The Central Board of Direct Taxes on Thursday prolonged the deadline for submitting quarterly TDS assertion in Type 26Q for the June quarter by a month until November 30.
Type 26Q is used for quarterly submitting of TDS returns on funds apart from wage.
“Contemplating the difficulties in submitting of TDS assertion within the revised and up to date Type 26Q, the Central Board of Direct Taxes (CBDT) has prolonged the due date of submitting of Type 26Q for the second quarter of monetary 12 months 2022-23 from thirty first October, 2022 to thirtieth November, 2022,” CBDT mentioned in a press release.
The shape captures particulars of complete quantity paid and tax deducted on such funds through the quarter. It might embrace funds on account of curiosity on securities, dividend, winnings from lotteries and crossword puzzles, lease, curiosity apart from curiosity on securities, charges for skilled or technical companies.
AMRG & Associates Director (Company & Worldwide Tax) Om Rajpurohit mentioned taxpayers have been experiencing quite a lot of technical points not too long ago, together with challan mismatches, challan verification failures and auto changes of challans, which made it unimaginable to file a TDS return on Type 26Q.
“CBDT has acknowledged it, extending the deadline by one month and giving tax deducters a much-needed reprieve. Nevertheless, no such exemption is obtainable for TDS returns that apply to transactions involving salaries (Type 24Q) and non-residents,” Rajpurohit added.