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Due date for Payment of TDS and TDS Return

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TDS have to be deposit through “Challan No. ITNS 281” before the due date, It can be deposited online or manually-

Due date for Payment of TDS and TDS Return
Month of Deduction Due date for Payment of TDS (Govt. Deductor) Due date for Payment of TDS (Other Deductor) Quarter ending Due date for filling of return of form 24Q, 26Q & 27Q Due date for filling of return of form 27EQ
April 7th of May 7th of May   Apr - Jun   31st Jul   15th Jul
May 7th Jun. 7th Jun.
June 7th of Jul. 7th of Jul.
July 7th of Aug. 7th of Aug.   Jul - Sep.   31st Oct   15th Oct
August 7th of Sept. 7th of Sept.
September 7th of Oct. 7th of Oct.
October 7th of Nov. 7th of Nov.   Oct - Dec   31st Jan   15th Jan
November 7th of Dec. 7th of Dec.
December 7th of Jan. 7th of Jan.
January 7th of Feb. 7th of Feb.   Jan - Mar   31ST May   15th May
February 7th of Mar. 7th of Mar.
March 7th of Apr. 7th of Apr.
Book Entry on 31st March 7th of Apr. 30th of Apr.

Note-

TDS is to be paid by 7th of the following month. For month of March the last date of deposit is 30th April. The due date for payment in case of TDS on sale of immovable property under section 194IA is 30 days from the end of the month including the month of March.
 

TDS Return Form

Form No. Particulars
Form 24Q Statement of TDS deducted from Salaries
Form 26Q Statement of TDS deducted on all payments other than Salaries
Form 27Q Statement of TDS deducted from Interest, Dividend or any other sum paid to Non Resident
Form 27EQ Statement of collection of tax at source
 
The Quarterly statement generated and fuv. File along with singed Form 27A at NSDL Centre to upload the return, Form 27A contains the full details of deductor, Address, TAN Number, No. of Transaction in form, Amount paid on which TDS deducted, amount of TDS deducted and paid etc.

Interest charged under section 201-A- The interest amount will be calculated on monthly basis not day to day basis, part of month will be calculated as full month.
  1. Non Deduction of TDS- 1% per month from the date on which TDS was due till the date it was deposited.
  2. TDS deducted but not deposited- 1.50% per month from the date of deduction till the date it was deposited.
Example1.
If you have fail to deducted TDS of Rs. 10,000 on 05.07.2017 but deducted on 12.10.2017 and deposited on same day, you have to pay interest of 4 months @ 1% i.e. comes to Rs. 400/- for non deduction of TDS.

Example2.
If you have deducted TDS of Rs. 10,000 on 05.07.2017 and deposited on 12.10.2017, you have to pay interest of 4 months @ 1.50% i.e. comes to Rs. 600/- due to not deposited in time.

Penalty for Delay or Non filling of TDS Return-
  1. Late filing Fees- Under Section 234E, an Assessee has to pay Rs. 200 per day for late filling of return till the date return has not been submitted. The penalty should not exceed the total amount of TDS.
  2. Non Filling Fees- Under Section 271H, an Assessee has not filled return within one year from the due date or incorrect filling of TDS return, the penalty should not be less than 10,000 or more than Rs. 1,00,000.
Example-
If the amount of TDS payable is Rs 4,000 on 18 June and he paid it on 08 October and filed the return on same day.
Then according to the rule of Income tax, the total amount comes to Rs. 200 x 69 days (1st August to 8th October i.e. 69 days) = Rs 13,800, but the amount cannot be exceed the amount of TDS. So, you have to pay only Rs 4,000 as the late filing fee. In addition with this, you also have to pay interest @ 1% per month for 5 months i.e. Rs. 200/-.

Revision of TDS Return- In case of any error found in TDS return after filling at NSDL centre, a correction statement can be filled any time. There is no any restriction to revise the return.
Notes:- The following points should be kept in mind-
  • TDS Should be deposited before the due date of payment to avoid interest etc.
  • Pan number should be check before filling the TDS return.
  • TDS return should be filed before the due date on quarterly basis.
  • If an assessee submits a certificate for non deduction or lower rate issued by income tax department, then the TDS will be deducted at a lower rate as prescribed in certificate.
  • TDS should be deducted on basic amount before the amount of Tax
See the related post: TDS rate chart



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