Indian Government Amends Taxes Deducted at Source Rules

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Jun. 9 – India’s Central Board of Direct Taxes (CBDT) recently updated regulations relating to the mode of payment, certificate issuance, and provision date for taxes deducted at source (TDS) in Notification No. 41/2010; SO No. 1261(E) dated May 31. The amended rules are backdated so as to begin April 1, 2010.

Under the updated regulations, the tax deduction account number of the deductor, the permanent account number of the deductee, and the receipt number of the TDS return will now be combined to form a unique identification that will allow taxpayers to claim tax credits in their income tax returns. The new TDS forms have also been updated to include the receipt number of the TDS return.

The CBDT notification revised the due date for submitting TDS forms for the last quarter of the fiscal year (ending Mar. 31) to May 15.

The due date for providing employees, deductees, or payees with TDS certificates has also been altered. Annual salary TDS certificates are now due by May 31 following the end of the most recent fiscal year. Quarterly non-salary TDS certificates are now due no less than 15 days after the TDS statement due date for the most recent quarter.

Dezan Shira & Associates provides professional tax services in India. Please e-mail the firm at for more information.

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