Issue of TDS Certificates
After deduction TDS of some one. we have a duty to issue TDS certificate to that person so that he will get refund of that TDS. So Income Tax Act provide some rules for the issuance of TDS Certificate that are as follows.
AS per Rule 31(3) , Tds certificate should, generally be issued within one month from the end of the month in which the sum is credited or paid.
Where TDS on interest other than interest on securities is required to be deposited quarterly, Tds cerficates may be issued within 14 days from the date of deposit of tax ( Rule 31(3) Third Proviso)
However, TDS certificate for salary i.e. form 16 may be issued within 1 month from the end of financial year in which the tax is deducted or paid by the employer on behalf of the employee .( Rule 31(3) Second Proviso)
Where Tax has been deducted on the last date of the accounting year i.e. 31st March, of the person making the payment u/s 194 C/ 194 J/ 194 A/ 194 I / etc then TDS certificate may be issued within a period of 2 months and one week from the month in which the tax is so deducted. ( Rule 31(3) First Proviso)
Consolidate TDS Certificates
Where more than one TDS certificate is required to be issued to a payee during the financial year , the person deducting the Tax, may on request from the such payee, issue within 1 month from the close of the year, a consolidated Tds certificate in Form no 16 A for that year .( Rule 31(3) Fourth Provisio)
Note : Where a consolidated Tds certificate is to be issued for the year, then the tax shall have to be deposited before issued of such certificate.
Related posts:
- Income-tax (Sixth Amendment) Rules, 2010 – TDS Rules Amended for A.Y. 2011-12
- National Saving Certificate (NSC) VIII Issue accrued Interest Table
- Download Form 16 | Form 16A | TDS Certificate in Excel Format
- National Savings Certificates (NSC) VIII Issue
- New Changes in TDS Rules – CBDT Press Release Dt.2-6-2010
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{ 10 comments… read them below or add one }
I was working in PSU of central government corporation. My tax was deducted by the corpn but till date I have not received my form 16 for the financial year 2006-07 and 2007-08 after sending various letters. Please advice my how to get my form 16 from the company. To enable me to file a return and also claim a refund for the said period.
Please advice at the earliest
with regards
shrikant
I have a couple of queries regarding form 16A for TDS. kindly respond. my queries are:
In the said form 16A under the heading
DETAILS OF PAYMENT , TAX DEDUCTION AND DEPOSIT OF TAX INTO CENTRAL GOVERNMENT ACCOUNT
the second column sub heading is “Amount paid/ Credited” and the third being “Date of Payment/ Credit”.
My 1st query is:
“DOES THE AMOUNT TO BE STATED IN THE SECOND COLUMN SUB HEADING REPRESENT THE NET PAYMENT AMOUNT AFTER SERVICE TAX AND TDS ADJUSTMENTS BOTH, OR ANY ONE OF THEM OR NEITHER OF THEM?”
My 2nd query is:
“WHAT ARE THE CONSEQUENSES OF ERRONEOUS FILLING UP OF THESE TWO ABOVE MENTIONED COLUMN SUB HEADINGS.?”
An early response is hoped for. Kindly obliged by doing that.
This helped me to clear my conceot on issue date of tds certificates. Bt it is stiil a question that if the tds on interest other than securities is deposited after the due date, i.e in case of any late challan deposite , what should be the issue date of tds certificate. Please answer .
i want to ask is tds to be cut on brokerage of commodity exchanges i.e ncdex and mcx
Dear Sir,
I got a certificate of TDS form no.16A from my customer at India (my company is a foreign in Thailand), the information of certificate make guarantee tax has been deducted at source and paid the credit of the Central Government.
By the way, I just want to know if we use for Tax Treaties and Legal purpose (Non-Resident Withholding Tax Certificate) The Payer must process to request a certificate from Central Government or Revenue Department or not? Please kindly advice?
Thank you very much and hope to hear from you soon.
Patcharin B.
I have received the compensation for my land and building which was acquired by National Highways Authority of India. TDS @ 10.3% was deducted against the amount. inspite of my repeated requests, they did not issue the Certificate. what can I do?
Kindly note that while issuing TDS Certificates by Banks its in a incomplete stage viz., details of PAN no.,Details in Interest Deduction & TDS applied,F/o signing authority not mentioned. They have simply mentioned Gross interest earning for the year & TDS applicable in single line. Is it OK. Will this be accepted.
Pls Make me clear diffeence between Form 16 and 16 A in simple language and in a very simple way because I am totally confused after reading the whole page about both the forms.
Pls Do it for my conveyance.
Dear Sir,
please clear whether we rectify the PAN number in form No.16., since it has been wrongly mentioned in the form.
I Have a query about issue of tds certificate Monthly, quarterly, or Annually