Feb 28, 2010
The existing provisions of section 203(3)
of the Income-tax Act dispense with the
requirement of furnishing of TDS certificates
by the deductor to the deductee on or after 1st April, 2010.
Similarly, under section 206C(5) of the Act, a collector of
tax at source will also not be required to issue tax collection
certificate to the person from whom tax has been collected on or
after 1st April, 2010.
Considering the fact that the TDS/TCS certificate
constitutes an important document for the deductee/collectee,
it is proposed that the deductor/collector will continue to furnish
TDS/TCScertificates to the deductee/collectee even after 1st April, 2010 .
These amendments are proposed to take effect
retrospectively from 1st April, 2010.
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