Delay in Download of TDS Certificate attracts Penalty
If as per the records of
Centralized Processing Cell (TDS), if the TDS Statements have been filed by you
for different quarters and if you have not yet downloaded TDS Certificates
(Forms 16/ 16A) from the portal; please refer to the following provisions of
the Income Tax Act, 1961 which are related to download of
TDS certificate in time and consequence of late download of
Certificate from the website http://www.tdscpc.gov.
Downloading of TDS Certificates
from TRACES made 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
16/16A as per IT Rules 1962. 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 TRACES Portal.
TDS Certificates downloaded only
from TRACES hold 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 penalty under the provisions of section 272A of the Act, a sum of one
hundred rupees for every day during which the failure continues.
Assistance for downloading TDS Certificates from TRACES: You can logon to portal http://www.tdscpc.gov.
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