Mandatory online issuing of form 16A will force deductors to revise their TDS returns

0 comments Monday, May 23, 2011

CBDT by a recent circular No 3/2011 [F. NO. 275/34/2011-(IT-B), DATED 13-5-2011
has made it compulsory for the Banking and other companies to issue form 16A for TDS w.e.f 01-04-2011 by downloading it from the TIN website online so as to eliminate the mis-matches in the form 26AS and the form 16A, which will facilitate the refund process.

Earlier before the issue of said circular the deductee could not force the deductor to revise his TDS return if there was any mismatch between their 26AS and Form 16A. It is to be noted that issuing of Form 16A to the deductee is mandatory for every deductor under Rule 31(3) of Income Tax Rules.
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Section 9(2B) of CST Act is applicable retrospectively

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Section 9(2B) of Central Sales Tax Act 1956 provides for interest on delayed payment of CST as per the general sales tax law of the State concerned. This provision was added we.f 12-05-2000 by section 120 of the Finance act 2000, Prior to it there was no such provision for levy of interest under CST Act.

The Punjab & Haryana High Court has held in State of Haryana v Giriraj Metal and Ferro Alloys (2011) 39 PHT 101 (P&H) that the said provision u/s 9(2B) will be applicable with retrospective effect i.e w.e.f 05-01-1957(from the date of CST Act) following the decision of Supreme Court in case of Indodan
Industries Limited v. State of UP and others, 2010(27) Vat and Service Tax Cases 1

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