AS per Rule 31(3) , Tds certificate should, generally be issued within one month from the end of the month in which the sum is credited or paid.

Where TDS on interest other than interest on securities is requied to be deposited quarterly, Tds certificates may be issued within 14 days from the date of deposit of tax ( Rule 31(3) Third Proviso)

However, TDS certificate for salary i.e form 16 may be issued within 1 month from the end of financial year in which the tax is deducted or paid by the employer on behalf of the employee .( Rule 31(3) Second Proviso)

Where Tax has been deducted on the last date of the accounting year i.e 31st March, of the person making the payment u/s 194 C/ 194 J/ 194 A/ 194 I / etc then TDS ceftificate may be issued within a period of 2 months and one week from the month in which the tax is so deducted. ( Rule 31(3) First Proviso)

Consolidate TDS Certificates

Where more than one TDS certificate is required to be issued to a payee during the financial year , the person deducting the Tax, may on request from the such payee, issue within 1 month from the close of the year, a consolidated Tds certificate in Form no 16 A for that year .(  Rule 31(3) Fourth Proviso)

[Certificate of tax deducted at source ⁴³[or tax paid under sub-section (1A) of section 192].

31. ⁴⁴[(1) The certificate of deduction of tax at source ⁴⁵[or, the certificate of payment of tax by the employer on behalf of the employee,] under section 203 to be furnished by any person deducting tax in accordance with the provisions of

(a) section 192 shall be in Form No. 16 ^46:

⁴⁷[Provided that in the case of an individual, resident in India, where his income from salaries before allowing deductions under section 16 of the Income-tax Act, 1961 does not exceed rupees one lakh fifty thousand, the certificate of deduction of tax at source shall be in Form No. 16AA;]

⁴⁸[(b) section 193, section 194, section 194A, section 194B, section 194BB, section 194C, section 194D, section 194E, section 194EE, section 194F, section 194G, ⁴⁹[section 194-I,] ⁵⁰[section 194J, section 194K,] ⁵¹[section 194LA,] section 195, section 196A, section 196B, section 196C and section 196D shall be in Form No. 16A.]]

(2) ⁵²[* * *]

(3) The certificate mentioned in sub-rule (1) shall be furnished within a period of ⁵³[one month from the end of the month during which the credit has been given or the sums have been paid or, as the case may be, a cheque or warrant for payment of any dividend has been issued to a shareholder]:

Provided that ⁵⁴[where the income by way of interest on securities referred to in section 193 or the income by way of interest referred to in section 194A or the sum referred to in section 194C or the income by way of insurance commission referred to in section 194D or the payment to non-resident sportsmen or sports associations referred to in section 194E ⁵⁵[or the income by way of commission, remuneration or prize on sale of lottery tickets referred to in section 194G or the income by way of commission or brokerage referred to in section 194H ⁵⁶[or the income by way of rent referred to in section 194-I] ⁵⁷[or the income by way of fees for professional or technical services referred to in section 194J] or the interest or any other sum referred to in section 195 or the income of a foreign company referred to in sub-section (2) of section 196A] or the income from units referred to in section 196B] ⁵⁸[or the income from foreign currency bonds or shares of an Indian company referred to in section 196C] ⁵⁹[or the income of Foreign Institutional Investors from securities referred to in section 196D] is credited by a person ⁶⁰[to the account of the payee as on the date up to which the account of such person] are made, the certificate under sub-rule (1) shall be issued within a week after the expiry of two months from the month in which income is so credited:

Provided further ⁶¹[that the certificate in the case of deduction of tax under sub-section (1) of section 192 or, payment of tax by the employer on behalf of the employee, under sub-section (1A) of that section] ⁶²[or section 194D] may be furnished within one month from the close of the financial year in which such deduction was made:

⁶³[Provided also that the certificate in cases, other than those mentioned in the second proviso, where payment of income-tax deducted is permitted quarterly in accordance with clause (a) of the proviso to clause (b) of sub-rule (1) of rule 30 may be furnished within fourteen days from the date of payment of income-tax:]

⁶⁴[Provided also that where more than one certificate is required to be furnished to a payee for deductions of income-tax made during a financial year, the person deducting the tax, may on request from such payee, issue within one month from the close of such financial year a consolidated certificate in Form No. 16A for tax deducted during whole of such financial year.]

(4) Where in a case, the TDS certificate issued under this rule is lost, the person deducting tax at source may issue a duplicate certificate of deduction of tax at source on a plain paper giving necessary details as contained in Form No. 16 ⁶⁵[or Form No. 16A ⁶⁶[* * *], as the case may be].

(5) The Assessing Officer before giving credit for the tax deducted at source on the basis of duplicate certificate referred to in sub-rule (4), shall get the payment certified from the ⁶⁷[Assessing Officer] designated in this behalf by the Chief Commissioner or the Commissioner and shall also obtain an Indemnity Bond from the assessee.]

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