TDS Certificates downloaded only from TRACES are valid

TDS Certificates downloaded only from TRACES are valid

Downloading of TDS Certificatesfrom TRACES is mandatory: In this regard, your attention is invited to the CBDT circulars 04/2013 dated 17.04.2013, CBDT Circular No. 03/2011 dated 13-5-2011 and CBDT Circular No. 01/2012 dated 9-4-2012 on the Issuance of certificate for Tax Deducted at Source in Form 16 and Form 16A. It is now mandatory for all deductors to issue TDS certificates after generating and downloading the same from “TDS Reconciliation Analysis and Correction Enabling System” or http://www.tdscpc.gov.in (hereinafter called TRACES Portal).

TDS Certificates downloaded only from TRACES are valid: In view of above circulars, it may kindly be noted that the 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.

Due Date for downloading and Penalty for non-compliance:  Please be advised that under the provisions of section 203 of the Income Tax Act, 1961 read with rule 31A, Certificate of tax deducted at source is to be furnished within fifteen (15) days from the due date for furnishing the statement of tax deducted at source. Failure to comply with the provisions of the Act will attract tpenalty under the provisions of section 272A of the Act, a sum of one hundred rupees for every day during which the failure continues. However, penalty shall not exceed the amount of tax deductible or collectible in case of failure to deliver or pay declaration u/s. 197A, furnish a certificate u/s. 203 or annual return of tds/tcs u/s. 206 and 206C.

Post Your Comments


Enter the above code

 
Comments
Latest Updates
  • Indian expatriates in the Gulf and those intending to go there on work should expand their initials in their ...
  • Taxman turns lens on domestic assets of high net-worth individuals The Income-Tax Department is zeroing in on ...
  • Levy Cheque return charges only if customer is at fault - RBI Circular
Recent Posts
Small Savings Scheme PPF,SCSC, Sukanya Samridhi NSC etc. Revised Interest Rates
Customs Baggage Rule
Budget 2016 Highlights (Direct Tax)
CHANGES IN CUSTOMS BAGGGE DECLARATION REGULATIONS
Economic Survey 2015-16
Interest Rates of Small Saving Schemes to be revised on a Quarterly Basis w. e. f 01/ 04 /2016
Government of India extended the last date for applying for conversion of PIO cards to OCI cards to June 30th 2016 from March 31.
Highlights of the Railway Budget 2015-16
Featured Video
  • Keralarealestatesite
  • NRI Guide 2013
  • NRI Guide 2013
  • Financial planning
  • Financialplanng
  • logo