ICAI seeks clarity on crediting TDS to govt account
May, 07th 2009
Accounting regulator ICAI today sought clarifications from the CBDT regarding tax deducted at source, which as per the directions should be credited to the government&aposs account within seven days from the end of a month.
According to a communique by the Central Board of Direct Taxes, TDS, tax deducted or collected at source has to be credited to the government within one week from the end of a month in which the deduction or collection is made.
However, the ICAI said that the new Form No 17, in which the details have to be given, has not been uploaded on the website of the CBDT.
" Only the old challan 281 is available on the website,"the ICAI said in a statement.
Hence, the accounting regulator has asked whether the old form can be used for crediting TDS to the government&aposs account.