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February 2009

TDS time limit under Rule 37A revised — Income-tax (Fourth Amendment) Rules, 2009 dated 21-1-2009.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Chartered Accountants
Reading Time 1 mins
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Part A : DIRECT TAXES


30 TDS time limit under Rule 37A revised —
Income-tax (Fourth Amendment) Rules, 2009 dated 21-1-2009.

The CBDT has amended Rule 37A pertaining to TDS returns for
non-residents. The TDS return, in case of tax deducted at source from payments
to non-residents, shall now be furnished on or before the 15th July, the 15th
October, the 15th January in respect of the first three quarters of the
financial year, and, on or before the 15th June, for the last quarter of the
financial year instead of the existing time-limit of fourteen days from the end
of each quarter.

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