Rule – 37B, Returns regarding tax deducted at source on computer media under sub-section (2) of section 206

Published by Law@HostBooks at Last Updated on August 9th, 2018 at 4:23 pm Published on March 21, 2018

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37B. (1) Where a person responsible for deducting tax under Chapter XVII-B is required to file any return or statement referred to in rule 37 or rule 37A on a computer media, he shall deliver or cause to be delivered such return or statement in accordance with such scheme²⁵ as may be specified by the Board in this behalf within the time specified under rule 37 or rule 37A, as the case may be.

(2) The return or statement filed on a computer media shall contain all the information required under rule 37 or rule 37A, as the case may be.

(3) The return or statement filed on computer media shall be accompanied by Form No. 27A furnishing the information specified therein.

Reference: www.incometaxindia.gov.in

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2 Comments

sanjay says:

May 16, 2020 at 10:30 am

IS this rule applicable for TDS on sale of property where there is one benificial owner but property was in joint name
Arpita Bora says:

May 18, 2020 at 2:33 pm

– If there is single transaction exist with one registry document for two or more co-owners (purchasers) and sales consideration amount exceeds Rs. 50 lakh then tax is required to be deducted under section 194-IA otherwise not. However if, there is separate registry document for each owner (purchaser) and sales consideration amount exceeds Rs. 50 lakh by any of such owners then tax is required to be deducted under section 194IA by such owner otherwise not.

– Rule 37B is applicable for the sections given in Rule 37 or 37A. However, Section 194-IA is applicable in case of TDS on purchase of immovable property (where sale consideration exceeds Rs. 50 Lakh) and this section is not given in Rule 37 or 37A, So there is no applicability of Rule 37B in the given case. For further details about which section is covered in Rule 37, please refer the below link:

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