Ahead of Thursday?s deadline for filing the first round of tax deduction at source (TDS) in the new Form 17, accounting regulator Institute of Chartered Accountants of India (ICAI) has asked the Central Board of Direct Taxes (CBDT) to clarify whether remittances can be made using the old challan 281.
The move comes as the CBDT is yet to issue Form 17 and the earlier challan 281 is the only available form for filing TDS returns. The board last month had amended the rules relating to the payment of tax deduction at source (TDS) and had made it mandatory for all to deposit taxes online using the new Form 17 as a certificate of tax deduction and tax collection at source, and replace the earlier forms 16, 16A and 16AAA.
According to ICAI, the new form is yet to be uploaded on the payment gateway of the income tax website. Uttam Prakash Agarwal, president, ICAI said, ?It is clear how the remittances have to be made by May 7 in new Form 17, as it has still not been uploaded on the payment gateway on the income tax department?s website. Only the old challan 281 is available on the site.?
A CBDT official said that the department will come out with a clarification soon. However, finance ministry sources said that the form has not been uploaded on the website as the department is considering on removing the form altogether.
Last month, the Central Board of Direct Taxes amended the income tax rules relating to time, mode of payment of tax deduction and collection at source. The rules, which come into effect from April this year, require a person responsible for deducting or collecting tax at source, to file returns online and furnish an income-tax challan in new form 17 within the specified time.
