IT amends the TDS Circular 6/2004 dated 6.12.2004 - DDOs please note.
The amendment stipulates that:-
- TDS on non monetary perks to be made within a week from the last day of month in which deduction is made."
- The relevant challan for making payment of tax deducted at source from Salaries is challan No. ITNS-281
- Interest free or concessional rate of interest loans to employees will attract perks as difference between the interest charged and the interest rates of SBI for general public. Small loans up to Rs. 20,000/- are exempted.
CORRIGENDUM Dated : January 25, 2005 in F.No. (B)