TDS Certificate

Not Comulsory

NO its not compulsory to issue Quarterly TDS certificate

1. 16 Annual By 31st day of May of the financial year immediately following the

financial year in which the income was paid and tax deducted

2. 16A - Quarterly  - Within fifteen days from the due date for furnishing the statement

of tax deducted at source under rule 31A.

not compulsary but tds certifacte give the details of each date wise payments

Form 16A should be given for every  quarter& Form 16  for whole year from 01.04.2010 onwards

it is one of the recent amendments in TDS rulings.

I will give the full details shortly in this regard.

If am wrong correct me anyone.

Originally posted by : RAMA KRISHNA
	Form 16A should be given for every  quarter& Form 16  for whole year from 01.04.2010 onwards it is one of the recent amendments in TDS rulings. I will give the full details shortly in this regard. If am wrong correct me anyone.

  You r right Dear...

not compulsary

The Central Board of Direct Taxes (*CBDT*) have amended the Rules relating
to TDS provisions date and mode of payment of tax deducted at source (TDS),
TDS certificate and filing of ‘statement of TDS’ (TDS return) vide
Notification No. 41/2010; SO No. 1261(E) dated 31.05.2010. The amended rules
will apply only in respect of tax deducted on or after 1st day of April
2010.The main changes are listed out below.
 

This rules are applicable only for the TDS deducted on or after 01.04.2010
means applicable for Financial year 2010-11 assessment year 2011-12.
 

Last date to file quarterly etds return( form 24Q,form 26Q) has been changed
to 15 May of succeeding year.Presently it is 15 June.
 

Form 16,Form 16A required to be issued for Financial year 2010-11 has also
been changed.
 

Due date to make TDS payment and mode of TDS payments has also been
changed(details awaited)
 

UTN has been introduced again in modified version ,now TAN of deductor ,PAN
of deductee and PRN (receipt number) of ETDS return form a UTN for
verification of tax credit.
 

Form 16A(non salary tds) is now required to be issued quarterly within 15
days from due date to file etds statements.
 

Form 16 (tds from salary) is now required to be issued by 31st May of the
financial year immediately following the financial year in which the income
was paid and tax deducted.
 

*New Changes in TDS Rules***
 

*CBDT Press Release No. 402/92/2006-MC (27 of 2010), dated 2-6-2010*
 

The Central Board of Direct Taxes (*CBDT*) have amended the Rules relating
to TDS provisions date and mode of payment of tax deducted at source (TDS),
TDS certificate and filing of ‘statement of TDS’ (TDS return) vide
Notification No. 41/2010; SO No. 1261(E) dated 31.05.2010. The amended rules
will apply only in respect of tax deducted on or after 1st day of April
2010.
 

Forms for TDS certificate have been revised to include the *receipt number* of
the TDS return filed by the deductor. Now the Tax-deduction Account Number
(TAN) of the deductor, Permanent Account Number (PAN) of the deductee, and
Receipt number of TDS return filed by the deductor will form the *unique
identification* for allowing tax credit claimed by the taxpayer in his
income-tax return.
 

Government Authorities (Pay and Accounts Officer or Treasury Officer or
Cheque Drawing and Disbursing Officer) responsible for crediting tax
deducted at source to the credit of the Central Government *by book-entry* are
now required to electronically file a monthly statement in a new Form No.
24G containing details of credit of TDS to the agency authorised by the
Director General of Income-tax (Systems).
 

Due date for furnishing TDS return for the last quarter of the financial
year has been modified to 15th May (from earlier 15th June). The revised due
dates for furnishing TDS return are
 

*Sl. No.*
 

*Date of ending of the quarter of the financial year*
 

*Due date*
 

1.
 

30th June
 

15th July of the financial year
 

2.
 

30th September
 

15th October of the financial year
 

3.
 

31st December
 

15th January of the financial year
 

4.
 

31st March
 

15th May of the financial year immediately following the financial year in
which deduction is made
 

Due date for furnishing TDS certificate to the employee or deductee or payee
is revised as under :
 

*Sl. No.*
 

*Category*
 

*Periodicity of furnishing TDS certificate*
 

*Due date*
 

1.
 

Salary       (Form No.16)
 

Annual
 

By 31st day of May of the financial year immediately following the financial
year in which the income was paid and tax deducted
 

2.
 

Non-Salary
 

(Form No.16A)
 

Quarterly
 

Within fifteen days from the due date for furnishing the ‘statement of TDS’