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Form CHG-4 is likely to be revised w.e.f 25th December, 2018- MCA

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Form CHG-4 is likely to be revised on MCA21 Company Forms Download page w.e.f 25th December, 2018. Stakeholders are advised to check the latest version before filing.

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In terms of section 194A(1), The time of deduction of tax u/s 194A(1) is undisputedly time at which interest is to be credited to account of payee or when it is paid in cash/cheque or draft therefore, deduction of tax at source on interest income before close of financial year concerned as provided under section 194A(4) would not obligate assessee bank from penalty for not deducting tax at source at time of credit of said income in payee’s account – HC Allahabad

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