Once again the
season of filing income tax returns has come. Government has notified almost
all Income Tax Return (ITR) Forms barring a few, which may be notified in next
few days.
TDS certificate is
one of the most required documents for filing ITR.
As per section
203 of the Income Tax Act, Every
person deducting TDS shall provide TDS certificate with all details.
Form 16 for
financial year 2012-13 in case of salaried employees should have been provided
by May 31, 2013 and Form 16A should have been provided within fifteen days from the due date for
furnishing the statement of tax deducted at source under rule 31A.
Although, Form 26AS is also of help, but
it should be used to match the amounts with Form 16/Form 16A, as the case may
be.
So, please ask for the TDS certificates
from your employer/payer, in case you have not received the same till date.
Rs. 100 per day penalty has been
prescribed for delay in providing TDS certificates as per section 272A (2) (g).
Note:
1. The above write up is only for awareness purpose and should not
be considered as expert opinion.
2. Please feel free to share with your friends and everyone
without any copy right issues.
RELEVANT PROVISIONS
Certificate for tax deducted.
203. [(1)] Every person deducting tax in accordance
with [the foregoing
provisions of this Chapter] [shall, within
such period as may be prescribed from the time of credit or payment of the sum,
or, as the case may be, from the time of issue of a cheque or warrant for
payment of any dividend to a shareholder], furnish to the person to whose
account such credit is given or to whom such payment is made or the cheque or
warrant is issued, a certificate to the effect that tax has been deducted, and
specifying the amount so deducted, the rate at which the tax has been deducted
and such other particulars as may be prescribed.]
[(2) Every
person, being an employer, referred to in sub-section (1A) of section shall, within
such period, as may be prescribed, furnish to the person in respect of whose
income such payment of tax has been made, a certificate to the effect that tax
has been paid to the Central Government, and specify the amount so paid, the
rate at which the tax has been paid and such other particulars as may be
prescribed.]
Certificate of tax deducted at source to be furnished under
section 203.
31. (1) The certificate of
deduction of tax at source by any person in accordance with Chapter XVII-B or
the certificate of payment of tax by the employer on behalf of the employee
under sub-section (1A) of section 192 shall be in—
(a) Form No. 16, if the deduction
or payment of tax is under section 192; and
(b) Form No. 16A if the deduction
is under any other provision of Chapter XVII-B.
(2) The certificate referred to in sub-rule (1) shall specify:—
(a) valid permanent account number
(PAN) of the deductee;
(b) valid tax deduction and collection
account number (TAN) of the deductor;
(c) (i) book identification
number or numbers where deposit of tax deducted is without production of
challan in case of an office of the Government;
(ii) challan identification number
or numbers in case of payment through bank;
(d) (i) receipt number of the
relevant quarterly statement of tax deducted at source which is furnished in
accordance with the provisions of rule 31A;
(ii) receipt numbers of all the
relevant quarterly statements in case the statement referred to in clause (i)
is for tax deducted at source from income chargeable under the head
"Salaries".
(3) The certificates in Forms specified in column (2) of the Table
below shall be furnished to the employee or the payee, as the case may be, as
per the periodicity specified in the corresponding entry in column (3) and by
the time specified in the corresponding entry in column (4) of the said Table:—
TABLE
|
Sl. No.
|
Form No.
|
Periodicity
|
Due date
|
|
(1)
|
(2)
|
(3)
|
(4)
|
|
1.
|
16
|
Annual
|
By 31st day of May of the financial year
immediately following the financial year in which the income was paid and tax
deducted.
|
|
2.
|
16A
|
Quarterly
|
Within fifteen days from the due date for
furnishing the statement of tax deducted at source under rule 31A.
|
(4) If an assessee is employed by more than one employer during
the year, each of the employers shall issue Part A of the certificate in Form
No. 16 pertaining to the period for which such assessee was employed with each
of the employers and Part B may be issued by each of the employers or the last
employer at the option of the assessee.
(5) The deductor may issue a duplicate certificate in Form No. 16
or Form No. 16A if the deductee has lost the original certificate so issued and
makes a request for issuance of a duplicate certificate and such duplicate
certificate is certified as duplicate by the deductor.
(6) (i) Where a certificate is to be furnished in Form No.
16, the deductor may, at his option, use digital signatures to authenticate
such certificates.
(ii) In case of certificates issued under clause (i),
the deductor shall ensure that—
(a) the provisions of sub-rule (2)
are complied with;
(b) once the certificate is
digitally signed, the contents of the certificates are not amenable to change;
and
(c) the certificates have a control
number and a log of such certificates is maintained by the deductor.
(7) Where a certificate is to be furnished for tax deducted before
the 1st day of April, 2010, it shall be furnished in the Form in accordance
with the provisions of the rules as they stood immediately before their
substitution by the Income-tax (Sixth Amendment) Rules, 2010.
Explanation.—For
the purpose of this rule and rule 37D, challan identification number means the
number comprising the Basic Statistical Returns (BSR) Code of the Bank branch
where the tax has been deposited, the date on which the tax has been deposited
and challan serial number given by the bank.]
Penalty for failure to answer questions,
sign statements, furnish information, returns or statements, allow inspections,
etc.
272A. (1) If any person,—
(a) being legally bound to
state the truth of any matter touching the subject of his assessment, refuses
to answer any question put to him by an income-tax authority in the exercise of
its powers under this Act; or
(b) refuses to sign any
statement made by him in the course of any proceedings under this Act, which an
income-tax authority may legally require him to sign; or
(c) to whom a summons is
issued under sub-section (1) of section
131 either to attend to give
evidence or produce books of account or other documents at a certain place and
time omits to attend or produce books of account or documents at the place or
time,
he shall pay, by way of penalty, [a sum of
ten thousand rupees] for each such default or failure.
(2) If any person fails—
(a) to comply with a notice
issued under sub-section (6) of section
94; or
(b) to give the notice of
discontinuance of his business or profession as required by sub-section (3) of section 176; or
(c) to furnish in due time
any of the returns, statements or particulars mentioned in section 133 or section 206or section
or section; or
(d) to allow inspection of
any register referred to in or of
any entry in such register or to allow copies of such register or of any entry
therein to be taken; or
[(e)
to furnish the return of income which he is required to furnish under
sub-section (4A) or sub-section (4C) of section
139 or to furnish it within the time allowed and in the manner
required under those sub-sections; or]
(f) to deliver or cause to be
delivered in due time a copy of the declaration mentioned in section 197A; or
(g) to furnish a certificate
as required by section 203 [or section
206C]; or
(h) to deduct and pay tax as
required by sub-section (2) of section
226;
[(i)
to furnish a statement as required by sub-section (2C) of section 192;]
[(j) to deliver or cause to be
delivered in due time a copy of the declaration referred to in sub-section (1A)
of section 206C;]
[(k)
to deliver or cause to be delivered a copy of the statement within the time
specified in sub-section (3) of section
200 or the proviso to sub-section (3) of section 206C;]
[(l)
to deliver or cause to be delivered the [statements] within the time specified
in sub-section (1) of ]
he shall pay, by way of penalty, a sum [of
one hundred rupees] for every day during which the failure continues:
[Provided that the amount of penalty for
failures in relation to [a
declaration mentioned in section
197A, a certificate as required by section 203 and] returns under section 206 and 206C
[and statements under sub-section (3) of section
200 or the proviso to sub-section (3) of section 206C] shall not exceed the amount of tax
deductible or collectible, as the case may be:]
[Provided
further that no penalty shall be levied under this section for the failure
referred to in clause (k), if such failure relates to a
statement referred to in sub-section (3) of section
200 or the proviso to sub-section (3) of section 206C which is to be delivered or caused to
be delivered for tax deducted at source or tax collected at source, as the case
may be, on or after the 1st day of July, 2012.]
(3) Any penalty imposable under
sub-section (1) or sub-section (2) shall be imposed—
(a) in a case where the
contravention, failure or default in respect of which such penalty is imposable
occurs in the course of any proceeding before an income-tax authority not lower
in rank than a [Joint] Director
or a [Joint] Commissioner, by
such income-tax authority;
(b) in a case falling under
clause (f) of sub-section (2), by the Chief Commissioner or
Commissioner; and
(c) in any other case, by the [Joint] Director or the [Joint] Commissioner.
(4) No order under this section shall be
passed by any income-tax authority referred to in sub-section (3) unless the
person on whom the penalty is proposed to be imposed is given an opportunity of
being heard in the matter by such authority.
Explanation.—In this section, "income-tax
authority" includes a Director General, Director, [Joint] Director and an Assistant
Director [or Deputy Director]
while exercising the powers vested in a court under the Code of Civil
Procedure, 1908 (5 of 1908), when trying a suit in respect of the matters
specified in sub-section (1) of section
131.]
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