TDS Certificate i.e Form 16/16A is the certificate of deduction of Tax at Source issued by the deductor (employer) on behalf of the deductee (employees). This Certificate provides various transactions between the deductor and the deductee. It is been considered incomplete till the valid TDS Certificate has been deducted
CONTENTS OF TDS CERTIFICATE:
The TDS Certificate issued by the deductor/employee contains the following contents:
TDS Certificate is issued in the following forms:
Frequency for Issuance of TDS certificate:
|Particulars||Form No.||Frequency of certificate issuance|
|TDS certificate in respect of tax deducted on salary||Form No. 16||Annually|
|TDS certificate in respect of tax deducted on payments other than salary||Form No. 16A||Quarterly|
Due Date for Issuance of TDS Certificate:
The provisions of section 203 of the Income Tax Act, 1961 read with rule 31A, Certificate of tax deducted at source is to be furnished within fifteen (15) days from the due date for furnishing the statement of tax deducted at source. Failure to comply with the provisions of the Act will attract penalty under the provisions of section 272A of the Act, a sum of one hundred rupees for every day during which the failure continues.
|FORM NO.||PERIODICITY||DUE DATE|
|Form 16–TDS on salary||Annual||By 31st day of may of the financial year immediately following the financial year in which the income was paid and tax deducted|
|Form 16A-TDS on non-salary||quarterly||Within 15 days from the due date for furnishing the statement /return of tax deducted at source|
All the deductor shall issue form 16 A generated or downloaded from TIN central system and authenticate the same either by using a digital or manual signature.
CBDT has revised the due date for filing TDS returns and issuing TDS Certificates for FY 2019-20 (Q4) for Government and Non-Government Deductors due to COVID-19 pandemic situation.
The Revised Dates has been given below:
|Sl. No.||Nature of compliance||Revised Due Dates|
|1.||Form 16 for TDS on salary during FY 2019-20||15-08-2020|
|2.||Form 16A for TDS on income other than salary for Q4 of FY 2019-20||15-08-2020|
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