TDS Due Dates changed w.e.f. 01-November-2011

CBDT has amended e-tds/e-tcs return submission dates w.e.f. 01-11-2011 vide Notification No. 57 issued on  dated  24th October, 2011.  Earlier there was no change for submission of e-tds/e-tcs return for Government Deductors or Non-Government Deductors.  Keeping in view the filing of Form No. 24G regarding data of Government Deductors, due dates for submission of e-tds/e-tcs returns for Government Dedcutors have been changed/increased. 

           Secondly, It is more important that now all  data including Non-TDS deducted will be uploaded as mandatory in view of furnishing of declaration under section 197A(complete section detailed given below). In the simple words, now the Form 15G and 15H received by Dedcutors will be reported in e-tds/e-tcs returns as mandatory, earlier It was not mandatory. 

           .  Thirdly, Enlarging the scope of grant of TDS credit to person other than the dedcutee. 



[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,
SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification
New Delhi, the 24th October, 2011
INCOME-TAX

S.O. 2429 (E).‐ In exercise of the powers conferred by 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 (Eighth Amendment) Rules, 2011.
    (2) They shall come into force on the 1st day of November, 2011.

2. In the Income-tax Rules, 1962, –

   (A) in rule 31A –
        (a) for sub-rule (2), the following sub-rule shall be substituted, namely:-

           “(2) Statements referred to in sub-rule (1) for the quarter of the financial year ending with the date specified in column (2) of the Table below shall be furnished by –

                 (i) the due date specified in the corresponding entry in column (3) of the said Table,if the deductor is an office of Government; and

               (ii) the due date specified in the corresponding entry in column (4) of the said Table, if the deductor is a person other than the person referred to in clause (i).

     (b) in sub-rule (4), after clause (vi),the following clause shall be inserted, namely:-

         “(vii) furnish particulars of amount paid or credited on which tax was not deducted in view of the furnishing of declaration under sub-section (1) or sub-section (1A) or sub-section (IC) of section 197A by the payee.”

    (B) in rule 37BA, in sub-rule (2), for clause (i), the following clause shall be substituted, namely:-

  • “(i) where under any provisions of the Act, the whole or any part of the income on which  tax has been deducted at source is assessable in the hands of a person other than the  deductee, credit for the whole or any part of the tax deducted at source, as the case may be, shall be given to the other person and not to the deductee:

    Provided that the deductee files a declaration with the deductor and the deductor reports the tax deduction in the name of the other person in the information relating to deduction of tax referred to in sub-rule (1).”
[Notification No. 57 /2011/F. No.142/23/2011-SO(TPL)]


(RAJESH KUMAR BHOOT,)
Director (Tax Policy and Legislation)

Note:- The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), vide number S.O. 969(E), dated the 26th March, 1962 and last amended by the Income-tax (7th Amendment) Rules, 2011 vide number S.O.2394(E), dated the 17th October, 2011

Section 197A in Detail

29[No deduction to be made in certain cases.
30197A. 31(1) Notwithstanding anything contained in 32[***] section 194 33[***] 34[or section 194EE], no deduction of tax shall be made under any of the said sections in the case of an individual, who is resident in India, if such individual furnishes to the person responsible for paying any income of the nature referred to in 35[***] section 194 36[37[***] or, as the case may be, section 194EE], a declaration in writing in duplicate in the prescribed form and verified in the prescribed manner to the effect that 38[the tax on his estimated total income of the previous year in which such income is to be included in computing his total income will be nil.]
39[(1A) Notwithstanding anything contained in 40[section 193 or] section 194A or section 194K, no deduction of tax shall be made under 41[any] of the said sections in the case of a person (not being a company or a firm), if such person furnishes to the person responsible for paying any income of the nature referred to in 40[section 193 or] section 194A or section 194K, as the case may be, a declaration in writing in duplicate in the prescribed form and verified in the prescribed manner to the effect that the tax on his estimated total income of the previous year in which such income is to be included in computing his total income will be nil.]
42[(1B) The provisions of this section shall not apply where the amount of any income of the nature referred to in sub-section (1) or sub-section (1A), as the case may be, or the aggregate of the amounts of such incomes credited or paid or likely to be credited or paid during the previous year in which such income is to be included exceeds the maximum amount which is not chargeable to income-tax.]
43[(1C) Notwithstanding anything contained in section 193 or section 194 or section 194A or section 194EE or section 194K or sub-section (1B) of this section, no deduction of tax shall be made in the case of an individual resident in India, who is of the age of sixty-five years or more at any time during the previous year 44[***], if such individual furnishes to the person responsible for paying any income of the nature referred to in section 193 or section 194 or section 194A or section 194EE or section 194K, as the case may be, a declaration in writing in duplicate in the prescribed form45 and verified in the prescribed manner to the effect that the tax on his estimated total income of the previous year in which such income is to be included in computing his total income will be nil.]
46[(1D) Notwithstanding anything contained in this section, no deduction of tax shall be made by the Offshore Banking Unit from the interest paid—
             (a)   on deposit made on or after the 1st day of April, 2005, by a non-resident or a person not ordinarily resident in India; or
             (b)   on borrowing, on or after the 1st day of April, 2005, from a non-resident or a person not ordinarily resident in India.
Explanation.—For the purposes of this sub-section “Offshore Banking Unit” shall have the same meaning as assigned to it in clause (u) of section 2 of the Special Economic Zones Act, 200547.]
48[(1E) Notwithstanding anything contained in this Chapter, no deduction of tax shall be made from any payment to any person for, or on behalf of, the New Pension System Trust referred to in clause (44) of section 10.]
(2) The person responsible for paying any income of the nature referred to in sub-section (1) 49[or sub-section (1A)] 50[or sub-section (1C)] shall deliver or cause to be delivered to the 51[Chief Commissioner or Commissioner] one copy of the declaration referred to in sub-section (1) 52[or sub-section (1A)] 53[or sub-section (1C)] on or before the seventh day of the month next following the month in which the declaration is furnished to him.]

Data of Form 15G  and  Form H relates to Section 197A

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