The Hindu Business Line : Last date for filing TDS returns extended

The last date for filing of annual returns had earlier been extended uniformly to September 30 to give effect to certain proposals contained in the Finance Act, 2003.

Under the Income-Tax Act, 1961, the annual TDS returns are to be normally furnished at the end of April, May or June of the financial year following the previous year in which the tax was deducted at source.

Meanwhile, the President on Monday promulgated the Taxation Laws (Amendment) Ordinance, 2003, to amend provisions of Section 206C pertaining to collection of tax at source by sellers of country liquor, Indian Made Foreign Liquor (IMFL), scrap and timber. The amendments will take effect from Monday, an official release said. The Finance Act, 2003, had made certain amendments to Section 206C, subsequent to which representations were received from various quarters, including States, in the matter of various consequences flowing from the amendments.

It had been decided to postpone the coming into effect of the amendments made to Section 206C in the matter of collection of tax at source by sellers of the specified goods pending a final decision being taken by the Government.

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