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December 2011

The CBDT has made the following amendments vide the Income-tax (Eighth Amendment) Rules, 2011 with effect from 1st November 2011

By Pinky Shah, Sonalee Godbole, Chartered Accountants
Reading Time 1 mins
Changes in the due date of filing TDS returns and other amendments — Notification No. 57/2011/F. No.142/23/2011-SO(TPL), dated 24-10-2011.

The CBDT has made the following amendments vide the Income-tax (Eighth Amendment) Rules, 2011 with effect from 1st November 2011:

  •   The due date for filing TDS returns for Government deductees’ has been prescribed as 31st July, 31st October, 31st January and 15th May for the quarters ended 30th June, 30th September, 31st December and 31st March as mentioned in the Table in Rule 31A.

  •    Additional details to be furnished in the TDS returns of the payees who have furnished pre-scribed forms for non-deduction of TDS due to their taxable income being below the maximum prescribed limits.

  •  In cases where income is assessable in the hands of person other than the deductee, credit for TDS on such income would be given to the other person in cases where the deductee furnishes a declaration to that effect and deductor reports such tax deduction in the name of that other person.
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