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Form 16 - TRACES (CIRCULAR NO. 04/2013)

CIRCULAR NO. 04/2013

F.No 275/34/2011-IT(B)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, the 17th April, 2013

Sub: Issuance of certificate for tax deducted at source in Form No. 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules 1962 – regarding

1. Section 203 of the Income-tax Act 1961 (“the Act”) read with the Rule 31 of the Income-tax Rules 1962 (“the Rules”) stipulates furnishing of certificate of tax deduction at source (TDS) by the deductor to the deductee specifying therein the prescribed particulars such as amount of TDS, valid permanent account number (PAN) of the deductee, tax deduction and collection account number (TAN) of the deductor, etc. The relevant form for such TDS certificate is Form No. 16 in case of deduction under section 192 and Form No. 16A for deduction under any other provision of Chapter XVII-B of the Act. TDS certificate in Form No. 16 is to be issued annually whereas TDS certificate in Form No. 16A is to be issued quarterly. TDS Certificate in Form No 16 as notified vide Notification No. 11/2013 dated 19.02.2013 has two parts viz Part A and Part B (Annexure). Part A contains details of tax deduction and deposit and Part B (Annexure) contains details of income.

2. With a view to streamline the TDS procedures, including proper administration of the Act, the Board had issued Circular No. 03/2011 dated 13.05.2011 and Circular No. 01/2012 dated 09.04.2012 making it mandatory for all deductors to issue TDS certificate in Form No. 16A after generating and downloading the same from “TDS Reconciliation Analysis and Correction Enabling System” or (https://www.tdscpc.gov.in) (hereinafter called TRACES Portal) previously called TIN website. In exercise of powers under section 119 of the Act, the Board has now decided as following:-

2.1 ISSUE OF PART A OF FORM NO. 16 FOR DEDUCTION OF TAX AT SOURCE MADE ON OR AFTER 01.04.2012:

All deductors (including Government deductors who deposit TDS in the Central Government Account through book entry) shall issue the Part A of Form No. 16, by generating and subsequently downloading through TRACES Portal, in respect of all sums deducted on or after the 1st day of April, 2012 under the provisions of section 192 of Chapter XVII-B. Part A of Form No 16 shall have a unique TDS certificate number.

2.2 AUTHENTICATION OF TDS CERTIFICATE IN FORM NO. 16 :

The deductor, issuing the Part A of Form No. 16 by downloading it from the TRACES Portal, shall, before issuing to the deductee authenticate the correctness of contents mentioned therein and verify the same either by using manual signature or by using digital signature in accordance with sub-rule (6) of Rule 31.

2.3 In other words, Part A of Form No. 16 shall be issued by all the deductors, only by generating it through TRACES Portal and after duly authenticating and verifying it.

 

2.4 ‘Part B (Annexure)’ of Form No. 16 shall be prepared by the deductor manually and issued to the deductee after due authentication and verification alongwith the Part A of the Form No. 16 stated above.

2.5 Sub rule (3) of rule 31of the Rules sets the time limit for issuance of Form 16 by the deductor to the employee. Currently, Form 16 should be issued by 31st May of the financial Year immediately following the financial year in which income was paid and tax deducted.

3.1 The Director General of Income-tax (Systems) shall specify the procedure, formats and standards for the purpose of download of Part A of Form No.16 from the TRACES Portal and shall be responsible for the day-to-day administration in relation to the procedure, formats and standards for download of Part A of Form No.16 in electronic form.

3.2 It is further clarified that Part A of Form No. 16 issued by the deductors in accordance with this circular and as per the procedure, formats and standards specified by the Director General of Income-tax (Systems) and containing Unique Identification Number shall only be treated as a valid compliance to the issue of Part A of Form No. 16 for the purpose of section 203 of the Act read with rule 31 of the Rules.

4. Hindi version shall follow.

-sd-

(Anshu Prakash)

Director (Budget)

Central Board of Direct Taxes

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CBEC extends the date of submission of the return

F.No.137/99/2011-Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs New Delhi, the 15th October, 2012 ORDER NO: 3/2012             In exercise of the powers conferred by sub-rule(4) of rule 7 of the Service Tax Rules, 1994, the Central Board of Excise & Customs hereby extends the date of submission of the  return for the period 1st April 2012 to 30th June 2012, from 25th October, 2012 to  25th November,2012.             The circumstances of a special nature which have given rise to this extension of time are as follows:   a)      ACES will start releasing the return in Form ST3 in a quarterly format, shortly before the due date of 25th October,2012. b)     This will result in all the assesses attempting to file their returns in a short time period, which may result in problems in the computer network and delay and inconvenience to the assesses.  (S.M. Tata) Commissioner Service Tax Central Board of Excise and Customs

SERVICE TAX RETURN DUE DATE ON 25.10.2012

SERVICE TAX RETURN DUE DATE ON 25.10.2012 PERIOD UP TO 30.06.2012 ONLY Service tax return period has been cut short for financial year 2012-13 to three months 01.04.2012 to 30.06.2012 from earlier 01.04.2012 to 30.09.2012 to be filed by 25.10.2012. Notification in this regard is given here under for your ready reference. SERVICE TAX (FOURTH AMENDMENT) RULES, 2012 - AMENDMENT IN RULE 7

NOTIFICATION NO. 47/2012 ST, DATED 28-9-2012

In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend theService Tax Rules, 1994, namely:-

1. (1) These rules may be called the Service Tax (Fourth Amendment) Rules, 2012.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Service Tax Rules, 1994, in rule 7, in sub-rule (2), the following proviso shall be inserted, namely:-

"Provided that the Form 'ST-3' required to be submitted by the 25th day of October, 2012 shall cover the period between 1st April to 30th June, 2012 only."

As per existing service tax rules, every assessee has to file their half yearly return for period 1st April to 30 September on or before 25th October and 2nd half yearly return for period 1st October to 31st March by 25th April every year. But this year, period for first half yearly return for service tax has been cut short to quarter and now service tax return is to be filed for period 01.04.2012 to 30.06.2012 only on or before 25.10.2012.  This change is temporary arrangement and this has been done to settle the issue arises due to implementation of negative list regime. As you are aware that w.e.f. 01.07.2012 negative list regime has been started and there is a single code has been notified to deposit service tax for all the services, so there is no idea to get return filed with individual service detail. Therefore service tax return has been bifurcated in two part, i.e. before negative regime up to 30.06.2012 and after negative service list i.e. w.e.f. 01.07.2012. Return for the period w.e.f. 01.07.2012 to 30.09.2012 has not been disclosed or notified as of now.

Extension Circular of Due Dates for Filing Annual Returns

Dear Stakeholder,

The Ministry issued General Circular No.30/2012 dated  28.09.2012, In order to ensure smooth filing and to avoid last minute rush, the due date of filing of e-forms 23AC(Non-XBRL) and 23ACA (Non XBRL) as per new schedule VI is extended in following manner without any additional fee :-

a)     Company holding AGM or whose due date for holding AGM is on or before 20.09.2012, the time limit will be 03.11.2012 or due date of filing, which ever is later.

b)     Company holding AGM or whose due date for holding AGM is on or after 21.09.2012, the time limit will be 22.11.2012 or due date of filing, which ever is later.

It is suggested that the e-filing of MCA21 forms (especially filing of Balance Sheets and Annual Returns due in October and November respectively) onMCA portal may be carried out AS SOON AS POSSIBLE without waiting till the last date to avoid the last minute congestion on the MCA/MCA21 website. This will result in smooth service delivery to all the stakeholders from MCA.

Further the Ministry vide General Circular No.31/2012 dated 28.09.2012 has extended the filing of e-form 23B for FY 2012-13 without any additional fee till 23.12.2012 or due date of filing which ever is later. All are advised  to file e-form 23B after 22.11.2012 to avoid system congestion

Your cooperation will be appreciated. In case filing has been done by you, please ignore this message

This is a MCA21 system generated mail for your information and necessary action. Please do not reply to this mail.

Ministry of Corporate Affairs
Government of India