Downloading of tds certificates from traces was made mandatory by cbdt circulars 0420 dated 17. On 11th december, 2014 traces has is issued advisory notice to tds deductor, download tds certificate. Issuance of the tds certificate form 16a tdsman blog. Further, non issuance of form 16 under 203 shall be liable for penalty at the rate rs 100 each day under section 272a. Earlier this was mandatory for only companies,banks and cooperative societies engaged in banking services with effect from 01. Dear sir, i want to know that last date to issue certificate is 31 st july or 30th july i have request for download the form 16 a on this day 30th july morning normally website was take to generate the same an hour but today it was almost 6 hours passed files was not generating so i have to pay penalty. Form 16a will be issued by when tds is deducted for fixed deposits, for tds deducted on insurance commissions, on rent receipts, or any other income. Some deductors may have already issued form 16a for the 4th quarter by now but most tend to. Noncompliance of tds might discontinue your business.
Non deduction of tax at source, either in whole or in part. As per the financial budget of 2016, onresident indians who do not have a pan number are not supposed to pay a higher rate of tds. As the rule 31aa has not been amended so tcsform 27eq return due dates remains unchanged unless notified later. Form 16a text file will be available only after you have submitted regular statement in form 26q27q and the same has been processed at tds cpc.
Further, nonissuance of form 16 under 203 shall be liable for penalty at the rate rs 100 each day under section 272a. For the purpose of deduction of tax on the income other than salary income, tds certificate form 16a is issued by person making the payment i. Employer should download the form 16 with time given by the income tax department. An employer can be penalized for not issuing form 16 by due date 2 min read. It is a certificate under section 203 of the income tax act,1961 for tax deducted at source from income chargeable under the head salaries. Failure to issue tds certificates by due date can result in penalty of rs 100. The income tax department has set time limits for issuing of tds certificates form 16 and 16a by the deductors. How to download and prepare tds certificates issue of. Some deductors may have already issued form 16a for the 4th. After filing returns you are giving 15 days time to download form 16a16 tell me can we issue form 16 to the deductees in the middle of the f. Failure to comply with the provisions of the act will attract penalty under.
Check here the tds certificate download due date sec 203 and penalty for the employer. Employer shall be liable for a penalty at the rate of 100 for every day during which failure continues,if delay is without reasonable cause. Downloading of tds certificates form 16 form 16a traces. Now with everything online, you cannot even back date the certificates.
Under section 203 of the incometax act, 1961, the employer is mandated to issue form 16 to the employees showing the total tds on income. Delay in download of tds certificate attracts penalty taxguru. Cbdt permits issue of tds certificate for nonsalary form. Penalty for late issue of tds certificate tds interest and penalty c. The concept of tax deducted at source tds and tax collection at source tcs are specifically for targeting the revenue collection at the very source where the income is generated. For first time login to traces, login with existing user idand password as. Form 1616a mandatory to download from traces endeavor. In a nutshell, it can be said that form 16a is issued in all such cases where form 16, form 16b or form 16c is not issued. Due date for downloading and penalty for noncompliance. If a deductor fails to issue tds certificate within the specified date, heshe will be levied with a penalty of rs 100 per day for. Tds certificate must be issued by employers to employee within 15 days of filing their fourth quarter tds returns. Form 16a is given as tds certificate for tds deducted on income other than salary income. However, you have not yet downloaded tds certificates forms 16.
Tds certificates should be downloaded only from the traces tds. Tds certificate download due date and penalty for noncompliance. In the previous article we have shared detailed tds rates chart for fy 201819 ay 201920 and here we are sharing due date for filing tdstcs return, issuance of form 16 and tds payment for fy 201718 ay 201819. Due dates for efiling of tdstcs return fy 201819 ay 201920, due dates for efiling of tdstcs return interest on late payment. Total penalty under section 272a,2003,203,206,should not exceed the amount of tax deductible at source. Download tds certificates at traces within due date reminder. Hence, form 16 must be issued within 15 days of filing the fourth quarter tds returns. This notification relates to etds returns covered under rule 31a means for quarterly returns 24qsalary 26qsection 193 to 196d except entries covered in 27q and 27q. Due date form 16a tds certificate changed income tax india. In simple terms form 16 is the salary income certificate that is issued by your employer. Penalty for tds return oct dec penalty for tds return jan mar note. Tds certificate in form 16 is to be issued annually whereas tds certificate in form 16a is to be issued quarterly. Start collecting your tds certificates now, deductors cant delay.
Complete guide on downloading form 16a by deductor of tax from traces website of income tax department. Every tax deductor has to issue the tds certificates to deductee. Due dates for efiling of tdstcs return fy 201819 ay. Form 27q is the statement of the return for the nonsalary payments done to an nri. Tds certificate is to be downloaded within 15 days of tds returnthis is quarterly in case of tds non salaryhowever for tds salary,return is. Deductors registered on tin and having a tan account need not register again on traces. All you need to know about form 16a income tax return. Six annoyingly simple questions on form 16 answered. On 11th december, 2014 traces has is issued advisory notice to tds deductor, download tdscertificate form 16. He shall issue the tdstcs certificate in respect of tax deductedcollected by. Tdstcs general information, due date to deposit tds and.
Traces facilitates the buyer of immovable property to download form 16b after registering on traces as taxpayer. 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. While form 16 is your salary certificate issued by the employer, form 16 a is also a tds certificate that is applicable for tds on income other than salary. Penalty for not downloading tds certificate resolved. For example, form 16a is taken out by banks when they subtract tds on the interest earned on. Section 203 of the incometax act, 1961 the act read with the rule 31 of the incometax rules, 1962 the rules provides for furnishing of certificate of tax deduction at source tds by the deductor to the deductee.
Under section 203 of the income tax act, 1961 the tax deducted at source tds other than from salary income, i. The facility of issue of tingenerated form 16a can, therefore, be availed of only for the last quarter of fy 201011see note1 below. Download income tax forms form 16 a, itr forms etc. Mandatory issue of tingenerated form 16a for certain deductors. 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.
In case of tds deducted on salary form no 16 has to be issued for which you can refer how to download form 16 tds certificate from traces. Failure to issue tds certificates by due date can result in penalty of rs 100 per day of delay per certificate. This is the form for issuing tds certificate for other than salary. Download manual note for tds salary,there are 2 forms tds form 16 part ato be downloaded from traces and tds form 16 part b to be manually prepared penalty in case downloaded late, there is penalty of 100 per day step 1 send request for tds certificate go to then click login button.
Penalty for late issue of tds certificate tds interest. These certificates provide details of tds tcs for various transactions between deductor and deductee. This refers to the details submitted over form 24q. However, the penalty will not exceed the amount of tax deductible. This penalty cannot be more than tax involved tds non salary we know that tds return 26q is to be filed quarterly in this case tds certificate form 16a is to be issued within 15 days of return quarterly example for apriljune,tds return is to be filed by 31 july. Form 16a is a tax deducted at source tds certificate provided along with the form 16. The due date for issue of form 16a for the first three quarters of fy 201011 have already expired. For assessment year 201011, form 16, form 16a has to be issued upto 30. It is mandatory to issue these certificates to tax payers. All the deductor shall issue form 16 a generated or downloaded from. The content of form 16a is similar to part a of form 16.
Separate certificates should be prepared for each section nature of payment. After filing returns you are giving 15 days time to download form 16a 16 tell me can we issue form 16 to the deductees in the middle of the f. Delay in issuing certificates will involve a fine of rs. Rate of tds deduction in various cases of form 16a s. The form 16a is a certificate to endorse the amount of tax deducted at source for individuals whose earnings are generated from nonsalary incomes. Details to be printed on form 16a this information will be printed on form 16a for each pan.
Belated issue or non issue of tds certificate tdsman blog. If you are a salaried individual, form 16 is essential while. What is the penaltyinterest for issuing form 16 form 16a after the due date as applicable. For first quarter of 1 st april to 30 th june 15 th august.
The form 16 is only for salary income the form 16a is applicable for tds on income sources apart from salary. Start collecting your tds certificates now, deductors can. Last date for issuance of the tds certificate form 16a for quarter 1 of fy. Penalty for employer it is compulsory for the employer to furnish form 16 to the employee, whether it is the present or any previous employer. The indian buyer is required to submit the form 27q at every quarter before the due date. Filing of specified transactions details in form 61a. An employer can be penalized for not issuing form 16 by. In this regard, your attention is invited to the cbdt circulars 0420 dated 17. The buyer of the property would be required to issue form 16b to the seller of the property in respect of the tds deducted and deposited with the government. Government of india, ministry of finance, department of revenue, central board of direct taxes, 1.
This form is an annual statement indicating all the tax related information tds, tcs, refunds, etc. Issuing form 16 to zero tax employees posted by gautham on october 6, 2016. Delay in download of tds certificate attracts penalty. Issuing form 16 to zero tax employees hinote systems. Form 16a files are available from fy 200708 onwards. What is the difference between form 16 and form 16a. Ms abc will issue form 16 as tds certificate to karan. Form 16a is to be issued within 15days from the due date of etds return accordingly now 15 days.