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: - Income Tax - 937

NOTIFICATION S.O. 937(E), Dated 10-10-1988 Income-tax (NINTH AMENDMENT) Rules, 1988 INCOME TAX Sub: 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 (NINTH AMENDMENT) Rules, 1988. (2) They shall come into force on the 1st day of April, 1989. 2. In the Income-tax Rules, 1962,- (a) for rule 31, the following rule shall be substituted, namely:- Certificate of tax deducted at source. 31.(1)The certificate of deduction of tax at source under section 203 to be furnished by any person deducting tax in accordance with the provisions of sections 192 to 194, section 194A, section 194B, section 194BB, section 194C, section 194D and section 195 shall be in Form No.16. (2) The certificate mentioned in sub-rule (1) shall be issued on a paper serially numbered and printed by the Central Government in book form and supplied for a consideration to the person deducting tax at source on an application made by him in Form No.17 to the Commissioner having jurisdiction over him in this regard: Provided that the Commissioner may waive such stipulation in the case of companies including public sector companies which have adapted computerization for furnishing such certificate. (3) The certificate mentioned in sub-rule (1) shall be furnished within a period of one month from the date of credit or payment of the sum, or, as the case may be, from the date of issue of a cheque or warrant for payment of any dividend to a shareholder. Provided that where the income by way of interest referred to in section 194A or the sum referred to in section 194C or the income by way of insurance commission referred to in section 194D is credited by a person carrying on a business or profession to the account of the payee as on the date upto which the accounts of such business or profession are made, the certificate under sub-rule (1) shall be issued within a week after the expiry of two months from the month in which income is so credited: Provided further that the certificate in the case of deduction of tax under section 192 may be furnished within one month from the close of the financial year in which such deduction was made. (4) Where in a case, the TDS certificate issued under this rule is lost, the person deducting tax at source may issue a duplicate certificate of deduction of tax at source on a plain paper giving necessary details as contained in Form No.16. (5) The Assessing Officer before giving credit for the tax deducted at source on the basis of duplicate certificate referred to in sub-rule (4), shall get the payment certified from the Income-tax Officer designated in this behalf by the Chief Commissioner or the Commissioner and shall also obtain an Indemnity Bond from the assessee. ; (b) In Appendix II, - (i) for Form No.16, the following form shall be substituted, namely:- FORM NO. 16 (See Rule 31) Certificate of Deduction of Tax at source issued under section 203 of the Income-tax Act, 1961. Tax Deduction A/c No. .. TDS Certificate No: Name Address .. Permanent A/c No. . . of the person .. deducting tax .. Status . Certified that a sum of Rs. . being income- tax +at the rate of percent has been deducted at source from the payment made/credited into the account of the payee for the period ....... to .. and has been paid to the credit of Central Government as per details given below:- 1.a. Name and Address of the person to whom payment made or in whose account it is credited . b. Permanent Account Number of such person . 2.a. Nature of payment . b. Code No. (Indicate Code No. in the box as per instructions overleaf) 1 3. *Details of payment and tax deduction. Sl. No. Amount paid/credited Date of payment/credit Amount of income-tax deducted Date Challan No. of deposit of tax into Central Govt. Account Name of Bank Branch where tax deposited ____________________________________________________________________________________________________ +( at the rate of .per cent - not applicable for Salaries.) 4. Complete address of ITO before whom annual Return/Statement u/s 206 is to be delivered. Signature of the person responsible for deduction of tax. Place. .. Full Name ... Date . Designation ... .. *In case of salaries, the particulars required as overleaf should be furnished. Details of salary paid and deducted at source during the year: Amount of salary Bill No./Challan No. of payment Date of payment Amount of tax deducted Name of Bank Branch where tax deposited April to June ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ September __________________________________________________________________________________________________ ___________________________________________________________________________________________________________ October to December ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ January to March ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________ Arrears etc. ___________________________________________________________________________________________________________ Total _______________________________________________________________________________________________________ Salaries (Sec. 192): 01, Interest on Securities (Sec. 193) :02, Dividend (Sec. 194): 03, Interest other than interest on securities (Sec. 194A): 04, Winnings from Lotteries and Cross - word Puzzles (Sec. 194B): 05, Winnings from horse races (Sec. 194BB): 06, Payments to contractors and sub-contractors (Sec. 194C): 07, Insurance Commission (Sec. 194D): 08, other sums (Sec. 195): 09:; (ii) for Form No. 17, the following form shall be substituted, namely:- Form No.17 (See Rule 31) Application for issue of TDS Certificate Books To The Commissioner of Income-tax, . . Sir, The undersigned has been allotted Tax Deduction Account No vide your letter No .. dated TDS Certificates. 2. The Book No.(s) .. containing certificates numbered from . issued on .. has/have since been exhausted. Yours faithfully ( ) Signature of person responsible for deduction of tax at source Full Name Designation Dated .. Address .. ; (iii) Form Nos. 18, 19, 19A, 19B, 19C, 19D and 20 shall be omitted. [No. 8121 F.No.142/26/88-TPL dated 10-10-1988] *****