CBDT on amended TDS Rules- New Changes in TDS Rules
No.402/92/2006-MC (27 of 2010)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
***
New Delhi the 2nd
June 2010
The Central Board of Direct Taxes (CBDT)
have amended the Rules relating to TDS provisions date and mode of payment of
tax deducted at source (TDS), TDS certificate and filing of statement of TDS
(TDS return) vide Notification No.41/2010; SO No.1261(E) dated 31.05.2010 . The
amended rules will apply only in respect of tax deducted on or after 1st
day of April 2010.
Forms for TDS certificate have been revised to include the
receipt number of the TDS
return filed by the deductor. Now the Tax-deduction Account Number (TAN) of the
deductor, Permanent Account Number (PAN) of the deductee, and Receipt number of
TDS return filed by the deductor will form the
unique identification for
allowing tax credit claimed by the taxpayer in his income-tax return.
Government Authorities (Pay and Accounts Officer or Treasury Officer or Cheque
Drawing and Disbursing Officer) responsible for crediting tax deducted at source
to the credit of the Central Government
by book-entry are now
required to electronically file a monthly statement in a new Form No. 24G
containing details of credit of TDS to the agency authorised by the Director
General of Income-tax (Systems).
Due date for furnishing TDS return for the last quarter of the financial year
has been modified to 15th
May (from earlier 15th
June). The revised due dates for furnishing TDS return are
|
Sl. No. |
Date of ending of the quarter of the financial year |
Due date |
|
1. |
30th
June 15th |
July of the financial year |
|
2. |
30th
September |
15th
October of the financial year |
|
3. |
31st
December |
15th
January of the financial year |
|
4. |
31st |
March 15th May of the financial year immediately following the
financial year in which deduction is made |
Due date for furnishing TDS certificate to the employee or deductee or payee is
revised as under
|
Sl. No. |
Category |
Periodicity of furnishing TDS certificate |
Due date |
|
1. |
Salary (Form No.16) |
Annual |
By 31st
day of May of the financial year immediately following the financial
year in which the income was paid and tax deducted |
|
2. |
Non-Salary (Form No.16A) |
Quarterly |
Within fifteen days from the due date for furnishing the statement
of TDS |
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