Tuesday, March 31, 2009

Notification on TDS and TCS

The Board has amended the rules relating to Tax Deduction at Source (TDS) and Tax Collected at Source (TCS) vide Notification No. S.O.858 (E) dated 25th March 2009. 

In this context, taxpayers are informed that the new Form 17 (the challan for payment of TDS and TCS) is applicable only for payment of tax deducted or collected at source on or after 1st April 2009. Therefore, in respect of any TDS or TCS made before the 1st April, 2009, the payment will continue to be made to the credit of the Central Government by using the challan in Form No. 281 (i.e. the old challan form) even after 31st March 2009. 

The Central Board of Direct Taxes will shortly issue a detailed circular on the amended rules relating to TDS and TCS. 

No comments:

It may kindly be noted that comments published in this blog are the views of our readers. The administrator of this blog is not responsible in any way regarding the comments and opinions expressed here.
Viewers are requested to post relevant comments only and abstain from making any comment which can hurt any person or group.

My Headlines