CBDT has extended the due date for form 24Q (TDS statement to be filed by the employer) by one month and also extended the due date for issue of form 16 (TDS certificate to pensioners and Salaried employees) also by 25 days.
The original date to file form 24Q for q4 fy 2018-19 was 31st May which has now been extended to 30.06.2019.Further original date to issue the form 16 was 15th June which is now has been extended to the 10 July 2019.
These changes has been done on account of revision of format for form 24q and 16 by CBDT earlier in this year. Further now form 16 has also been required to be issued only after downloading the same from the Tin Nsdl portal. Manual preparation of Form 16 is now not allowed.
This step is good as the employers needs time to understand the new format and to file the same within time but now only 21 days left with employee to file their returns after 10th of July to 31st July ie due date to file the Income tax return.
Now their is every possibility that the due date to file the Income tax return will also be extended by one or two months i,e 31.07.2019 to either 31.08.2019 to 30.09.2019.
SECTION 119 OF THE INCOME-TAX ACT, 1961 - INCOME-TAX AUTHORITIES - INSTRUCTIONS TO SUBORDINATE AUTHORITIES - EXTENSION OF DUE DATE FOR FILING OF TDS STATEMENT FOR LAST QUARTER OF FY 2018-19 FROM MAY 31, 2019 TO JUNE 30, 2019 & DUE DATE FOR ISSUE OF TDS CERTIFICATE IN FORM 16 FROM JUNE 15, 2019 TO JULY 10, 2019
CIRCULAR F.NO. 275/38/2017-IT-(B), DATED 4-6-2019
With a view to redress genuine hardship of deductors in timely filing of TDS statement in Form 24Q on account of revision of its format and consequent updating of the File Validation Utility for its online filing, the Central Board of Direct Taxes, in exercise of its powers under section 119 of the Income-tax Act, 1961, hereby—
- (i) extends the due date of filing of TDS statement in Form 24Q for financial year 2018-19 from 31st of May, 2019 to 30th of June, 2019 and
- (ii) extends the due date for issue of TDS certificate in Form 16 for financial year 2018-19 from 15th of June, 2019 to 10th of July, 2019.