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TMI BlogQuarterly statement of deduction of tax or collection of taxX X X X Extracts X X X X X X X X Extracts X X X X ..... rnative to tax required to be deducted by the buyer of such asset under section 194S, the Exchange shall deliver or cause to be delivered, a quarterly statement of such transactions in Form No. 26QF to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) or the person authorised by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems). Explanation: For the purposes of this sub-rule,-- (i) "Exchange" means a person that operates an application or platform for transfer of virtual digital assets, which matches buy and sell trades and execute the same on their application or platform; (ii) "virtual digital asset" shall have same meaning as assigned to it in clause (47A) of section 2.] 12[(2) Statements referred to in sub-rule (1) for the quarter of the financial year ending with the date specified in column (2) of the Table below shall be furnished by the due date specified in the corresponding entry in column (3) of the said Table: Table Sl. No. Date of ending of quarter of financial year Due date (1) (2) (3) 1. 30th June 31st July of the financial year 2. 30th September 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt number (TAN) in the statement; (ii) quote his permanent account number (PAN) in the statement except in the case where the deductor is an office of the Government; (iii) quote the permanent account number of all deductees; (iv) furnish particulars of the tax paid to the Central Government including book identification number or challan identification number, as the case may be. 2[(v) furnish particulars of amount paid or credited on which tax was not deducted in view of the issue of certificate of no deduction of tax under section 197 by the Assessing Officer of the payee; (vi) furnish particulars of amount paid or credited on which tax was not deducted in view of the compliance of provisions of sub-section (6) of section 194C by the payee.] 4[(vii) furnish particulars of amount paid or credited on which tax was not deducted in view of the furnishing of declaration under sub-section (1) or sub-section (1A) or sub-section (IC) of section 197A by the payee.] 9[(viii) furnish particulars of amount paid or credited on which tax was not deducted 18[or deducted at lower rate] in view of the notification issued under sub-section (1F) of section 197A] 30[(ix) furnish pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 194-IA shall furnish to the Director General of Income-tax (System) or the person authorised by the Director General of Income-tax (System) a challan-cum-statement in Form No.26QB electronically in accordance with the procedures, formats and standards specified under sub-rule (5) within 13[ thirty days ] from the end of the month in which the deduction is made.] 15[(4B) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3) or sub-rule (4), every person responsible for deduction of tax under section 194-IB shall furnish to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (System) or the person authorised by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) a challan-cum-statement in Form No.26QC electronically in accordance with the procedures, formats and standards specified under sub-rule (5) within thirty days from the end of the month in which the deduction is made.] 17[(4C) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3) or sub-rule (4), every person responsible for deduction of tax under section 194M shall furnish ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ucting tax under Chapter XVII-B shall, in accordance with the provisions of sub-section (3) of section 200, deliver or cause to be delivered to the Director-General of Income-tax (Systems) or the person authorized by the Director General of Income-tax (Systems), quarterly statement- (i) in Form No. 24Q in respect of deduction of tax at source under sub-sections (1) and (1A) of section 192; and (ii) in Form No. 26Q in respect of other cases of deduction of tax at source, on or before the 15th July, the 15th October, the 15th January in respect of the first three quarters of the financial year and on or before the 15th June following the last quarter of the financial year : Provided that where,- (a) the deductor is an office of Government; or (b) the deductor is a company; or (c) the deductor is a person required to get his accounts audited under section 44AB in the immediately preceding financial year; or (d) the number of deductees' records in a quarterly statement for any quarter of the immediately preceding financial year is equal to or more than fifty, the person responsible for deducting tax at source, and the principal officer in the case of a company sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o. 9/2010 dated 18-2-2010 [Income-tax (First Amendment) Rules, 2010] w.e.f. 1-4-20009, before substitution it was read as, [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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ered the quarterly statements on computer media (3.5" 1.44 MB floppy diskette or CD-ROM of 650 MB capacity): Provided also that a person responsible for deducting tax at source from the payments referred to in rule 37A shall furnish quarterly statements in accordance with the provisions of rule 37A and rule 37B. (2) The person responsible for deducting tax at source and preparing quarterly statements shall,- (i) quote his tax deduction and collection account number (TAN) and permanent account number (PAN) in the quarterly statement: Provided that the permanent account number shall not be required to be quoted where tax has been deducted by or on behalf of the Government; (ii) quote the permanent account number of all persons in respect of whose income, tax has been deducted: Provided that the permanent account number shall not be quoted in respect of the persons to whom the second proviso to sub-section (5B) of section 139A of the Act applies; (iii) furnish particulars of the tax paid to the Central Government. (3) The person responsible for deducting tax at source and preparing quarterly statements on computer media shall, in addition to the provisions in sub-rul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irector General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing of the statements and shall be responsible for the day to day administration in relation to furnishing of the statements in the manner so specified." 11. Inserted vide NOTIFICATION NO. 39/2013 dated 31st May, 2013 12. Substituted vide Not. 30/2016 - Dated 29-4-2016, w.e.f. 1st day of June, 2016 before it was read as, 3[(2) Statements referred to in sub-rule (1) for the quarter of the financial year ending with the date specified in column (2) of the Table below shall be furnished by (i) the due date specified in the corresponding entry in column (3) of the said Table, if the deductor is an office of Government; and (ii) the due date specified in the corresponding entry in column (4) of the said Table, if the deductor is a person other than the person referred to in clause(i) Table Sl. No. Date of ending of the quarter of the financial year Due date Due date (1) (2) (3) (4) 1. 30th June 31st July of the financial year 15th July of the financial year 2. 30th September 31st October of the financial year 15th October of the financial yea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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