CBDT Amends Rules Relating to TDS vide Notification No.41/2010; dated 31.05.2010

CBDT Amends Rules Relating to TDS

NEW DELHI, JUNE 02, 2010: THE Central Board of Direct Taxes ( CBDT ) has
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; dated 31.05.2010. The
amended rules will apply only in respect of tax deducted on or after April
1, 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 15 th June), as per the
Press Release issued by the CBDT through the PIB

Sl. No.
Date of ending of the quarter of the financial year
Due date

1.
30 th June
15 th July of the financial year

2.
30 th September
15 th October of the financial year

3.
31 st December
15 th January of the financial year

4.
31 st 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 31 st 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 '