Business Daily from THE HINDU group of publications
Tuesday, Feb 05, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Feb 05, 2008 ePaper | Mobile/PDA Version |
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Industry & Economy
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Income Tax Due date for filing quarterly TDS returns in electronic form extended Our Bureau New Delhi, Feb. 4 The Finance Ministry has extended the due date for filing of quarterly statements of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for the quarter ended September 30, 2007, to February 29 this year. These returns were originally due on October 15, 2007, and were to be filed in electronic mode only. A Central Board of Direct Taxes (CBDT) release said that the due date has been extended due to difficulties being faced by tax deductors/collectors in filing statements with the correct PAN data. The tax department had stipulated that PAN data would have to be furnished to the extent of at least 90 per cent in the case of salaried deductees and 70 per cent in the case of other deductees. It may be recalled that for and from the quarter ended September 30, 2007, in addition to Government offices and companies, filing of TDS/TCS returns in electronic form has been made mandatory for deductors/collectors coming under tax audit and in cases where the number of deductees/collectees’ records in a quarter equals more than 50. More Stories on : Income Tax
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