Section 203 - Certificate for tax deducted - Income Tax - Ready Reckoner - Income Tax

TDS Certificates Certificate for tax deducted [ Section 203 read with Rule 31 ] 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. Every person, being an employer, referred to in section 192(1A) 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 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 section 192(1A) shall be in- (a) Form No. 16 , if the deduction or payment of tax is under section 192 and section 194P ; and (b) Form No. 16A if the deduction is under any other provision of Chapter XVII-B (i.e. Section 193 to Section 206B other than section 192 and 194P). [ Rule 31(1) ] The certificate shall specify:- valid permanent account number (PAN) of the deductee; valid tax deduction and collection account number (TAN) of the deductor; book identification number or numbers where deposit of tax deducted is without production of challan in case of an office of the Government; challan identification number or numbers in case of payment through bank. receipt number of the relevant quarterly statement of tax deducted at source which is furnished in accordance with the provisions of rule 31A ; 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 . [ Rule 31(2) ] Time Limit for issue of TDS/TCS certificate [ Rule 31(3) ] Form No. Periodicity Due date 16 Annual By 15th day of June of the financial year immediately following the financial year in which the income was paid and tax deducted 16A Quarterly Within 15 days from the due date for furnishing the statement of tax deducted at source under rule 31A . Certificate of Tax deduction/collection at source Every person responsible for deduction of tax under the following section shall furnish the certificate of deduction of tax at source in specified Form to the payee within 15 days from the due date for furnishing the challan-cum-statement in specified Forms under rule 31A after generating and downloading the same from the web portal specified by the Director General of Income-tax (System) or the person authorised by him. Rule TDS under section Certificate From Challan-cum-statement Rule 31(3A) section 194-IA Form 16B From no. 26QB Rule 31(3B) Section 194-IB Form 16C From no. 26QC Rule 31(3C) Section 194M Form 16D From no. 26QD Rule 31(3D) Section 194S Form 16E Form no. 26QE In case of More than one employer:- 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. [ Rule 31(4) ] Issue Duplicate Certificate:- 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. [ Rule 31(5) ] Certificate should be sign Where a certificate is to be furnished in Form No. 16 , the deductor may, at his option, use digital signatures to authenticate such certificates. In case of certificates issued under clause (i), the deductor shall ensure that- (a) the provisions of rule 31(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. [ Rule 31(6) ] The Director General of Income-tax (Systems) shall specify the procedure, formats and standards for the purposes of generation and download of certificates and shall be responsible for the day-to-day administration in relation to the generation and download of certificates from the web portal specified by him or the person authorised by him. [ Rule 31(6A) ] 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 (6th Amendment) Rules, 2010 . [ Rule 31(7) ] 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. Important Notification Circulars This circular stipulate the Rules, Standards and procedures for issues of TDS Certificate for tax deducted at source in Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules 1962. [ Circular No. 04/2013 Dated 17-4-2013 ] This circular stipulate the Rules, Standards and procedures for issues of TDS Certificate for tax deducted at source in Form No. 16A in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules 1962. [ Circular No. 01/2012 Dated 9-4-2012 ] Instructions on Issuance of TDS certificates in form no. 16A and option to authenticate same by way of Digital Signature. [ Circular No. 03/2011 Dated 13-5-2011 ] Option to certify TDS certificates by way of digital signatures circular under section 119 of the income-tax act, 1961. [ Circular No. 02/2007 Dated 21-5-2007 ] Issue of TDS Certificate under section 203 of the Income-tax Act - Cases of Truck/Goods-carriage Operators. [ Circular no. 06/2006 Dated 23-6-2006 read with section 194C ] Issuance of certificate for tax deducted at source in respect of payment made Net Tax . [ Circular No. 785 , dated 24-11-1999 read with Section 195A , 198 199 .] Clarification regarding certificate for deduction of tax made by Central Government department who are making payment by book adjustment. [ Circular No. 749 dated 27-12-1996 ]