Income Tax Department had amended the rules relating the Payment of TDS /TCS vide Notification No.31/2009 dated 25.3.2009 making it mandatory for all to deposit the such taxes through E-payment only from 01.04.2009 onwards. Further, the challan to deposit the TDS /TCS is also changed by introducing a New Challan number 17 through online mode only. The most important amendment in challan form is that now with each challan, deductor has to give deductee detail also.
In a Press Release dtd. 11-May-09, the Central Board of Direct Taxes have decided to defer the implementation of Notification No.31/2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the Income Tax Rules, 1962.
The amended / substituted Rules will now come into effect on 1st July 2009 instead of 1st April 2009.
Tax deductors / collectors may continue to deposit TDS / TCS tax and file TDS / TCS returns as per the pre-amended provisions in the interim period.