Friday, June 4, 2010

DUE DATE TO DEPOSIT TDS AFTER NEW TDS RULES 2010 (FY 2010-11)


on Friday, June 4, 2010

Due date to deposit TDS deducted under various section ,after the new tds rules 2010 is given below. The new rules are simple to understand .The major change is that now tax deducted in the full Month of March is to be deposited by the 30th April of next Financial year.Earlier tax deducted on provision on last day of the Financial year to be deposited by 31st May of next Financial year .But that clause was applicable only for the provisions created on last day of the financial year ,now tax deducted in whole month of March is required to be deposited by 30th April of immediately next Financial Year.Summary of new provisions if given below.
Note:This rules are applicable for Financial Year 2010-11 onwards .


“Time and mode of payment to Government account of tax deducted at source or tax paid under sub­ section (1A) of section 192.  
Rule :30.            
(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the Government shall be paid to the credit of the Central Government ‐ 

  • (a)  on  the  same  day  where  the  tax  is  paid  without  production  of  an  income‐tax challan; and 
  • (b) on or before seven days from the end of the month in which  the deduction is made or income‐tax is due under sub‐section (1A) of section 192, where tax is paid accompanied by an income‐tax challan.   

(2)  All  sums  deducted  in   accordance  with   the   provisions  of   Chapter XVII‐B by deductors other  than  an  office  of  the  Government  shall  be  paid  to  the  credit  of  the  Central Government ‐ 
  • (a)  on or before 30th  day of April where  the  income or  amount  is  credited or paid in the month of March; and 
  • (b)  in any other case, on or before seven days from the end of the month in which‐  
    •    (i)  the deduction is made; or  
    •   (ii)  income‐tax is due under sub‐section (1A) of section 192.

(3)    Notwithstanding  anything  contained  in  sub‐rule  (2),  in  special  cases,  the  Assessing Officer  may,  with  the  prior  approval  of  the  Joint  Commissioner,  permit  quarterly payment  of  the  tax  deducted  under  section  192  or  section  194A  or  section  194D  or section  194H  for  the  quarters  of  the  financial  year  specified  to  in  column  (2)  of  the Table below by the date referred to in column (3) of the said Table:‐

Download Full Notification 41/2010.right click on link and select save target as or save link as as the case may be "
Tags:tds deposit,tds due date deposit,tds new rules,tds rules 2010-11,tds deposit date section 192,section 193,section 194c,section 195,section 194I,section 194J,section 194
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