- A new rule 26C is being inserted wherein the assessee shall furnish to the employer the evidence or the particulars of the claims such as HRA, Deduction u/c VI-A, in Form No.12BB for the purpose of estimating his income or computing the tax deduction at source.
For different claims, following evidences shall be required:
S. No. | Nature of claims | Evidence |
1 | HRA | Name, address and PAN of the landlord where the aggregate rent paid during the previous year exceeds Rs. 1 Lakh. |
2 | Leave travel concession | Evidence of expenditure |
3 | Deduction of interest under the head Income from house property | Name, address and permanent account number of the lender. |
4 | Deduction under chapter VI-A | Evidence of Investment or expenditure |
- Sub rule 2A of Rule 30 provides that any sum deducted u/s 194IA shall be paid to CG within 7 days from the end of the month in which deduction is made.
The said period of 7 days has been substituted with 30 days. Hence, any sum deducted u/s 194IA shall be paid within 30 days from the end of the month in which deduction is being made.
- Sub rule 2 of rule 31A provides for due date for filing of TDS Returns which is as follow:
S. No. | Date of ending of the quarter of the financial year | Govt. Deductors | Non-Govt. Deductors |
1 | 30th June | 31st July of the financial year. | 15th July of the financial year. |
2 | 30th September | 31st October of the financial year. | 15th October of the financial year. |
3 | 31st December | 31st January of the financial year. | 15th January of the financial year. |
4 | 31st March | 15th May of the financial year immediately following the financial year in which the deduction is being made. | 15th May of the financial year immediately following the financial year in which the deduction is being made. |
The said sub rule is substituted with the following due dates:
S. No. | Date of ending of the quarter of the financial year | Due Dates |
1 | 30th June | 31st July of the financial year. |
2 | 30th September | 31st October of the financial year. |
3 | 31st December | 31st January of the financial year. |
4 | 31st March | 31ST May of the financial year immediately following the financial year in which the deduction is being made. |
Earlier, due dates for both the govt. deductor and non govt. deductor was different. To avoid the complexities, the particular sub rule has been substituted with the new sub rule wherein same due dates has been prescribed for both kind of deductors.