[aurangabad_ca] New TDS Rules notified - Notification no. 9 / 2010 [1 Attachment]
From: ASSOCHAM [mailto:assocham@
Sent: Wednesday, February 24, 2010 2:32 PM
Subject: New TDS Rules notified - Notification no. 9 / 2010
To
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New TDS Rules notified - Notification no. 9 / 2010
The Central Board of Direct Taxes ("CBDT") has notified tax deducted at source ("TDS") rules by reintroducing the following rules by amending the Income-tax Rules, 1962 as under:
Rule 30: Time and Mode of payment to Government account of tax deducted at source or paid under sub-section (1A) of section 192
Rule 31:Certificate of tax deducted at source or tax paid under sub-section (1A) of section 192
Rule 31A : Quarterly statement of deduction of tax under sub-section (3) of section 200
Rule 37A : Returns regarding tax deducted at source in the case of non-residents
Rule 37CA : Time and mode of payment to Government account of tax collected at source under section 206C
Rule 37D : Certificate for collection of tax at source under section 206(C)5
The above rules shall come into force from 1 April, 2009.
Earlier Rules 30, 31, 31A and 31AA of the Income-tax Rules, 1962 were kept in abeyance by the CBDT by a press release dated 30 June, 2009 (enclosed is the press release for your reference) pursuant to the proposal of procedural compliances under TDS regulation of filing return in a new format by including the Unique Transaction number ("UTN") (see Notification No. 31 of 2009 dated 25 March, 2009). Now that the said proposal is not operational, the old rules are reintroduced in same form and content.
The CBDT has also substituted form no. 16, 16A and Annexure I to the form no. 24Q . Furthermore, the CBDT has omitted form no.17 (Tax Challan for Payment of TDS and TCS) and form no. 24C (TDS and TCS Compliance Statement). Therefore, the system of allotting UTN by NSDL for every TDS and TCS transaction would get deleted.
Enclosed is the Notification No. 9 / 2010 / F.No. 142 / 27 / 2009-SO (TPL), dated 17 February, 2010, form no. 16, 16A, Annexure I to form no. 24Q for your reference and use.
D.S. Rawat
Secretary General
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The Associated Chambers of Commerce and Industry of India
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