- News>
- Finance & Markets
India Inc will have to necessarily adopt e-TDS: Govt
New Delhi, Mar 18: The Government said on Thursday that filing of tax deduction at source (TDS) returns on paper form after June 2003 was not acceptable and all corporate houses would have to necessarily file it only on electronic format (e-TDS).
New Delhi, Mar 18: The Government said on Thursday that filing of tax deduction at source (TDS) returns on paper form after June 2003 was not acceptable and all corporate houses would have to necessarily file it only on electronic format (e-TDS).
Any TDS return filed by corporate deductors after June 1, 2003 on paper format will not be in conformity with the legal provisions, an official press release said, citing a CBDT clarification.
"Therefore, those corporate deductors who have filed their TDS returns on paper format after 1.6.2003 are required to file the e-TDs in accordance with the scheme of electronic filing of TDS returns to obviate any procedural delays or any legal consequences," it said.
The CBDT was of the view that after coming into effect of the amended provisions, all corporate deductors were mandatorily required to file TDS returns in computer media only, it said.
The assertion comes in the wake of instances that some of the companies had made their TDS return filing on paper format after June 2003.
The board also said all TDS returns would have to be filed only in new forms -- Form 24, 26 and 27 from July 31, 2003 and TDS returns filed in old forms would not be in conformity with law.
Bureau Report
"Therefore, those corporate deductors who have filed their TDS returns on paper format after 1.6.2003 are required to file the e-TDs in accordance with the scheme of electronic filing of TDS returns to obviate any procedural delays or any legal consequences," it said.
The CBDT was of the view that after coming into effect of the amended provisions, all corporate deductors were mandatorily required to file TDS returns in computer media only, it said.
The assertion comes in the wake of instances that some of the companies had made their TDS return filing on paper format after June 2003.
The board also said all TDS returns would have to be filed only in new forms -- Form 24, 26 and 27 from July 31, 2003 and TDS returns filed in old forms would not be in conformity with law.
Bureau Report