Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« From the Courts »
Open DEMAT Account in 24 hrs
 Inordinate delay in income tax appeal hearings
 Income Tax leviable on Tuition Fee in the Year of Rendering of Services: ITAT
 Supreme Court invoked its power under Article 142 of Constitution to validate notices issued under section 148 as notices issued under section 148A. However the same shall be subject to amended provisions of section 149.
 ITAT refuses to stay tax demand on former owner of Raw Pressery brand
 Bombay HC sets aside rejection of refund claims by GST authorities
 [Income Tax Act] Faceless Assessment Scheme does not take away right to personal hearing: Delhi High Court
 Rajasthan High Court directs GST Authority to Unblock Input Tax Credit availed in Electronic Credit Ledger
 Sebi-taxman fight over service tax dues reaches Supreme Court
 Delhi High Court Seeks Status Report from Centre for Appointments of Chairperson & Members in Adjudicating Authority Under PMLA
 Delhi High Court allows Income Tax Exemption to Charitable Society running Printing Press and uses Profit so generated for Charitable Purposes
 ITAT accepts Lease Income as Business Income as Business Investments were mostly in nature of Properties

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 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting