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

Sunrise Textiles Pvt. Ltd. paid salary to its employees and deducted tax under section 392 (other than sub-section (7)) during a tax year. Under Rule 215 of the Income-tax Rules, 2026, by which date must the employer furnish the certificate in Form No. 130 to the employees?

The certificate in Form No. 130 for salary tax deducted under section 392 (other than sub-section (7)) must be furnished by 15th June of the financial year immediately following the tax year in which the income was paid and tax deducted, as per Rule 215 of the Income-tax Rules, 2026.

  1. AWithin fifteen days from the due date for furnishing the statement of tax deducted at source
  2. BBy the 15th June of the financial year immediately following the tax year in which the income was paid and tax deductedCorrect
  3. CBy the 31st March of the tax year in which tax was deducted
  4. DWithin fifteen days from the due date for furnishing challan-cum-statement in Form No. 141

Explanation

Rule 215, Table Sl. No. 1, covers deduction or payment of tax under section 392 (other than sub-section (7)) and prescribes Form 130. It must be furnished by 15th June of the financial year immediately following the tax year of payment and deduction. The 15-days-from-statement-due-date timeline applies to Form 131 and is therefore the wrong option here.

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