Form 16 should be issued within 1 month from the end of the relevant financial year as per section 203. But I have deposited TDS on salary in the month of May 09 for march 09 salary (as I have passed salary payable entry on 31.03.2009 so I can deposit it on or before 31st may 09). Now I have to issue form 16 on or before 30th april 2009 in that certificate I have to mention the challan detail, My question is Can I give the challan detail (of may) on form 16 dated 30th april 09 ? if not then when can I issue it without contradicting the IT provisions ?
05 June 2009
Sorry to say, the due date for payment for march salary is 07-April & not 31st may. 31St may is due date for tds other than tds on salary for the provision made on 31st march.
As per above you need to pay the tds by 07-April. Now as you have paid the tds in may-09, that means you can only issue form 16 after the date of tds payment.
05 June 2009
dear Mr Chetan Is there any penal provision for not issuing Salry TDSCertificate on time?. now i have to also pay interest on late payment of TDS pls clearify it.
thanks for your quick reply, openion from other members also welcome.
CAclubindia
