Time Limit to Deposit TDS and to file TDS Return

As per Income Tax Act, 1961 every person or company making some payment of specified nature, is required to deduct TDS at specified rates. After that, the same needs to be deposited, and the return of TDS is required to be filed before the due date. Here in this post, we are discussing the TDS due date for payment and the TDS due date for filing of return.

TDS Due Date For Payment

The due dates for payment of TDS are the 7th of next month in which TDS is deducted/credited and for the month of March, it is 30th April. For easy considerations of the viewer, here is the tabulated chart of TDS Due Date for Payment.

PeriodQuarterTDS Due Date For Payment
April1st Quarter07th May
May1st Quarter07th June
June1st Quarter07th July
July2nd Quarter07th August
August2nd Quarter07th September
September2nd Quarter07th October
October3rd Quarter07th November
November3rd Quarter07th December
December3rd Quarter07th January
January4th Quarter07th February
February 4th Quarter07th March
March4th Quarter30th April

Also Read- Know the Interest penalties for late payment of TDS and late filing of TDS return

TDS Due Date For Return Filing

TDS due dates for return filling- In the above table, we show that the payment of TDS is made monthly although the return of TDS is filed quarterly. The due dates for return filing of TDS are the last date of the month after quarter-end, and for the last quarter, the due date is 31st May. For easy considerations of the viewer, here is the tabulated chart showing the TDS due date for return filing.

QuarterMonthTDS Due Date For Return Filing
1st QuarterApril-June31st July
2nd QuarterJuly-September31st October
3rd QuarterOctober-December31st January
4th QuarterJanuary-March31st May

Fees/Interest/Penalties of TDS Payment and Return

Non Deduction of TDS (either in whole or in part)- If tax is required to be deducted and not deducted by the deductor then the interest rate is 1% per month (12% per annum) from the date on which tax was deductible to the date on which it is actually deducted.

Non-payment of TDS (either in whole or in part)- If tax is deducted but not paid by the deductor then the interest rate is 1.5% per month (18% per annum) from the date on which TDS is required to be deducted till the date of actual payment of TDS.

A person who fails to file a TDS return on or before the due date as prescribed then he shall be liable to pay a sum of late fees as prescribes under section 234E and/or he may also be liable to pay a penalty as prescribed under section 271H.

Late filing fees- As per section 234E, where a person fails to file a TDS return on or before the due date then he shall be liable to pay, by way of fee, a sum of Rs. 200 for every day during which the failure continues.

Note:- The amount of late fee will be subject to the maximum amount of TDS.

Penalty under section 271H- Under Income Tax Act, 1961 section 271H prescribes a penalty for two types of default. one is for a person who fails to furnish the TDS return within the prescribed time and the second one is for the person who furnishes incorrect information while filling the TDS return.

As per section 271H, The defaulter would be liable to pay a minimum penalty of Rs. 10,000, however, the maximum amount of this penalty may be extended to Rs. 1,00,000.

Note:- This penalty is in addition to the penalty under section 234E.

Frequently Asked Question- FAQs

  1. What is the TDS due date for payment every month?

    The TDS due date for payment of every month is the 7th of next month in which TDS is deducted/credited and for the month of March, it is 30th April.

  2. What is the TDS due date for payment for March 2020?

    Normally, the due dates for payment of TDS are the 7th of next month in which TDS is deducted/credited and for the month of March 2020, there is no change for the due date and it is 30th April.

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Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)

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