Blog

Latest changes in TDS provisions

May 3, 2016

In order to bring uniformity and to give Deductors sufficient time for filing TDS/TCS statements CBDT in its notification has amended TDS Provisions w.e.f 1st June 2016.

Here are the changes notified:

1. Due date for filing TDS statements (Form24Q/26Q/27Q)has been made uniform across Government and Non-Government Deductors, following are the amended due dates:

 

Sl. No	Date of ending of quarter of financial year	Due Date
1	30th June	31st July of the financial year
2	30th September	31st October of the financial year
3	31st December	31st January of the financial year
4	31st March	31st May of the financial year immediately following the financial year in which the deduction is made

 

2. TDS challan Payment on Sale of Immovable Property (194-IA) can now be paid within 30 Days from the end of the month in which the transaction is made. Currently the time limit is only 7 days.

3. Time limit for filing statement in Form24G has been changed as follows: 

a. Statement for the month of March: On or before 30th April

b. In any other case: 15 days from the end of the relevant month

4. A new Form 12BB is introduced, for furnishing evidence of claims by Employees to the Employer for computing TDS u/s 192. (For detailed format please click on the Notification link provided below)

5. In Form 24Q, while reporting Annexure-II (Salary Income Details), provision for quoting Name and PAN of the Land Lord is made for employees claiming House Rent Allowances in excess of Rupees One Lakh.

Also provision to quote Name and PAN of the Lender is given, in case employee claims Deduction of Interest paid on Housing Loan.

Please note: The due date for filing TDS Returns pertaining to Quarter-4 of FY 2015-16 still remains 15th May 2016. All Deductors are required file their FY 2015-16 Q4 TDS Statements before May 15 2016.

Notification Link: CBDT NOTIFICATION

Related topics: FVU 5.0, Procedure for TDS / TCS return filing

 

 

Share On:

Tax & e-Filing

59 Responses to “Latest changes in TDS provisions”

1. Praveen Kollavar May 4th, 2016

   Thanks for your information,,

   • VENUGOPAL May 5th, 2016

     THANKS

2. Gunasekaran May 4th, 2016

   Thanks you & govt

3. JITENDRA BALAD May 4th, 2016

   Thanks for information.

4. lakshman May 4th, 2016

   Thanks for your advance information.

5. CA Mayur Sompura May 4th, 2016

   Thanks for inforatiom, Whether same will apply to file return 27EQ ? I request herewith Please include facility of facility of 15CA and 15CB for payment made in foreign currency. Please also include facility of form no. 15H and 15G for TDS not required on Interest and Dividend. I am really happy with Relyon and so expect some more.

   • Mahesh May 4th, 2016

     Dear Mr CA Mayur Sompura,

     Thank you very much for your appreciation. The amendments doesn’t indicate any changes in TCS, so provisions for Form27EQ will remain the same. Facility to manage and e-File Form15G and 15H will be available soon in SaralTDS, you can expect the same by this month end.
     We are also considering Form15CA / CB related automation, will keep you posted on further conclusion.

     With Regards,
     Mahesh B
     Relyon Softech Ltd

     • Mayurkumar Sompura July 12th, 2016

       Thank You Very much Maheshbhai, Appreciate your good response

6. Empati Venkatesham May 4th, 2016

   Thanks your for your update

7. DILIP SEN May 4th, 2016

   Thanks for update as timely

8. Ratan Dhanuka May 4th, 2016

   thanks for the information

9. Praveen H.S May 4th, 2016

   Thank you so much for the regualar Updates.

10. Anil kumar jain advocate May 4th, 2016

    thank you for update

11. premdas May 4th, 2016

    Due date for March16 Tds return?

    • Mahesh May 4th, 2016

      Dear Mr Premdas,

      Due date for filing TDS Statements of Quarter ending March 2016 is 15th May 2016.

12. Benson May 4th, 2016

    THATS WHY I LIKE THIS GOVERNMENT

13. gopal v May 4th, 2016

    Very good . I was looking for time ,particularly 2nd and 3rd quarter. Thanks for providing the information quickly.

14. JAYARAMA.P May 4th, 2016

    Thank you for the information also thanks to Govt

15. sp.chandran May 5th, 2016

    pl confirm whether can we fuv file with nsdl agents for fourth quarter for ye 31.3.2016 on or before 15/5/16 like we do for other quarter(I,II,III)

    • Mahesh May 5th, 2016

      Dear Mr Chandran,

      The FVU for Quarter-4 of FY2015-16 TDS statements has to be filed on or before 15th May 2016

16. G.Sundaram May 5th, 2016

    very good information filing the e tds

    Thanks and Regards

    G.Sundaram
    Finance – Manager
    Scalene Cybernetics Limited

17. shobha May 5th, 2016

    Very good decision from the Government. It was too short a period for filing returns for a huge company with lot of transactions.

18. SUSHEELA SRINIVASA MURTHY May 5th, 2016

    Quoting PAN No. of the Land Lord is mandatory above one lakh on HRA, Rs. 1 lakh is monthly rent or annual rent.
    Please explain the same.

    • Mahesh May 5th, 2016

      Dear Ms Susheela,

      The rent paid for the ‘whole year’ exceeds Rs. One Lakh, the PAN of land lord has to be quoted.

19. seema thakare May 5th, 2016

    Thanks for information provide to us ……

20. Raghavendra May 5th, 2016

    Thank you for update

21. Madhuri Redkar May 5th, 2016

    Thanks for information.

22. Sankar May 5th, 2016

    Thanks u for the Updated information for TDS filling.
    Regards
    Sankar

23. Jose Thomas May 5th, 2016

    Thanks for timely update.

24. Pankaj kumar May 5th, 2016

    welcome move

25. vinod kumar May 5th, 2016

    Now is very enough time for filling of TDS Return, Thanks.

26. Channa Keshava. S. L. May 6th, 2016

    Hi
    Thank you for information and up dates. Hope Govt. is caring for both deductors and deductees. Especially in Place like Bengaluru the time given was so short except for last quarter of the Financial year ending.

    Pl. send the details of TDS return filing Centres like, Karvy… if possible which will help all, as I know the, number of offices are very less in number.

27. Rajesh May 7th, 2016

    Thank u very much !!

28. Relyon May 11th, 2016

    Dear Mr. Channa Keshava SL,

    The list of TIN FCs is available in SaralTDS, under the ‘Tax Related’ menu.

    You can also get the list in the following link, https://www.tin-nsdl.com/tin-facilities.php

    Thank you

29. BHAGWAN DAS SONI May 11th, 2016

    Thanak you

    • GOURANGA DAS May 14th, 2016

      It will be much helpful to the Deductors.

30. VIJESH May 12th, 2016

    THANKS YOU

31. BAHUBALI GOURAJ May 13th, 2016

    It is required the TDS portal for directly upload to the TDS-e-returns

32. SUDHA May 13th, 2016

    Thank you very much for Extend of Due date for TDS Return Filings.

33. PRAKASH KARN MEHTA May 14th, 2016

    Thank you very much , we need direct etds portal to upload from our office,like Income tax return

34. CHATUR PARMAR May 17th, 2016

    Thanks for the update

35. kanti jain May 17th, 2016

    What about amendments in TCS provision & its due dates

36. DG Patil May 17th, 2016

    Dear Sir / Madam,
    Thank you for information and up dates for TDS

37. Advocate Omkar Singh May 17th, 2016

    Dear
    Regarding this amendment, provide the valuable information, Hearty Thanks

38. Vilasini May 18th, 2016

    Thanks for the update

39. krishna kumarV.V May 18th, 2016

    thank you.

    good information and update.

    regards

40. Ravinder Singh May 18th, 2016

    Thanks for value able Updates….

41. CA.VEERENDRA T MURASHILLIN HUBLI May 27th, 2016

    THANKS FOR THE VITALINFORMATION

42. K ZAHOOR AHMED June 6th, 2016

    Thankyou for updat information of TDS

43. Nirmal June 27th, 2016

    thanks for the date extended

44. Pravin Darji June 30th, 2016

    Thank you for updates
    In online correction add challan Manu option is there but pan correction is available or not please confirm

45. Ramesh Sehgal July 1st, 2016

    Please make change in income tax software for assessed having two self occupied houses

46. Ramesh Sehgal July 1st, 2016

    Please change income tax software for assessed having two self occupied houses

    • DEEPAK BHOLUSARIA July 1st, 2016

      Under tax laws, assessee can have only 1 self occupied house, other is deemed to be let out.

47. seema thakare July 1st, 2016

    thanks for tds information…

48. Sunil Shivarama Reddy July 1st, 2016

    Gentleman,

    Thanks a lot for the information to you as well as government for proving additional time limit.

49. KASHINATH DEVASHETTI VASCO GOA July 20th, 2016

    Sir/Madam
    We want to purchase the software for uploading the e-TDS returns to reduce the time to go to the agents like karvy etc. So kindly send us the cost of the software for filing eTDS returns.
    Waiting for your quick responce.
    Regards
    Kashinath Devashetti
    Vassantram Metha and Company Pvt Ltd
    Vasco Da Gama,
    Goa-403802
    Mobile No:7507060912

50. KARMAKAR TAX CONSULTANCY July 24th, 2016

    Sir,
    Your information very important to us.

51. Sunil Shivarama Reddy August 24th, 2016

    thanks for tds information…