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
CAclubindia
