TDS Certificate
Introduction
A person deducting tax at source (TDS) must issue a TDS certificate to the deductee, specifying the tax amount, rate, and other prescribed details. The certificate is generated from the TRACES portal after processing the TDS statement.
Types of TDS Certificates
- Form 16– Issued by the employer for TDS on salary (Section 192) or by banks for TDS on senior citizens’ total income (Section 194P). It consists of:
o Part A – TDS details.
o Part B – Salary, perquisites, deductions, and rebates.
o If the salary exceeds Rs. 1,50,000, perquisites must be separately detailed in Form 12BA.
- Form 16A– Issued for TDS on non-salary payments under Sections 192A to 196D, except Sections 192, 194-IA, 194-IB, 194M, 194P, and 194S (for specified persons).
- Form 16B– Issued for TDS on immovable property transactions (Section 194-IA).
- Form 16C– Issued for TDS on rent by individuals/HUFs (Section 194-IB).
- Form 16D– Issued for TDS on contractor/professional payments by individuals/HUFs (Section 194M).
- Form 16E– Issued for TDS on virtual digital assets (Section 194S, for specified persons).
Duplicate TDS Certificate
A duplicate certificate may be issued upon request, marked as “Duplicate.”
Due Dates for Issuing TDS Certificates
|
Form |
TDS Section |
Due Date |
|
Section 192, 194P |
15th June (next FY) |
|
|
Sections 192A to 196D |
||
|
Section 194-IA |
15 days from the due date of furnishing Form 26QB |
|
|
Section 194-IB |
15 days from the due date of furnishing Form 26QC |
|
|
Section 194M |
15 days from the due date of furnishing Form 26QD |
|
|
Section 194S (for specified persons) |
15 days from the due date of furnishing Form 26QE |
Penalty for Non-Issuance
Failure to issue a TDS certificate attracts a penalty under Section 272A.