Notification 34/2008

[sunil jain]

As per recent CBDT notification 34/2008 dt 13-03-2008, tax by all specified persons shall be paid electronically only wef 01-04-08. Whether this notification would applly to deposit of TDS also.

AI Summary

CBDT Notification 34/2008 Mandates E-payment for Specified Persons, Excludes TDS Deposits per Income Tax Act Section 2(43). A query was raised regarding whether the recent CBDT notification 34/2008, which mandates electronic payment of tax by specified persons from April 1, 2008, applies to the deposit of TDS. Two responses clarified that the notification does not cover TDS payments. The definition of 'tax' under section 2(43) of the Income Tax Act was cited to support this, indicating that the notification's wording does not include amounts deducted under Income Tax provisions.