Due date for filing of TDS return under Section 194IA

By | June 3, 2016

CBDT aligns Due date for filing of TDS return  with due date of deposit of TDS under Sec. 194-IA.(deduction of TDS on Payment on transfer of certain immovable property other than agricultural land of Rs 50 Lakh or more)

Also read TDS on Property , Govt revised timeline to Deposit

As per the Following amendment in Rule 31 A (4A), New provision for  every person responsible for deduction of tax under section 194-IA, shall furnish the TDS return within 30 days from the end of the month in which the deduction is made

(4A) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3) or sub-rule (4), every person responsible for deduction of tax under section 194-IA shall furnish to the Director General ofIncome-tax (System) or the person authorised by the Director General of Income-tax (System) a challan-cum-statement in Form No. 26QB electronically in accordance with the procedures, formats and standards specified under sub-rule (5) within seven days Thirty Days from the end of the month in which the deduction is made

INCOME-TAX (THIRTEENTH AMENDMENT) RULES, 2016 – AMENDMENT IN RULE 31A

NOTIFICATION NO. SO 1923(E) [NO.39/2016 (F.NO.142/29/2015-TPL], DATED 31-5-2016

In exercise of the powers conferred by section 200, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. (1) These rules may be called the Income-tax (13th Amendment) Rules, 2016.

(2) They shall come into force from the 1st day of June, 2016.

2. In the Income-tax Rules, 1962, in rule 29B, in rule 31A, in sub-rule (4A), for the words “seven days”, the words “thirty days” shall be substituted;

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