Taxontips
No Result
View All Result
Wednesday, July 16, 2025
Login/ Register
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Talk to an Expert
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
No Result
View All Result
Taxontips
No Result
View All Result

Rule 31A (governing TDS statement) amended by way of notification to include 194K, 194N, 194-O etc

Income tax Expert by Income tax Expert
July 5, 2020
in Income Tax News
0
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
123
SHARES
1.5k
VIEWS
image_pdfPDFimage_printPrint

CBDT vide notification Dt. 03.07.2020 has amended rule 31A which provides rule for TDS statement.

As we know Budget 2020, has introduced section 194K, 194-O and reintroduced section 194N and same have now been introduced or included in TDS statement i.e. Form 26Q (for resident payee) and 27Q (for non resident payee).

Further, in clause (viii) of the said rule, amendment has been made to include details of reason for lower deduction along with non-deduction if same was liable to be deducted at normal rate i.e. provide details of certificate received if any for the same.

Details of few amendments are as follows:

“in rule 31A, in sub-rule (4),

(a) in clause (viii), after the words “not deducted”, the words “or deducted at lower rate” shall be inserted;

(b) for clause (ix) the following shall be substituted from the 1st day of July, 2020, namely:

(ix) furnish particulars of amount paid or credited on which tax was not deducted or deducted at lower rate in view of the notification issued under second proviso to section 194N or in view of the exemption provided in third proviso to section 194N or in view of the notification issued under fourth proviso to section 194N”;

(c) after clause (ix), the following clauses shall be inserted, namely:

(x) furnish particulars of amount paid or credited on which tax was not deducted or deducted at lower rate in view of the notification issued under sub-section (5) of section 194A.

(xi) furnish particulars of amount paid or credited on which tax was not deducted under sub-section (2A) of section 194LBA.

(xii) furnish particulars of amount paid or credited on which tax was not deducted in view of clause (a) or clause (b) of sub-section (1D) of section 197A.

(xiii) furnish particulars of amount paid or credited on which tax was not deducted in view of the exemption provided to persons referred to in Board Circular No. 3 of 2002 dated 28th June 2002 or Board Circular No. 11 of 2002 dated 22nd November 2002 or Board Circular No. 18 of 2017 dated 29th May 2017.”

Along with above amendments in rule, amendment has also been made to respective Forms. Hence if you are liable for any amendment do remember to use the latest forms.

To read full notification CLICK HERE.

 

This article is just for information purpose and are personal views of the author. It is always advisable to hire a professional for practical execution or you can mail us. If you need assistance you can ask a question to our expert and get the answer within an hour or post a comment about your views on the post and also subscribe to our newsletter for latest weekly updates.

image_pdfPDFimage_printPrint
Previous Post

Taxability of gratuitous payment by Company to employee’s family on his/ her death

Next Post

Functionality added on E-filing website to check status of last 3 years ITR as per section 194N

Related Posts

Received mail from GSTN “Aggregate turnover being more than Rs. 5 Cr during FY 2019-20” What does this mean?
Income Tax News

Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?

July 2, 2025
Tatva Chintan Pharma Chem Limited IPO details and capital gain tax on selling IPO allotment | Capital gain on IPO
Case Laws

ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]

May 2, 2025
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?

April 1, 2025
Received mail from GSTN “Aggregate turnover being more than Rs. 5 Cr during FY 2019-20” What does this mean?
Income Tax News

Assessee receiving message for 80GGC donation for AY 2022-23 from Income tax department

January 29, 2025
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

Guidance note 2 issued for Vivad se vishwas Scheme, 2024 [Read circular]

January 1, 2025
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

Due date extended for filing belated, revised return and Vivad se vishwas declaration

December 31, 2024
Next Post
Functionality added on E-filing website to check status of last 3 years ITR as per section 194N

Functionality added on E-filing website to check status of last 3 years ITR as per section 194N

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Google Custom search

Recent Posts

  • Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?
  • Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws
  • Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
  • ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
  • Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws

Recent Comments

  • Brendan Gleeson on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • Kovac Ryker on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • Hailey Bradwell on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • ADMIN on Submit response to confirm/ revise the refund claim – Why are you getting this mail and how to get refund
  • Dinesha B S on Submit response to confirm/ revise the refund claim – Why are you getting this mail and how to get refund

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Browse Topics by Date

July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Jun    
  • GSTR 9/ 9C extended : AGAIN

    GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning

    6537 shares
    Share 2615 Tweet 1634
  • How to pay Membership and COP fees of ICAI for 2020-21 |

    6444 shares
    Share 2578 Tweet 1611
  • Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods

    5912 shares
    Share 2365 Tweet 1478
  • Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020

    4855 shares
    Share 1942 Tweet 1214
  • SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type

    4085 shares
    Share 1634 Tweet 1021

Recent Notification

Received mail from GSTN “Aggregate turnover being more than Rs. 5 Cr during FY 2019-20” What does this mean?

Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?

July 2, 2025
Compliance due dates for June, 2020 | Compliance calendar for June, 2020 | 20+ compliances

Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws

June 5, 2025

RSS Taxontips

  • Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?
  • Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws
  • Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
  • ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
  • Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
  • No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
  • Statutory Audit of Cash and Cash Equivalents in Indian Companies [Company Law]
  • Statutory Audit of Trade Receivables in Indian Companies [Company law]
  • Statutory Compliance Calendar for February 2025 | Income tax, GST and various other laws
  • Budget 2025 updates | Income tax and GST updates

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Site menu

  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Taxontips

TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

No Result
View All Result
  • Login/Signup
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • About us
  • Contact us
  • Ask an expert/ Talk to an expert
  • Q & A
  • Privacy Policy
  • Terms of use

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

Book Phone consultation with expert

Sitting home or at your office and don't have time to visit CA's office or don't know where to consult CA. Book your consultation with an expert practicing Chartered Accountant and get your query solved.

Book a phone consultation for 30 minutes with our expert at a very basic cost.

Book consultation

No thanks, I'm not interested!