Time and mode of payment to Government account of tax deducted or collected at source or tax paid under section 392(2)(a)

Time and mode of payment to Government account of tax deducted or collected at source or tax paid under section 392(2)(a).

218. (1) All sums deducted or collected under the provisions of Chapter XIX-B of the Act or construed as deductible under section 392(2), by an office of the Government, shall be paid to the credit of the Central Government—

(a) on the same day, where the tax is paid without production of an income-tax challan; and

(b) on or before seven days from the end of the month in which the deduction or collection is made or income-tax is due under section 392(2)(a), where tax is paid accompanied by an income-tax challan.

(2) All sums deducted or collected under the provisions of Chapter XIX-B of the Act by deductors or collectors or construed as deductible under section 392(2), as the case may be, other than an office of the Government, shall be paid to the credit of the Central Government—

(a) on or before 30th April, where the income or amount is credited or paid, or debited or received in the month of March; and

(b) in any other case, on or before seven days from the end of the month in which—

(i) the deduction or collection is made; or

(ii) income-tax is due under section 392(2)(a).

(3) Irrespective of anything contained in sub-rules (1) and (2), where any sum is deducted under section 393(1) in respect of following nature of income or sum,—

(a) any income by way of rent (section 393(1) [Table: Sl. No. (2)(i)]); or

(b) any consideration for transfer of any immovable property (other than agricultural land) (section 393(1) [Table: Sl. No. (3)(i)]); or

(c) any sum–

(i) for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract; or

(ii) by way of fees for professional services; or

(iii) by way of commission [not being insurance commission referred to in section 393(1) [Table: Sl. No. (1)(i)]] or brokerage, section 393(1) [Table: Sl. No. (6)(ii)];

(d) any sum by way of consideration for transfer of a virtual digital asset (section 393(1) [Table: Sl. No. (8)(vi)]);

the payment of such sum to the credit of the Central Government, shall be made within a period of thirty days from the end of the month in which the deduction is made and shall be accompanied by a challan- cum -statement in Form No. 141.

(4) Irrespective of anything contained in sub-rule (2), in special cases, the Assessing Officer may, with the prior approval of the Joint Commissioner of Income-tax, permit quarterly payment of the tax deducted under section 392(1) or 393(1) [Table: Sl. Nos. (1)(i) and (ii), and 5(ii) and (iii)] for the quarters of the tax year specified to in column B of the following Table by the date referred to in column C of thereof:

TABLE

Sl. No. Date for quarterly payment

A C

1. 7th July.

2. 7th October.

3. 7th January.

4. 30th April.

(5) In the case of an office of the Government, where tax has been paid to the credit of the Central Government without the production of a challan,—

(a) the Pay and Accounts Officer or the District Treasury Officer or the Cheque Drawing and Disbursing Officer or any other person, by whatever name called, to whom the deductor or collector reports the tax so deducted or collected and who is responsible for crediting such sum to the credit of the Central Government, shall submit a statement in Form No. 137; and

(b) such statement shall be submitted to the Director General of Income-tax (Systems) or any other person authorised by him.

(6) Statement referred to in sub-rule (5) shall be furnished—

(a) on or before the 30th April, where the statement relates to the month of March; and

(b) in any other case, on or before fifteen days from the end of relevant month.

(7) The persons referred to in sub-rule (5), shall intimate the number (herein referred to as the Book Identification Number), generated by the Director General of Income-tax (Systems), or any other person authorised by him, to each of the deductors or collectors in respect of whom the sum deducted or collected has been credited.

(8) The persons referred to in sub-rule (5), shall––

(a) obtain an Account Office Identification Number (AIN) for filing Form No. 137;

(b) file Form 136 for obtaining Account Office Identification Number (AIN);

(9) Where tax is to be deposited along with an income-tax challan, it shall be remitted into any branch of the Reserve Bank of India or of the State Bank of India or of any authorised bank.

(10) Where tax is to be deposited along with an income-tax challan by persons referred to in rule 333 or where tax is to be deposited along with by an income-tax challan- cum -statement in accordance with sub-rule (3), it shall be remitted electronically into the Reserve Bank of India or the State Bank of India or any authorised bank.

(11) The Director General of Income-tax (Systems), shall specify the procedure, formats and standards for the purposes of remitting the amount electronically to the Reserve Bank of India or the State Bank of India or any authorised bank, and shall be responsible for the day-to-day administration in relation to the remitting of the amount electronically in the manner so specified.