Tds return

TDS 224 views 7 replies

DINESH

CORPORATE OFFICE MEMBER

37 Points Joined May 2018

Dear Team,

Can you please confirm and clear my below doubts.

1) what is the last date of filing of TDS Return 2017-18.

2) when can form 16 to be issued to employee what is the period stipulated in law or any circular about this.

Thanks

Replies (7)

Jeeva Thangavelu

Student CA Final

609 Points Joined February 2014

Sir,

Due date for filing Quarter 4 TDS returns for the FY 2017-18 is 31st May 2018. Generally Form 16/16A can be generated after 15 days from the date of filing of the return.

Divyanshu

Article

31 Points Joined January 2018

Hi Dinesh, 1. TDS Returns are filed quarterly. For Quarter 4 the last date for filing the return is 31/05/2018. 2. Due date for furnishing Form 16 (Part A & B) is 31/05/2018. Regards.

Ajay

CA Job

512 Points Joined March 2007

Dear Dinesh

1. Assuming you are asking about TDS on salary, the TDS Returns are to be filed quarterly in Form 24Q (for TDS on Salary) and the due for the last quarter (Q4) ending 31st March 2018 is the immediate 31st May 2018 (Refer Rule 31A).

Note that the requriement of submission of Annual TDS return has been dispensed with from 31st March, 2005.

2. a. Form 16 is to be issued by June 15, 2018 for the FY 2017-18 as per Rule 31.

b. IN ADDITION TO Form 16, if the salary paid to any particular employee exceeds Rs.1,50,000, then the employer must issue a statement with particulars of perquisites or profits in lieu of salary in Form No. 12BA (Refer Rule 26A read with Sec.192(2C)).

c. However, the due date for the issue of Form 12BA has not been specified in the Rule 26A. So, a reference can be made to Circular No.29/2017 dated 05.12.2017 (which gives the intructions to the employers regarding TDS on Salary u/s 192), wherein under Para 4.6.4, it is mentioned that Form 12BA needs to be issued by 31st May.

d. It may also be noted that Para 4.6.4 of Circular No.29/2017(supra) inadvertantly mentions the date for issue of TDS Certificate in Form 16 also as 31st May. However, in Para 4.5 it is correctly mentioned as 15th June as prescribed by Rule 31. Morevover, under Para 10 (Miscellaneous), it is stated that in case of any doubt regarding this circular, Act and Rules must be referred to. So the last date for issue of Form 16 remains June 15th.

Regards

Ajay

Divyanshu

Article

31 Points Joined January 2018

If no Perquisites or Profits in lieu of Salary are provided to employees then too the form 12BA has to be provided by Employer?

DINESH

CORPORATE OFFICE MEMBER

37 Points Joined May 2018

Dear Team,

Many Thanks for valuable Reply further Ajay ji can you please share the Circula 29/2017 dated 05/12/2017 it would be graet help.

Thanks.

Ajay

CA Job

512 Points Joined March 2007

Dear Divyansu

Yes, even if the employee has not received any perquisite during the year, the employer must issue Form 12BA to the employee showing the value as NIL, whenever the total salary exceeds Rs.1,50,000.

Regards

Ajay