Tds certificate

TDS 325 views 1 replies

Downloading of TDS Certificates from TRACES made mandatory:

Due Date for downloading and Penalty for non-compliance:  Failure to comply with the provisions of the Act will attract penalty under the provisions of section 272A of the Act, a sum of one hundred rupees for every day during which the failure continues.

Can any one explain the practical procedures for above.

Assume party A ->Company(Dedudctor) & Party B firm (Payee for income taxable)

In this case, is company under a statutory obligation to download tds certificate & issue same to party B.What if party B is not available to collect it or party fails to download with in the timelimit.

What is the purpose of this.

Replies (1)

Download should be within due date. Submission to deductee is important but in case you dont have knowledge of whereabouts of deductee, in case required, you need to prove if signed certificate was available with you within due date.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register