What are the duties of the person deducting tax at source?

• He shall deduct the tax at source at the applicable rate. • He shall pay the tax deducted by him at source to the credit of the Government (by the due date specified in this regard*).

Hie Jaggu, Following are the basic duties of the person who is liable to deduct tax at source. • He shall obtain Tax Deduction Account Number and quote the same in all the documents pertaining to TDS. • He shall deduct the tax at source at the applicable rate. • He shall pay the tax deducted by him at source to the credit of the Government (by the due date specified in this regard*). • He shall file the periodic TDS statements, i.e., TDS return (by the due date specified in this regard*). • He shall issue the TDS certificate to the payee in respect of tax deducted by him (by the due date specified in this regard*). *Refer tax calendar for the due dates.

Following are the basic duties of the person who is liable to deduct tax at source. • He shall obtain Tax Deduction Account Number and quote the same in all the documents pertaining to TDS. • He shall deduct the tax at source at the applicable rate. • He shall pay the tax deducted by him at source to the credit of the Government (by the due date specified in this regard*). • He shall file the periodic TDS statements, i.e., TDS return (by the due date specified in this regard*). • He shall issue the TDS certificate to the payee in respect of tax deducted by him (by the due date specified in this regard*). *Refer tax calendar for the due dates.

Dear Friend, as far as your query is concerned that What are the duties of the person deducting tax at source? Let me informed the Duties of person deducting tax at source Deduct Tax at Correct Rate and deposit in Government Account – Sec 200 Every person responsible for deducting tax at source shall at the time of payment or credit of income, whichever is earlier, verify whether the payment being made is to be subject to deduction of tax at source. If it is so, he must deduct such tax as per the prescribed rates. Further he is required to deposit such tax deducted in the Central Government Account within the prescribed time as specified in Rule 30. Issue a TDS certificate Further, such person is required to issue a certificate of tax deduction at source u/s 203 to the person from whose income the TDS has been done, in the prescribed proforma i.e. Form No.16A within prescribed time(as discussed earlier). File Prescribed Return/Quarterly Statement A return of TDS is a comprehensive statement containing details of payments made and taxes deducted thereon along with other prescribed details. For deductions made prior to 01.04.2005 earlier every deductor was required as per the provisions of Section 206 (read with Rule 36A and 37) to prepare and deliver an annual return, of tax deducted at source. However w.e.f. 01.04.2005 there is no requirement to file annual returns and instead Quarterly statements of TDS are to be submitted in form 26Q by the deductors. Hope answer was helpful to you Regards, Arjun Pratap Singh