Intimation after processing of TDS statement rectifiable and appealable

Intimation after processing of TDS statement rectifiable and appealable
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Intimation after processing of TDS statement

Vide finance (No.2) Act, 2009, section 200A was inserted in the Income-tax Act to provide for processing of TDS statement. After processing of TDS statement, an intimation is generated specifying the amount payable or refundable.  The intimation generated after processing of TDS statement is not

(i)  subject to rectification under section 154; (ii)  appealable under section 246A; and

(iii)  deemed as notice of demand under section 156.

In order to reduce the compliance burden of the deductor and also to rationalise the provisions of  processing of TDS  statement, it is proposed to provide that the intimation generated after processing of TDS statement shall be

(i)  subject to rectification under section 154;

(ii)  appealable under section 246A; and

(iii)  deemed as notice of demand under section 156.

These amendments will take effect from 1st July, 2012.