Due Date for downloading TDS certificates from Traces

Due Date for downloading TDS certificates from Traces

It is mandatory for all deductors to issue TDS certificates after generating and downloading the same from “TDS Reconciliation Analysis and Correction Enabling System” or (https://www.tdscpc.gov.in) (hereinafter called TRACES Portal).

Penalty for not issuing TDS Certificates downloaded from Traces within Due Date

Failure to comply with the provisions of the Act will attract penalty under the provisions of section 272A of the Act, a sum of one hundred rupees for every day during which the failure continues.

TDS Certificates not downloaded from Traces are Invalid

TDS Certificates downloaded only from TRACES Portal will be valid. Certificates issued in any other form or manner will not comply to the requirements referred in the Income-tax Act 1961 read with relevant Rules and Circulars issued in this behalf from time to time.

Download TDS Certificates ( Form No 16 – In case of Salaries )

All deductors (including Government deductors who deposit TDS in the Central Government Account through book entry) shall issue the Part A of Form No. 16, by generating and subsequently downloading through TRACES Portal, in respect of all sums deducted on or after the 1st day of April, 2012 under the provisions ofsection 192 of Chapter XVII-B. Part A of Form No 16 shall have a unique TDS certificate number.

Part B  of Form No. 16 shall be prepared by the deductor manually and issued to the deductee after due authentication and verification alongwith the Part A of the Form No. 16 stated above.

Time Limit for Issue of Downloaded TDS Certificates ( Form No 16 – In case of Salaries )

Sub rule (3) of rule 31 of the Income Tax Rules sets the time limit for issuance of Form 16 by the deductor to the employee. Currently, Form 16 should be issued by 31st May of the financial Yearimmediately following the financial year in which income was paid and tax deducted.

For Example for the TDS Deducted on Salaries for Financial Year 2015-16, TDS Certificate has to be issued by the Deductor before 31st May 2016

Download TDS Certificates (Form No 16A -in case of Other than Salaries )

All deductors (including Government deductors who deposit TDS in the Central Government Account through book entry) shall issue TDS certificate in Form No. 16A generated through TRACES Portal with a unique TDS certificate number in respect of all sums deducted on or after the 1st day of April, 2012

The deductor, issuing the TDS certificate in Form No.16A by downloading from TRACES Portal shall authenticate such TDS certificate by either using digital signature or manual signature.

Time Limit for Issue of Downloaded TDS Certificates (Form No 16A -in case of Other than Salaries )

All deductors has to issue TDS Certificates  within 15 days from the due date  for furnishing the  statement / TDS return .

Due Dates of Filing TDS Return and Issuing the TDS Certificates in Form 16A

Date of ending of quarter of financial year Due date of Filing TDS Return Due Date for Issuing TDS certificates
30th June 31st July of the financial year Within fifteen days from the due date for furnishing the statement of tax deducted at source
30th September 31st October of the financial year

 

Within fifteen days from the due date for furnishing the statement of tax deducted at source
31st December 31st January of the financial year Within fifteen days from the due date for furnishing the statement of tax deducted at source
31st March 31st May of the financial year immediately following the financialyear in which the deduction is made”. Within fifteen days from the due date for furnishing the statement of tax deducted at source

 

Leave a Reply

Your email address will not be published. Required fields are marked *