CA Final · Direct Tax Laws & International Taxation · Basic Concepts
Sharma Traders Ltd collected tax at source under section 394(1) from a buyer during a tax year. Under Rule 215 of the Income-tax Rules, 2026, which Form and due date apply to the certificate of collection?
The certificate for tax collected under section 394(1) is in Form No. 133 and must be furnished within fifteen days from the due date for furnishing the statement of tax collected at source under rule 219, as stated in Rule 215 of the Income-tax Rules, 2026.
- AForm No. 131, within fifteen days from the due date for furnishing the statement of tax collected at source
- BForm No. 133, within fifteen days from the due date for furnishing the statement of tax collected at source under rule 219Correct
- CForm No. 133, by 15th June of the following financial year
- DForm No. 130, within fifteen days from the due date for furnishing challan-cum-statement in Form No. 141
Explanation
Sl. No. 4 of the table in Rule 215(1) covers collection under section 394(1), with Form No. 133. It must be furnished within fifteen days from the due date for furnishing the statement of tax collected at source under rule 219. Form 131 is for deductions under section 392(7) and 393 items, so option A is wrong, and 15th June is for Form 130.
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