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June 2009

Press Release No. 402/92/2009 — MC (11 of 2009), dated 11.5.2009

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Nimesh Dedhia, Vijay Kewalramani
Chartered Accountants
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  1. Press Release No. 402/92/2009 — MC (11 of 2009), dated
    11.5.2009

The Central Board of Direct Taxes have decided to defer the
implementation of Notification No.31/2009, dated 25-3-2009 amending or
substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962. The
amended/substituted Rules will now come into effect on 1st July 2009 instead
of 1st April 2009. Tax deductors/collectors may continue to deposit TDS/TCS
tax and file TDS/TCS returns as per the pre-amended provisions in the interim
period. This however is only for records due to the Circular issued later
which is outlined below.

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