Certain changes are brought by Income-tax (Second Amendment) Rules, 2013 with regard to the compliance to be made in respect of TDS and TCS

Certain changes are brought by Income-tax (Second Amendment) Rules, 2013 with regard to the compliance to be made in respect of TDS and TCS, namely:

1) All statements to be furnished in Form nos. 24Q, 27Q and 26Q shall be furnished electronically and deductor has an option to furnish it under a digital signature;

2) Deductor can file statement in the new Form 26B to claim refund of the sum paid to the Central Government under Chapter XVII-B, provided:

a.      The credit of such sum has not been claimed by the deductor;

b.     No demand is outstanding against deductor

3) Following forms have been substituted:

a.      Form 15G – Declaration to be given for claiming certain receipts without TDS

b.     Form 15H - Declaration to be given by an Individual, who is above 60 years of age, for claiming certain receipts without TDS

c.      Form 16 – Certificate of tax deduction from salary

d.     Form 16A – Certificate for tax deduction from any other payment

e.      Form 27C - Declaration to be given for obtaining goods without collection of tax

f.       Form 27D – Certificate for tax collected at source

g.     Form 27EQ – Quarterly statement for tax collected at source

Form 27Q – Quarterly statement for tax deducted at source