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’ |
Related posts:
- Press Release | New TDS/TCS Rules Applicable w.e.f. 1-7-2009 Instead of 1-4-2009
- Income-tax (Sixth Amendment) Rules, 2010 – TDS Rules Amended for A.Y. 2011-12
- Form 17, UTN, Form 24C applicability hold on till Next Press Release
- Rules Regarding Issue of TDS Certificate
- Last Date Extended to 15.10.2010 for File Income Tax Return in Audit Case
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{ 12 comments… read them below or add one }
timely updates through mail system by e.tax is quite appreciable( being helpful)
thanks
JSL Limited
Hisar
Hi,
What is the due date for deposit TDS for Q-4? And if we depositing TDS after due date then the Exp. would be disallow or What?
In 40a mentioned that last month of the Financial Year’s TDS, if it is deposited till return filing then it would be not disallow. Return means TDS return of Annual Return?
Thanks & Warmed Regards,
Varsha Patel
Dear Sir,
Please send me Income Tax and TDS Calculators.
Thanking you
Omprakash Dalwani
What is the last date for submitting of March 1.30 TDS amounts, & March 31 TDS amounts
THANKS
V USEFUL
TDS on int to be deposited by 31st May then how can we submit return on 15th of may
Sir/Madam
Company/Organisation can’t calculate and, or reconcile parties statement, whether we will duducted TDS agst. this/that bill agst. this party or not.Taking decision for deducting TDS with in 15 days (from April 1 to May 15) is very difficult task.
Thanks
Asutosh Guru
in 2010-11 FY, can I file my tds return myself online. What are the forms to be upload by me
Really very helpfull through the e-mails.
if i m not issuing the tds certificate for 1st quqrter of F.Y. 2010-10 upto the date. threre is any penalty on company
already we paid first quarter tds in old society panno , but now we divided and formed another society and got pan no , so if we use new pan no then is there any effect in transaction?