TDS Certificate

This query is : Resolved

shoeb parwaiz (Querist)
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14 May 2011 Dear All,

Is this mandatory to issue TDS Certificate on Quarterly Basis from the F.Y.2010-2011.
Also,if TDS Certificate isn't issued on Quarterly Basis, Can it be issued Yearly like past.

Thanks & Regards

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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14 May 2011 There is no need to issue TDS certificates on quarterly basis. You can issue it on yearly basis. Under the new provisions, the TDS certificate does not have much relevance, but still it is better you issue it for the information of the deductee.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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14 May 2011 As per new amendments due dates of issue of TDS certificates----

Salary (Form No.16)- By 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted

Non-Salary(Form No.16A)-Within fifteen days from the due date for furnishing the ‘statement of TDS’

So you are advised to issue TDS certificates on quarterly basis even if you are issuing it today....Raise the certificate on back date.

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