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CBDT notifies challan-cum-statement Form 26QE for payment of tax deducted on VDAs

 Warning No. 67/2022, dated 21-06-2022

The Focal Leading body of Direct Charges (CBDT) has advised Personal duty (19th Amendment) Rules, 2022 revising the Annual assessment Rules, 1962 to integrate changes presented by the Money Act, 2022 connected with TDS.

The Board has revised existing Standards 30, 31 and 31A, annexure to Shape No. 26Q, and Structure Nos. 26QB, 26QC and 26QD. The board has additionally embedded new Structure nos. 26QE and 16E also.

The key changes presented by the CBDT vide Annual duty (nineteenth Amendment) Rules, 2022 have been explained underneath:

1. Charge deducted on VDA to be kept in challan-cum-articulation in Structure 26QE

Another sub-rule (2D) has been embedded in Rule 30 which accommodates installment of expense deducted at source (TDS) under area 194S.

Segment 194S gives that any individual, liable for paying to an inhabitant any total via thought for the exchange of a virtual computerized resource (VDA), will deduct charge at the pace of 1% of such aggregate.

Sub-rule (2D) gives that duty deducted under segment 194S will be paid to credit of the Focal Government in somewhere around 30 days from the month's end in which the derivation is made. Such installment will be made by a challan-cum-explanation in Structure 26QE electronically.

2. Separate announcing of assessment installments made as per Stipulations to Areas 194B, 194R and 194S

Stipulation to segment 194B gives that assuming rewards in Lottery or Crossword Riddles are mostly in real money and halfway in kind and the money part isn't adequate to settle the material expenses, the individual answerable for paying such winning will deliver the triumphant solely after installment of pertinent charges to the credit of Focal Government.

Comparative arrangements are consolidated in the arrangements of segment 194R(1) and segment 194S(1).

The Board has revised the Annexure to Shape 26Q which looks for deductee /payee wise separation of TDS. In the event that wherein the stipulation of Segment 194B, 194R and 194S are relevant, the annexure looks for the accompanying extra subtleties from the deductor

3. Endorsement of assessment deducted at source on VDA to be given in Structure 16E

Another sub-rule (3D) has been embedded in Rule 31 which accommodates outfitting of authentication of derivation of duty at source under area 194S.

An individual liable for derivation of duty under segment 194S will outfit the declaration of allowance of expense at source in Structure 16E to the payee in the span of 15 days from the due date for outfitting the challan-cum-explanation in Structure 26QE.

Measure of duty saved;

BSR Code of bank;

Date of installment; and

Challan chronic number.


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