Limited Time to issue form 16A (TDS Certificate)

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Issue form 16A in Prescribed Period

Issue of Form 16a is a part of duty of Deductor. We should not think that form 16A will be issued as and when we receive request from deductee, As per income tax , deductor should issue form 16a with in a month from the end of each month in which deduction has been made. Some example is given as under :-

if Deductor deducts TDS in the following dates :-

1. 10 th April,2009
2. 30 th June, 2009
3. 1 st July, 2009

In above case form 16A should be issued upto :-

1. 31 st May,2009
2. 31 st July,2009
3. 31 st August,2009

Issue of form 16A on Annual Basis.

On the request of deductee, form 16A can be issued on annual basis. But written request is mandatory before deducting first tds from his payment in the Financial Year.

Penalty for Non-issue or Late issue of Form 16A

If deductor do not issue or late issue form 16a, then as per Income Tax Act, Penalty of Rs. 100/- per day for Late Period can be imposed. Therefore, to avoid any complication or penalty we should issue form 16A in time.

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in the word as per Income Tax Act.

²¹[Certificate for tax deducted.

²²203. ²³[(1)] ²⁴Every person deducting tax in accordance with ²⁵[the foregoing provisions of this Chapter] ²⁶[shall, within such period as may be prescribed from the time of credit or payment of the sum, or, as the case may be, from the time of issue of a cheque or warrant for payment of any dividend to a shareholder], furnish to the person to whose account such credit is given or to whom such payment is made or the cheque or warrant is issued, a certificate to the effect that tax has been deducted, and specifying the amount so deducted, the rate at which the tax has been deducted and such other particulars as may be prescribed.]

²⁷[(2) Every person, being an employer, referred to in sub-section (1A) of section 192 shall, within such period, as may be prescribed, furnish to the person in respect of whose income such payment of tax has been made, a certificate to the effect that tax has been paid to the Central Government, and specify the amount so paid, the rate at which the tax has been paid and such other particulars as may be prescribed.]

²⁸[(3) Where the tax has been deducted or paid in accordance with the foregoing provisions of this Chapter on or after the 1st day of April, ²⁹[2010], there shall be no requirement to furnish a certificate referred to in sub-section (1) or, as the case may be, sub-section (