TDS ON SALARY BY GOVERNMENT DEDUCTORS

[sarath s]

Is there any exemption or provision available to government deductors for considering the period as March to February while issuing form 16? Or do the have to mandatorily follow April to march as everybody else?

AI Summary

No Exemption for Government Deductors to Alter Fiscal Period for Issuing Form 16 Under Income Tax Act. A participant inquired whether government deductors have any exemption allowing them to issue Form 16 for the period of March to February instead of the standard April to March. The responses clarified that there is no provision in the Income Tax Act for government deductors to alter the fiscal period for issuing Form 16. Additionally, it was noted that government salaries for March are often paid in April, affecting the tax year in which they are considered.