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10
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 3rd July, 2020
INCOME-TAX
G.S.R. 429(E).— In exercise of the powers conferred by sections 194A, 194J, 194K, 194LBA, 194N, 194-O, 197A and 200 read with section 295 of the Income-tax Act,
1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. Short title and commencement.–– (1) These rules may be called the Income-tax (16th Amendment) Rules, 2020.
(2) Save as otherwise provided in these rules, they shall come into force from the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 31A, in sub-rule (4), --
(a)
in clause (viii), after the words “not deducted”, the words “or deducted at lower rate” shall be inserted;
(b)
for clause (ix) the following shall be substituted from the 1st day of July, 2020, namely:-
“(ix) furnish particulars of amount paid or credited on which tax was not deducted or deducted at lower rate in view of the notification issued under second proviso to section 194N
or in view of the exemption provided in third proviso to section 194N or in view of the notification issued under fourth proviso to section 194N”;
(c) after clause (ix), the following clauses shall be inserted, namely:--
“(x) furnish particulars of amount paid or credited on which tax was not deducted or deducted at lower rate in view of the notification issued under sub-section (5) of section 194A.
(xi) furnish particulars of amount paid or credited on which tax was not deducted under sub-section (2A) of section 194LBA.
(xii) furnish particulars of amount paid or credited on which tax was not deducted in view of clause (a) or clause (b) of sub-section (1D) of section 197A.
(xiii) furnish particulars of amount paid or credited on which tax was not deducted in view of the exemption provided to persons referred to in Board Circular No. 3 of 2002 dated
28th June 2002 or Board Circular No. 11 of 2002 dated 22nd November 2002 or Board Circular No. 18 of 2017 dated 29th May 2017.”
3. In the principal rules, in Appendix II,
(I) in form 26Q –
(a) for the brackets, words, figures and letters
“[See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194-I, 194J, 194LA, 194LBA, 194LBB, 194LBC, 194N and rule 31A]”
the following brackets, words, figures and letters
“[See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194-I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O,
197A and rule 31A]” shall be substituted;
[भाग II—खण्ड 3(i)]
भारतकाराजपत्र:असाधारण
11
(b) for the “Annexure”, the following “Annexure” shall be substituted, namely :-
“[ANNEXURE: DEDUCTEE/PAYEE WISE BREAK UP OF TDS
(Please use separate Annexure for each line-item in Table at Sl. No. 4 of main Form 26Q)
Details of amount paid/credited during the quarter ended……….. (dd/mm/yyyy) and of tax deducted at source
BSR Code of branch/Receipt Number of Form No. 24G
Name of the Deductor/Payer
Date on which challan deposited/Transfer voucher date (dd/mm/yyyy)
TAN
Challan Serial Number / DDO Serial No. of Form No. 24G
Amount as per Challan
Total tax to be allocated among deductees/payees as in the vertical total of Col. 421
Total interest to be allocated among the deductees/payees mentioned below
Sl.
No.
Deductee /payee
reference
number
provided by the
deductor/payer,
if
available
Deductee/
payee
code
(01-Company
02-Other than
company)
PAN of
the
deductee/
payee
Name of
the
deductee/
payee
Section
code
(See
Note
12)
Date of
payment
or credit
(dd/mm/
yyyy)
Amount
paid or
credited
Amount of
cash
withdrawal
in
excess of Rs.
1
crore as
referred to in
section 194N
(in cases not
covered by
the first
proviso to
section
194N)
Amount of
cash
withdrawal
which is in
excess of
Rs. 20
lakhs but
does not
exceed Rs.
1 crore for
cases
covered by
sub-clause
(a) of
clause (ii)
of first
proviso to
section
194N
Amount of
cash
withdrawal
which is in
excess of
Rs. 1 crore
for cases
covered by
sub-clause
(b) of
clause (ii)
of first
proviso to
section
194N
Total
tax
deducted
Total tax
deposited
Date of
deduction
(dd/mm/yyyy)
Rate at
which
deducted
Reason for
non-deduction/
lower deduction/
Higher Deduction/
Threshold/
Transporter etc.
(See notes 1 to 11)
Number of the
certificate under
section 197 issued
by the Assessing
Officer for
non-deduction/
lower deduction
[412]
[413]
[414]
[415]
[416]
[417]
[418]
[419]
[419A]
[419B]
[419C]
[420]
[421]
[422]
[423]
[424]
[425]
1
2
3
Total
12
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
Verification
I, ........................................................................... , hereby certify that all the particulars furnished above are correct and complete.
Place: …………………..
…………………………………………..
Signature of the person responsible for deducting tax at source
Date: …………………..
………….………………………………..
Name and designation of the person responsible for deducting tax at source
Notes:
1.
Write "A" if "lower deduction" or "no deduction" is on account of a certificate under section 197.
2.
Write "B" if no deduction is on account of declaration under section 197A other than the cases mentioned in sub-section (1F) of section 197A.
3.
Write "C" if deduction is on higher rate on account of non-furnishing of PAN by the deductee/payee.
4.
Write “D” if no deduction or lower deduction is on account of payment made to a person or class of person on accont of notification issued under sub-section (5) of
section 194A.
5.
Write “E” if no deduction is on account of payment being made to a person referred to in Board Circular no. 3 of 2002 dated 28th June, 2002 or Board Circular no.
11 of 2002 dated 22nd November, 2002 or Board Circular no. 18 of 2017 dated 28th May, 2017.
6.
Write "Y" if no deduction is on account of payment below threshold limit specified in the Income-tax Act, 1961.
7.
Write "T" if no deduction is on account of deductee/payee being transporter. PAN of deductee/payee is mandatory [section 194C (6)].
8.
Write "Z" if no deduction or lower deduction is on account of payment being notified under section 197A (1F).
9.
Write “M” if no deduction or lower deduction is on account of notification issued under second proviso to section 194N.*
10.
Write “N” if no deduction or lower deduction is on account of payment made to a person referred to in the third proviso to section 194N or on account of
notification issued under the fourth proviso to section 194N.*
11.
Write “O” if no deduction is as per the provisions of sub-section (2A) of section 194LBA.
12.
List of section codes is as under:
Section
Nature of Payment
Section Code
192A
Payment of accumulated balance due to an employee
192A
193
Interest on securities
193
194
dividend
194
194A
Interest other than interest on securities
94A
[भाग II—खण्ड 3(i)]
भारतकाराजपत्र:असाधारण
13
194B
Winnings from lotteries and crossword puzzles
94B
194BB
Winnings from horse race
4BB
194C
Payment of contractors and sub-contractors
94C
194D
Insurance Commission
94D
194DA
Payment in respect of life insurance policy
4DA
194EE
Payments in respect of deposits under National Savings Schemes
4EE
194F
Payments on account of repurchase of Units by Mutual Funds or UTIs
94F
194G
Commission, prize etc., on sale of lottery tickets
94G
194H
Commission or Brokerage
94H
194-I(a)
Rent
4-IA
194-I (b)
Rent
4-IB
194J(a)
Fees for Technical Services(not being professional services), royalty for sale, distribution or exhibition of cinematographic
films and call centre (@2%)
94J-A
194J (b)
Fee for professional service or royalty etc. (@10%)
94J-B
194K
Income in respects of units.
94K
194LA
Payment of Compensation on acquisition of certain immovable property
4LA
194LBA(a)
Certain income in the form of interest from units of a business trust to a residential unit holder
4BA1
194LBA(b)
Certain income in the form of dividend from units of a business trust to a resident unit holder
4BA2
194LB
Income in respect of units of investment fund
LBB
194LBC
Income in respect of investment in securitization trust
LBC
194N
Payment of certain amounts in cash
94N
194N First
proviso*
Payment of certain amounts in cash to non-filers
94N-F
#194-O
Payment of certain sums by e-commerce operator to e-commerce participant
94O”
14
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
(II) in form 27Q --
(a) for the brackets, words, figures and letters
“[See sections 194E, 194LB, [194LBA, 194LBB, 194LBC], 194LC, 195, 196A, 196B, 196C, 196D, and rule 31A]”
the brackets, words, figures and letters
“[See section 194E, 194LB, [194LBA, 194LBB, 194LBC], 194LC, 194N, 195, 196A, 196B, 196C, 196D, 197A and rule 31A]” shall be substituted;
(b) for the “Annexure” the following “Annexure” shall be substituted, namely:--
“[ANNEXURE: DEDUCTEE WISE BREAK UP OF TDS]
(Please use separate Annexure for each line item in Table at Sl. No. 04 of main Form 27Q)
Details of amount paid/credited during the quarter ended (dd/mm/yyyy) and of tax deducted at source
Name of the Deductor/Payer
BSR Code of branch/Receipt Number of Form No. 24G
TAN
Date on which challan deposited/Transfer voucher date (dd/mm/yyyy)
Challan Serial Number/DDO Serial No. of Form No. 24G
Amount as per Challan
Total TDS to be allocated among deductees as in the vertical total of Col. 726
Total interest to be allocated among the deductees mentioned below
Sl.
No.
Deductee
reference
number
provided
by the
deductor,
if
available
Deductee
code (01-
Company
02-Other
than
company)
[Permanen
t Account
Number or
Aadhaar
Number]
of the
deductee
[see note
9]
Name of
the
deductee
Sectio
n code
(See
Note
8)
Date of
payment or
credit
(dd/mm/yyyy)
Amount of
cash
withdrawal
in
excess
of Rs. 1
core
as
referred to
in section
194N
(in
cases
not
covered by
the
first
proviso to
section
Amount
of
cash
withdrawal
which is in
excess
of
Rs.
20
lakhs
but
does
not
exceed Rs.
1 crore for
cases
covered by
sub-clause
(a)
of
Amount of
cash
withdrawal
which is in
excess
of
Rs. 1 crore
for
cases
covered by
sub-clause
(b)
of
clause (ii)
of
first
proviso to
section
Amount
paid or
credited
Tax
Surcharge Education
Cess
Total tax
deducted
[722+
723 +
724]
Total tax
deposited
[भाग II—खण्ड 3(i)]
भारतकाराजपत्र:असाधारण
15
194N)*
clause (ii)
of
first
proviso to
section
194N*
194N
*
[714] [715]
[716]
[717]
[718]
[719]
[720]
[720A]
[720B]
[720C]
[721]
[722]
[723]
[724]
[725]
[726]
1
2
3
Total
Date of
deduction
(dd/mm/yyyy)
Rate at
which
deducted
Reason for
non-
deduction/
lower
deduction/
grossing up/
Higher
Deduction (See
notes 1
to 3)
Number of
the
certificate
issued by
the
Assessing
Officer for
non-
deduction/
lower
deduction
Whether
the rate of
TDS is as
per IT Act
(a) DTAA
(b)
Nature of
Remittance
Unique
Acknowledgement of
the corresponding
Form No. 15CA, if
available
Country to
which
remittance
is made
Email ID
of
deductee
Contact
number of
deductee
Address of
deductee in
country of
residence
Tax Identification
Number/ Unique
identification number
of deductee
[727]
[728]
[729]
[730]
[731]
[732]
[733]
[734]
735
736
737
738
1
2
3
Total
Verification
I, ............................................................................................................................. , hereby certify that all the particulars furnished above are correct and complete.
.................................................................................................... .................................
Place:
.............................. Signature of the person responsible for deducting tax at source
Date:
..................................................................................
.. ......................................................................
Name and designation of the person responsible for deducting tax at source
16
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
Notes:
1.
Write “A” if “lower deduction” or “no deduction” is on account of a certificate under section 197.
2.
Write “C” if grossing up has been done.
3.
Write “D” if deduction is on higher rate on account of non-furnishing of [Permanent Account Number or Aadhaar Number] by the deductee.
4.
Write “O” if no deduction is in view of sub-section (2A) of section 194LBA.
5.
Write “M” if no deduction or lower deduction is on account of notification issued under second provison to section 194N.*
6.
Write “N” if no deduction or lower deduction is on account of payment made to a person referred to in the third proviso to section 194N or on account of notification
issued under the fourth proviso to section 194N.*
7.
Write “G” if no deduction is in view of clause (a) or clause (b) of sub-section (1D) of section 197A.
8.
List of section codes is as under:
Section
Nature of Payment
Section Code
192A
Payment of accumulated balance due to an employee
192A
194E
Payments to non-resident Sportsmen/Sport Associations
94E
194LB
Income by way of interest from infrastructure debt fund
4LB
194LBA(a) Income referred to in section 10(23FC)(a) from units of a business trust
LBA1
194LBA (b) Income referred to in section 10(23FC)(b) from units of a business trust
LBA2
194LBA(c) Income referred to in section 10(23FCA) from units of a business trust
LBA3
194LBB
Income in respect of units of investment fund
LBB
194LBC
Income in respect of investment in securitisation trust
LBC]
194LC
Income by way of interest from Indian company
4LC
194LD
Income by way of interest on certain bonds and Government securities.
4LD
194N
Payment of certain amounts in cash
94N
[भाग II—खण्ड 3(i)]
भारतकाराजपत्र:असाधारण
17
194N First
Proviso*
Payment of certain amount in cash to non-filers.
94N-F
195
Other sums payable to a non-resident
195
196A
Income in respect of units of Non-Residents
96A
196B
Payments in respect of Units to an Offshore Fund
96B
196C
Income from Foreign Currency Bonds or shares of Indian Company payable to Non-Resident
96C
196D
Income of foreign institutional investors from securities
96D
9.
In case of deductees covered under rule 37BC, Permanent Account Number or Aadhaar Number NOT AVAILABLE” should be mentioned.”
*in relation to section 194N, the changes shall come into effect from 1st July, 2020.
#in relation to section 194-O, the changes shall come into effect from 1st October, 2020.
[Notification No. 43/2020/F. No. 370142/11/2020-TPL]
ANKIT JAIN, Under Secy. (Tax Policy and Legislation Division)
Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide number S.O. 969 (E), dated
the 26th March, 1962 and were last amended vide notification number G.S.R. 423 (E), dated 30.06.2020.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
