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:
· TDS/TCS shall be deposited mandatorily by electronic mode only.
· Quarterly deposit of TDS is allowed in few cases with prior approval of Jt. Commissioner.
· Form 16 and 16A amended. Form 16AA abolished.
· New TDS/TCS challan – Form No. 17
· 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.
· Form 24C – 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.
· TDS/TCS quarterly statement to be filed even if no tax deducted. Now even nil return is to be filed. #pdf
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