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Notifications, circulars, etc. relating to Income tax issued during the year 2009

 

New TDS Rules 30, 31, 31A AND 31AA to be made effective from date to be notified and not from 1-7-2009 as earlier notified.

 

New TDS Rules 30, 31, 31A AND 31AA made effective from 1-7-2009 Press Release No. 402/92/2009 - MC (11 of 2009), dated 11-5-2009
The Central Board of Direct Taxes have decided to defer the implementation of Notification No. 31/2009 dated 25-3-2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962. The amended / substituted Rules will now come into effect on 1st July 2009 instead of 1st April 2009. Tax deductors / collectors may continue to deposit TDS / TCS tax and file TDS / TCS returns as per the pre-amended provisions in the interim period.

 

 

Ministry of Finance

Notification on TDS and TCS

The Board has amended the rules relating to Tax Deduction at Source (TDS) and Tax Collected at Source (TCS) vide Notification No. S.O.858 (E) dated 25th March 2009.

In this context, taxpayers are informed that the new Form 17 (the challan for payment of TDS and TCS) is applicable only for payment of tax deducted or collected at source on or after 1st April 2009. Therefore, in respect of any TDS or TCS made before the 1st April, 2009, the payment will continue to be made to the credit of the Central Government by using the challan in Form No. 281 (i.e. the old challan form) even after 31st March 2009.

The Central Board of Direct Taxes will shortly issue a detailed circular on the amended rules relating to TDS and TCS.

BSC/BY/GN-105/09

(source : website of nsdl)

 

INCOME-TAX (EIGHT AMENDMENT) RULES, 2009 - AMENDMENT IN RULES 24Q AND 26Q; SUBSTITUTION OF RULES 30, 31, 31A, 31AA, 37CA, 37D AND FORMS 16, 16A, 16AA, 27D, 27Q AND 27EQ; INSERTION OF FORM 24C; OMISSION OF RULE 37A –
NOTIFICATION NO. 31/2009[F.NO.142/22/2008-TPL]/S.O.858(E), DATED 25-3-2009

 

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 (Eight Amendment) Rules, 2009.

(2) They shall come into force on the 1st day of April, 2009

2. In the Income-tax Rules, 1962, -

1. for rules 30, 31, 31A and 31AA, the following rules shall be substituted, namely:-

 

“Time and mode of payment to Government account of tax deducted at source or tax paid under Chapter XVII-B

30. (1) All sums deducted in accordance with the provisions of Chapter XVII-B shall be paid to the credit of the Central Government–

(a) within two months from the end of the month in which the amount is credited by the payer to the account of the payee if the crediting is on the date up to which the accounts of the payer are made; and

(b) in any other case, within one week from the end of the month in which the-

(i) deduction is made; or

(ii) income-tax is due under sub-section (1A) of section 192.

(2) Notwithstanding anything contained in sub-rule (1), the Assessing Officer may permit, in special cases, -

 (a) quarterly payment of the amount on June 15, September 15, December 15 and March 15 if the amount is deducted from any income chargeable under the head “Salaries”; and

(b) quarterly payment of the amount on July 15, October 15, January 15 and April 15 if the amount is deducted from any income by way of-

  (i) interest, other than interest on securities;

  (ii) insurance commission; or

  (iii) commission or brokerage referred to in section 194H.

(3) No permission under sub-rule (2) shall be granted without the prior approval of the Joint Commissioner.

(4) The person responsible for making deduction, or payment of tax, under Chapter XVII-B shall, within the time specified in sub-rule (1), or sub-rule (2), -

(a) electronically furnish an income-tax challan in Form No.17; and

(b) pay the amount so deducted to the credit of the Central Government by electronically remitting it into the Reserve Bank of India or State Bank of India or any authorised bank.

(5) For the purposes of this rule, the amount shall be construed as electronically remitted to the Reserve Bank of India or of the State Bank of India or of any authorised bank, if the amount is remitted by way of –

(a) internet banking facility of the Reserve Bank of India or of the State Bank of India or of any authorised bank; or

(b) credit or debit card.

 

Certificate of tax deducted at source or tax paid under sub-section (1A) of section 192

31. (1) The certificate of deduction of tax at source or, the certificate of payment of tax by the employer on behalf of the employee, under section 203 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 be furnished to the deductee

(a) within one week after the date on which the sum of tax deducted at source is paid to the credit of the Central Government if the payment in respect of which the tax so deducted is by way of crediting on the date upto which the accounts of the deductor are made;

(b) within one month from the end of the financial year in which the payment is made to the deductee if-

       (i) the deduction of tax is made under sub-section (1) of section 192;

       (ii) the certificate relates to payment of tax by the employer on behalf of the employee under section (1A) of section 192;

       (iii) the deduction of tax is made under section 194D; or

       (iv) more than one certificate is required to be furnished to a deductee for deductions of income-tax made during a financial year  and the deductee has requested for issue of a consolidated certificate in respect of such deductions;

(c) within fourteen days from the date of payment of income-tax if the payment is made quarterly under sub-rule (2) of rule 30;

(d) within one month from the end of the month in which the deduction of tax at source is made, in all other cases.

(3) The deductor may issue a duplicate certificate in Form No.16 or Form No.16A, as the case may be, 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.

(4) The Assessing Officer, before giving credit for the tax deducted at source on the basis of duplicate certificate referred to in sub-rule (3), shall-

(a) obtain an Indemnity Bond from the deductee; and

(b) get the payment certified by the Assessing Officer designated in this behalf by the Chief Commissioner or the Commissioner.

 

Quarterly statement of deduction of tax or collection of tax

31A. (1) Every person who has been allotted a tax deduction and collection account number under section 203A shall deliver, or cause to be delivered the following quarterly statements; namely:-

(a) the TDS Compliance Statement in Form No.24C;

(b) the Quarterly Statement of deduction of tax under section 192 in Form No.24Q;
 
(c) the Quarterly Statement of deduction of tax under sections 193 to 196D in-

       (i) Form No.27Q in respect of the deductee other than a company, being a non-resident or resident but not ordinarily resident, or the deductee being a foreign company; and

       (ii) Form No.26Q in respect of all other deductees; and

(d) the Quarterly Statement for collection of tax under section 206C in Form No.27EQ.

(2) Every person, who is required to deliver, or cause to be delivered, under sub rule (1), the statements referred to therein, shall deliver, or cause to be delivered, such statements electronically to the Director General of Income Tax (Systems) or the person
authorised by the Director General of Income Tax (Systems).

(3) The statement in Form No.24C referred to in sub-rule (1), shall be delivered, or cause to be delivered, on or before the 15th July, the 15th October, the 15th January in respect of the first three quarters of the financial year, respectively, and on or before the 15th June following the last quarter of the financial year.

(4) The statements in Form No.24Q, Form No.26Q, Form No.27Q and Form No.27EQ referred to in sub-rule(1), shall be delivered, or cause to be delivered, on or before the 15th June following the financial year.”;

(b) rule 37A shall be omitted;

(c) for rules 37CA and 37D, the following rules shall be substituted, namely:-

 

“Time and mode of payment to Government account of tax collected at source under Chapter XVII-BB

37CA. (1) All sums collected in accordance with the provisions of Chapter XVII-BB shall be paid to the credit of the Central Government within one week from the end of the month in which the collection is made.

(2) The person responsible for making collection under Chapter XVII-BB shall, within the time specified in sub-rule (1), -

(a) electronically furnish an income-tax challan in Form No.17; and

(b) pay the amount so collected to the credit of the Central Government by electronically remitting it into the Reserve Bank of India or State Bank of India or any authorised bank.
 
(3) For the purposes of this rule, the amount shall be construed as electronically remitted to the Reserve Bank of India or of the State Bank of India or of any authorised bank, if the amount is remitted by way of –

(a) internet banking facility of the Reserve Bank of India or of the State Bank of India or of any authorised bank; or

(b) credit or debit card.

 

Certificate of tax collected at source

37D. (1) The certificate of collection of tax at source under sub-section (5) of section 206C shall be in Form No.27D.

(2) The certificate referred to in sub-rule (1), shall be furnished to the deductee within one month from the end of the month in which the amount is debited to the account of the buyer or licensee or lessee or payment is received from the buyer or licensee or lessee,
as the case may be.

(3) The person responsible for collecting tax at source may issue a duplicate certificate in Form No.27D, if the buyer or licensee or lessee 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 person responsible for collecting tax at source.

(4) The Assessing Officer, before giving credit for the tax collected at source on the basis of duplicate certificate referred to in sub-rule (3), shall-

(a) obtain an Indemnity Bond from the buyer or licensee or lessee; and

(b) get the payment certified by the Assessing Officer designated in this behalf by the Chief Commissioner or the Commissioner.”;

form

 

Income-tax (Seventh Amendment) Rules, 2009 - Insertion of rule 37BB Notification No. 30/2009 [F. No. 142/19/2007-TPL]/S.O. 857(E), dated 25-3-2009

In exercise of the powers conferred by section 295 read with sub-section (6) of section 195 of the Income-tax Act, 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 (Seventh Amendment) Rules, 2009.
(2) They shall come into force with effect from 1st July, 2009.
2.     In the Income-tax Rules, 1962, after rule 37BA, the following rule shall be inserted, namely:—

"Furnishing of information under sub-section (6) of section 195.
37BB. (1) The information under sub-section (6) of section 195 shall be furnished by the person responsible for making the payment to a non-resident, not being a company, or to a foreign company, after obtaining a certificate from an accountant as defined in the Explanation to section 288 of the Income-tax Act, 1961.
(2) The information to be furnished under sub-section (6) of section 195 shall be in Form No. 15CA and shall be verified in the manner indicated therein and the certificate from an accountant referred to in sub-rule (1) shall be obtained in Form No. 15CB.
(3) The information in Form No. 15CA shall be furnished electronically to the website designated by the Income-tax Department and thereafter signed printout of the said form shall be submitted prior to remitting the payment.
(4) The Director-General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture, transmission of data and shall also be responsible for the day-to-day administration in relation to furnishing the information in the manner specified."