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Rules 30, 31, 31A, 31AA, 37CA and 37D have been substituted,
which provide for time and mode of payment of TDS/TCS to the Government account,
issue of certificate of TDS/TCS and filing of quarterly statements thereof. The
said rules shall apply in respect of tax deducted/collected on or after 1st
April, 2010. The major amendments include :
Revised forms of TDS
certificates to include the receipt number of TDS return filed by the tax
deductor, which along with the PAN of the deductee and the TAN of the deductor
would form the unique identification, based on which credit for TDS would be
available.
Even the Government
authorities are now required to furnish a monthly return electronically in new
Form 24G.
The due date of filing
the TDS return for the last quarter of the financial year has been pre-poned
from 15th June to 15th May and the due dates for furnishing the TDS
certificates have also been modified to 15th May for Form 16 to be furnished
annually and fifteen days from the date of submitting TDS certificates for
other non-salary TDS certificates to be issued quarterly.
