NOTIFICATION
No. 31/2009, Dated: March 25, 2009
AMENDMENTS IN T.D.S. AND T.C.S. COMPLIANCES
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes has made certain amendments in the Income-tax Rules, 1962, vide Income-tax (8th Amendment) Rules, 2009 with effect from 1st April, 2009.
· Rule 30 substituted relating to Time and Mode of payment of TDS
· Rule 31 substituted relating to Certificate of TDS
· Rule 31A and Rule 31AA substituted relating to Quarterly Statement of TDS and TCS.
· Rule 37A omitted relating to returns regarding TDS in the case of non-residents.
· Rule 37CA substituted relating to Time and Mode of payment of TCS
· Rule 37D substituted relating to Certificate of TCS
· Form No. 16 Certificate of TDS from Salary substituted.
· Form No. 16A Certificate of TDS / TCS substituted.
· Form No. 16AA Certificate of TDS from Salary cum Return of Income omitted.
· Form No. 17 Challan for payment of TDS / TCS introduced.
· Form No. 24C TDS and TCS Compliance Statement introduced.
The Main Changes are as follows :-
· Payment of TDS / TCS electronically by all the persons liable to deduct and pay.
· Challan Form No. 17 introduced for payment of TDS / TCS.
· Issue of Duplicate Certificate of TDS / TCS in Form 16 and Form 16A allowed.
· Submission of Statements to be done electronically.
· Quarterly TDS Compliance Statement in Form No. 24C added.
· Form No. 24C to be delivered before 15th July, 15th October and 15th January for the first three quarters of the financial year respectively and before 15th June for the last quarter of the financial year.
· Quarterly TDS Statements in Form No. 24Q, Form No. 26Q, Form No. 27Q and Form No. 27EQ now made Annually..
· Form No. 24Q, Form No. 26Q, Form No. 27Q and Form No. 27EQ to be delivered before 15th June following the financial year.
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