TDS - The time and mode of payment to Government account of tax deducted at source

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..... rson deducting tax at source in accordance with the provisions of the sections 192, 194, 194-A, 194-B, 194-D and 195 to pay within the prescribed time the sum so deducted to the credit of the Central Government. 2. The time and mode of payment to Government account of tax deducted at source is laid down under Rule 30(1) of the Income-tax Rules. Under Rule 30(1)(b)(ii) all sums deducted in accord .....

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..... n in the prescribed from to the Income-tax Officer as modified under the Rule. Under Rule 34, the Commissioner may, in his discretion, except where deduction is made by or on behalf of the Government, waive the requirement of the monthly return under Rule 32 subject to the conditions laid down therein and such other conditions as he may prescribe. 4. Thus, under the rules, while the Income-tax O .....

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..... bstantially large and the permission granted enables the employers to retain in their possession for a period of three months at a time large funds due to the Government. This is against the intention underlying the duty cast on the employer under Rule 30 (1). Such discretion to allow retention of Government Funds by the employers may also lead to other malpractices. 6. The intention of the prov .....

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..... sible. The monthly return of deduction of tax from salaries, as has already been indicated is required to be filed under Rule 32(1) and this can be waived only by the Commissioner of Income-tax under Rule 34 subject to the conditions laid down therein and any other conditions that he may prescribe. Therefore, if an employer feels that the statements required are voluminous, the remedy is not under .....

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..... the Income-tax Officers may bring to their notice the provisions of Rule 34 whereunder they may, if they so desire, apply to the Commissioner of Income-tax for waiver of the requirement of Rule 32 regarding the submission of the detailed monthly return. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanage .....

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