Time Limit for Issuance of TDS Certifacte u/s 203

TDS 4236 views 2 replies

Gaurav Jindal

Manager

23 Points Joined May 2008

Dear All,

I am having a confusion on the Time Limit for Issuance of TDS Certifcate.

Section 203 read with 2nd Proviso to rule 31 (3) says that in case of TDS u/s 192 and 194 D time limit for issuance of TDS Certificate is one month from the end of the financial year in which such TDS was made.

Section 203 read with Rule 31 (3) says that in any other case time limit for the issuance of TDS Certificate is one month from the end of the month in which such TDS was made. 1st Proviso to Rule 31(3) further says that in case of credit is given to an account ,then the time limit is within 1 week after the expiry of two months from the month in which such credit is made.Furher 4th Proviso of Rule 31(3) says that person deducting tds on request of the payee to issue a consolidated Form 16A with one month from the close of such Financial Year.

Normally every deductor of TDS is issuing only one consolidated Form 16A and not the individual TDS Certificates as is required by Rule31(3). Consolidated Form 16A is only a faciltity given to the deductee not the deductor.

Doesn't that amount to default u/s203??

Regards

Gaurav

Replies (2)

Late CA Sampat Jain

Chartered Accountant

4772 Points Joined March 2007

You are right , strictly speaking there is default u/s 203.

If penalty is initiated the deductor will have to take shelter under the proviso:

^"[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.] "

Now whether he can take or not , depends on facts of the case

guru

chartered accountant

61 Points Joined May 2008

Originally posted by :CA Sampat Jain
		"

yes. this problem is practically appearing in my case where the client has issued consolidated tds certificate and party is asking for monthly certificates.

also, i want to know whether provisional ackn number is manadatory on tds certificate?