Practising Chartered
974 Points
Joined June 2015
Hi jayanta,
There has been specified time limit for the deductor to issue TDS/TCS certificatewhich is applicable after 01/04/2010. The limit is mentioned as below :
FORm 16 : Annually, on or before 31 mayimmediately following the FY in which tax is deducted.
Form 16 A: For quarter June 30==July 30 of the FY
For Quarter Sep 30==Oct 30 of The FY
For Quarter Dec 31==Jan 30 of The FY
For Quarter Mar 31==May 30 after the end of FY
However if the respective compliances are not made within the due date specified in the relevant section penalty would be leviable u/s 272A for a sum of Rs.100 per day for which the failure continues.