Time and mode of payment to Government account of tax deducted or collected at source or tax paid under section 392(2)(a) - Rule 218 (New) / Rule 30 (Old)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Income Tax Rules, 1962. Rule 218(1) - Payment by Government offices Government offices are required to deposit TDS/TCS as under section 392(2)(a): • on the same day where payment is made without production of an income-tax challan; or • within 7 days from the end of the month in which deduction/collection is made or tax becomes due under section 392(2)(a), where....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....), Table Sl. Nos. 6(ii)} ; and • consideration for transfer of virtual digital assets {Section 393(1), Table Sl. Nos. 8(vi)} The tax is to be deposited within 30 days from the end of the month of deduction, accompanied by Form No. 141. Rule 218(4) - Quarterly payment in special cases The Assessing Officer may, with prior approval of the Joint Commissioner, permit quarterly ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... by 30 April where it relates to March; and • within 15 days from the end of the relevant month in other cases. Rule 218(7) - Book Identification Number The person responsible for furnishing the Government statement is required to intimate the Book Identification Number (BIN) generated by the Director General of Income-tax (Systems), or any other person authorised by him to th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... In such cases, the amount of tax shall be remitted electronically into the Reserve Bank of India, the State Bank of India, or any authorised bank. Rule 218(11) - Procedure for electronic remittance The Director General of Income-tax (Systems) is empowered to specify: • procedure; • formats; and • standards for electronic remittance and is res....