TDS reporting requirements updated to prescribe periodic electronic statements for certain interest payments by specified payers, extendable by notification. Section 206A is amended to substitute specific 'quarterly returns' with such statements for such period as may be prescribed, requiring specified payers of small-value interest to prepare and deliver prescribed statements to the income-tax authority in prescribed form, manner and within prescribed time, on computer-readable media; the Central Government may by notification require other payers under Chapter XVII to do likewise and a consequential amendment to section 272A is proposed.
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Provisions expressly mentioned in the judgment/order text.
TDS reporting requirements updated to prescribe periodic electronic statements for certain interest payments by specified payers, extendable by notification.
Section 206A is amended to substitute specific "quarterly returns" with such statements for such period as may be prescribed, requiring specified payers of small-value interest to prepare and deliver prescribed statements to the income-tax authority in prescribed form, manner and within prescribed time, on computer-readable media; the Central Government may by notification require other payers under Chapter XVII to do likewise and a consequential amendment to section 272A is proposed.
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