Major amendments in TDS/TCS Compliances

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Dear Friends This is to inform that major amendments have been made in the system of payment, deposit, filing and issuing TDS/TCS certificates w.e.f. 1st April 2009. These include: Â· TDS/TCS shall be deposited mandatorily by electronic mode only. Â· Quarterly deposit of TDS is allowed in few cases with prior approval of Jt. Commissioner. Â· Form 16 and 16A amended. Form 16AA abolished. Â· New TDS/TCS challan â€“ Form No. 17 Â· Duplicate issuance of TDS/TCS certificate allowed on request of the deductee. A.O. to give credit on duplicate certificate on filing of affidavit and confirmation by concerned A.O. Â· Form 24C â€“ TDS Compliance Statement introduced. To be filed by all assesses who have been allotted TAN. It is to be filed quarterly even if no tax is deducted. Â· TDS/TCS quarterly statement to be filed even if no tax deducted. Now even nil return is to be filed. #pdf

Submitted By:

Milan Somani

on 01 April 2009

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