Income Tax department has issued new notification No. 57 /2011/F. No.142/23/2011-SO(TPL), bringing amendments in provisions of Rule 31A and 37BA.
Amendment in Rule 31A
This amendment will affect the due date of filing TDS statements by a government deductor. Therein, the due dates for First, Second and Third quarter has been relaxed to 31st of July, October and January, respectively.
New due dates are as under:
|
Government Deductors |
Others |
Quarter 1 |
31st July |
15th July |
Quarter 2 |
31st October |
15th October |
Quarter 3 |
31st January |
15th January |
Quarter 4 |
15th May |
15th May |
The amendment also adds a point, making it mandatory for all deductors to include transactions exempted u/s 197A, in the TDS statement.
Amendment in Rule 37BA
The amendment in this rule simplifies the conditions for giving credit of TDS for a person, other than a deductee. (By giving a general term, “under any provisions of the Act”)
(Source: Income Tax Department)
Keep posted your TDS subject related queries to tdshelpdesk@relyonsoft.com
