Monday, October 31, 2011

DUE DATE QUARTERLY E-TDS RETURNS CHANGED


By on 8:08 AM

Income Tax department has changed the date for filing of quarterly E TDS return vide notification 57/2011 dated 24.10.2011.In this notification due date to filing etds returns has been extended by 15 days for first three quarters of the Financial year but remains the same for last quarter ending 31st March.After this amendment deductors have more time to file quarterly etds return. After compulsory e filing and filing 100% pan of the deductee ,deductor needs more time to take necessary actions to fulfill these requirements so in view of these mandatory requirements.These amendment is applicable form 01.11.2011 so applicable form 3rd quarter of Fy 2011-12.This amendment is applicable only for Govt offices.

Due date ETDS return 24Q, 26Q 27Q and Form16 ,Form 16A
Sl. No.
Quarter ending
From 01.11.2011 on wards For Govt offices 
For other deductors
Etds return
Form 16A
Etds return
Form 16A
1
30th June
31st July
15th August
15th July
30th July
2
30th September
31st October
15th November
15th October
30th October
3
31st December
31st January
15th Feburary
15th January
30th January
4
31st March
15th May
30th May        (31st May for form 16)
15th May
30th May        (31st May for form 16)


Note:This notification relates to etds returns covered under rule 31A means for quarterly returns 24Q(salary) 26Q(section 193 to 196D except entries covered in 27Q) and 27Q .As the rule 31AA has not been amended so TCS(form 27EQ) return due dates remains unchanged unless notified later.Form 16A is to be issued within 15days from the due date of etds return accordingly now 15 days more available for issuance of form 16A also.


Full notification is given below.
[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

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