09 March 2016
REGISTRATION AND OBTAINING TAX DEDUCTION ACCOUNT NUMBER (TAN)
Every person responsible for making deduction of tax under section 36A shall apply for Tax Deduction Account Number (T.A.N) 2[within seven days] from the date on which the tax was deducted or deductible in Form DVAT-44 and a Tax Deduction Account Number shall be issued in Form DVAT-45.
DEDUCTION & PAYMENT OF TAX
Applicable if contract value exceeds Rs.20000/-
TDS Rate 4% for registered contractors 6% for unregistered contractors Due date for deposit of TDS: 15th of next month Mode of payment - e-payment is mandatory Certificate of Deduction of tax - DVAT 43 to be given to the deductee by 15th of next month RETURN
Return in Form DVAT 48 to be submitted on quarterly basis Due date: 28 days from the end of the quarter PENALTIES
Non Deduction or Non-payment - A sum not exceeding twice the amount so deductible or payable Simple interest from the date applicable to the actual date of compliance - 16% per annum Delay in furnishing TDS certificates - Rs.200/- per day RELEVANT FORMS
DVAT 43 - Certificate of Deduction of Tax At Source Delhi Value Added Tax Act, 2004 DVAT 48 - Form of Quarterly Return by the Contractee
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