TDS Certificate

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2011

Sirs,
Can anybody confirm that for the AY 2011-12, a consolidated TDS certificate can be issued if the deductee wants consolidated TDS certificate for 4qtrs of Assessment year 2011-12 instead of issuing one certificate for each quarter ? Please give refernce also.

Ram Avtar Singh

Ram Avtar Singh (Expert)
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12 January 2011 Rule 31 of IT Rule governs the manner and time limit for issue of TDS certificates. There is a proviso to Rule 31(3) which states as follows
Provided also that where more than one certificate is required to be furnished to a payee for deductions of income-tax made during a financial year, the person deducting the tax, may on request from such payee, issue within one month from the close of such financial year a consolidated certificate in Form No. 16A for tax deducted during whole of such financial year.

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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12 January 2011 yes so by looking on the above rules you can issue

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K V Subba Rao

K V Subba Rao (Expert)
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12 January 2011 The Rules have since been amended. Please view Notification No. 41/2010 [F.No. 142/27/2009-SO(TPL)], dated 31-5-2010.

Source: http://www.etaxindia.org/2010/06/income-tax-sixth-amendment-rules-2010.html

Also study Article published in Dec 10 Issue of The Chartered Accountant (ICAI Journal)