After amending the rules relating to Tax Deduction at Source (TDS) and Tax Collected at Source (TCS), the Central Board of Direct Taxes (CBDT) has said that the new Form No.17 (the challan for payment of TDS and TCS) will be applicable only for payment of TDS or TCS on or after April 1. ''In respect of any TDS or TCS made before April 1, 2009, the payment will continue to be made to the credit of the Central Government by using the challan in Form No 281, the old challan form, even after March 31, 2009,'' an official statement said today.
The Board will soon issue a detailed circular on the amended rules relating to TDS and TCS
Saturday, April 18, 2009
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