TIME LIMIT FOR ISSUE OF TDS CERTIFICATE

04 June 2008

what is the time limit for issue of TDS certificate for the Previous Year ended on 31.03.2008 ??

What are the penal provisions if the time limit is not complied with ??

Reply
Follow
Share

3 Replies

Azmathullah Khan (Accounts Manager) (1386 Points)
Replied 04 June 2008

U/s. 193, 194, 195, 196 --- > One week from the expire of two months from the month in which income is so credited

U/s. 192 i.e., Salaries --- > One month from the closer of the financial year in which the deduction was made

in other case ----> One month from the end of the month during which the credit has been given or sum s have been paid

The penalty is Rs. 100/- Per Month U/s.272 & 273B

suman nvss y (article assitant) (147 Points)
Replied 04 June 2008

with in one week from the end of two months in whic tax was deducted thereof

penality is 100 per day till continuing the failure to fill the return. but total penality should not exceeds the original libility iof tds amount.

Azmathullah Khan (Accounts Manager) (1386 Points)
Replied 04 June 2008

Penalty is Rs. 100 Per Month not per day, The penalty should not exceed the original amount for others case but not for TDS Certificate.

Please Clearify.

Start a New Discussion