CBDT vide circular no. 31 of 2019 Dt. 19.12.2019 has extended the due date for paying TDS deducted u/s 194M of the Income Tax act.
In the said circular it was mentioned that the date for furnishing Form 26QD u/s 194M for the month of September and October has been extended to 31.12.2019 and consequently due date for furnishing certificate in Form 16D is extended to 15.01.2020. The basic reason behind this step was that complete system to process the above transaction was not in place.
Earlier, vide notification Dt. 18.11.2019 CBDT had notified Form 26QD for section 194M.
Section 194M speaks about TDS on services covered under 194C, 194H and 194J if same has been used for personal purpose and during the year one has paid amount exceeding Rs. 50 lakh for any such service to one person.
circular_31_2019
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.
