Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: VAT RATES :: empanelment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARDS
 
 
From the Courts »
  Vatsala Shenoy vs. JCIT (Supreme Court)
  Vatsala Shenoy vs. JCIT (Supreme Court)
 M.K.Overseas Pvt. Ltd. Vs. Pr.Commissioner Of Income Tax-06
 Arshia Ahmed Qureshi Vs. Pr. Commissioner Of Income Tax-21
 CHAUDHARY SKIN TRADING COMPANY Vs. PR. COMMISSIONER OF INCOME TAX-21
  Sushila Devi vs. CIT (Delhi High Court)
  Vatsala Shenoy vs. JCIT (Supreme Court)
 Deputy Director Of Income Tax Vs. Virage Logic International
 Commissioner Of Income Tax-3 International Taxation Vs. Virage Logic International India
 Pr. Commissioner Of Income Tax-06 Vs. Moderate Leasing And Capital Services Pvt. Ltd.
 ITO vs. Vikram A. Pradhan (ITAT Mumbai)

CBDT Clarification on New TDS/TCS Certificate Format
April, 27th 2007

F.No.142/44/2006-TPL
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
(TPL Division)

---

Room No.147G, North Block
New Delhi, the 25th    April, 2007

To

All DDOs and other Deductors

Subject:  Clarification in connection with Income-tax (Third Amendment) Rules, 2007 - Amendment to Forms used as certificates of deduction of tax at source (TDS) and collection of tax at source (TCS).

Sir,

                Central Board of Direct Taxes have issued a Notification vide S.O. 455 (E) dated 26th March, 2007 prescribing, inter alia, new Form No.16 and Form No.16A.  One of the columns in each of these Forms requires the deductor to quote 'Acknowledgement Nos. in respect of all Quarterly Statements of TDS under sub-section (3) of section 200 as provided by TIN Facilitation Centre or NSDL website'.

2.              Representations have been received from a few quarters pointing out that the deductor will not be able to give the Acknowledgement No. in respect of Quarterly Statements for the fourth quarter as the TDS certificates in the aforementioned Forms are issued by 30 th April whereas Quarterly Statements for the last quarter, i.e. the fourth quarter, are allowed to be furnished on or before 15th of June.  The use of the expression ' as provided by' in the above expression used in the aforementioned two Forms notified vide Notification S.O. 455 (E) dated 26th March, 2007 would only mean that the deductor has been required to quote only an Acknowledgement No. which he has been provided with by the TIN Facilitation Centre or NSDL website.  There may, in fact, be many cases where the deductors may have also furnished their Quarterly Statements for the fourth quarter even before issuing Form No.16 or, as the case may be, Form No.16A for the reason that the Quarterly Statement for the fourth quarter may be furnished on any day beginning 1st April immediately following the last date of the last quarter.   In such cases the deductor will have to mention Acknowledgement Nos. in respect of the last Quarterly Statements also.  The description/expression used in the Form Nos. 16 and 16A has no ambiguity.

3.              However, in any case where the last Quarterly Statement has not been furnished as on the date of issuance of Form No.16 or Form No.16A and Acknowledgement No. is, therefore, not available, the deductor may mention - 'Not Available as the last Quarterly Statement is yet to be furnished'.

Yours faithfully,

 

(D.P. Semwal)
Director (TPL-III)
Telefax: 2309 2234

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions