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CA Final · Direct Tax Laws & International Taxation · Basic Concepts

Sunrise Textiles Ltd. paid salary to its employee Mr. Arvind Rao during a tax year and deducted tax under section 392 (other than sub-section (7)). Under Rule 215 of the Income-tax Rules, 2026, which Form must be furnished to Mr. Rao as the certificate, and by when?

The certificate is Form 130, furnished by the 15th June of the financial year immediately following the tax year in which the salary was paid and tax deducted. This is because salary deduction under section 392, other than sub-section (7), falls in the first row of the Rule 215 table.

  1. AForm 130, by the 15th June of the financial year immediately following the tax year in which the income was paid and tax deductedCorrect
  2. BForm 131, within fifteen days from the due date for furnishing the TDS statement under rule 219
  3. CForm 133, within fifteen days from the due date for furnishing the statement of tax collected at source
  4. DForm 132, within fifteen days from the due date for furnishing challan-cum-statement in Form No. 141

Explanation

Row 1 of the Rule 215 table covers deduction or payment of tax under section 392 other than sub-section (7). The prescribed form is Form 130, due by 15th June of the financial year following the tax year. Form 131 applies to other deductions such as under section 393(2) and (3), so it is wrong here.

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