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Due Dates to deposit TDS & Late Filing Penalty

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Hiral Vakil

TDS
TDS Due Date
Last updated on July 14th, 2021

The deductors/payers need to deduct TDS from a specific type of payment. Hence they need to keep in mind following TDS Return Due Dates:

  1. TDS Deposit Due Dates
  2. TDS Return Filing Due Dates

Due Dates to deposit TDS

Month End of Quarter TDS Payments Due Date – Government  The TDS Payments Due Date – Non- Government  TDS Return Filing Due Date 
January 31st March 7th February 7th February 31st May

31st July – Q4 ending March 2020

February 31st March 7th March 7th March 31st May

31st July – Q4 ending March 2020

March 31st March 7th April 30th April 31st May

31st July – Q4 ending March 2020

April 30th June 7th May 7th May 31st March 2021
May 30th June 7th June 7th June 31st March 2021
June 30th June 7th July 7th July 31st March 2021
July 30th September 7th August 7th August 31st March 2021
August 30th September 7th September  7th September  31st March 2021
September 30th September 7th October 7th October 31st March 2021
October 31st December 7th November 7th November 31st Jan
November 31st December 7th December 7th December 31st Jan
December 31st December 7th January 7th January 31st Jan

Due Dates for Filing TDS Return

Quarter Months Due Dates
Q1 April – June 31 March 2021
Q2 July – September 31 March 2021
Q3 October – December 31 January 2021
Q4 January – March 31 May 2021

In case of the sums deducted by an office of the government without challan should deposit the same on the day of deduction.

Income Tax Calendar
Don't miss another Income Tax due date. Check out this amazing tax calendar for 2020 by Quicko.
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Income Tax Calendar
Don't miss another Income Tax due date. Check out this amazing tax calendar for 2020 by Quicko.
Explore

Due Dates for TDS Return for Q1 of FY 2020-21

Amid the Corona Virus pandemic, the Income Tax Department has issued a statement to clarify that the TDS Return due date for Q1 and Q2 for FY 2020-21 is 31st of March, 2021. Hence, the revised due dates as per the CPC Income Tax for Q1 and Q2 for FY 2020-21 are as per the below table:

Nature of Compliance Original Due Date New Due Dates
Form 24Q, 26Q, 27Q and 27EQ of Q4 of FY 2019-20 31st May, 2020 31st July, 2020
Form 24Q, 26Q, 27Q and 27EQ of Q1 and Q2 of FY 2020-21 As per rule 31A/31AA 31st March, 2021
Form 26QB, 26QC, and 26QD of February 2020 30th March, 2020 31st July, 2020
Form 26QB, 26QC, and 26QD of March 2020 30th April, 2020 31st July, 2020
Form 26QB, 26QC, and 26QD of April to November 2020 30 days from end of month in which tax is deducted 31st March, 2021
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Talk to an expert via call, whatsapp or message. Ask questions about TDS Deduction, TDS Return Filing and Compliance.
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Penalties for Late Deposit and Late Filing of TDS Return?

Following are the penalties applicable in case one have not deposited TDS on or before the due date or have not filed the TDS Return in time:

TDS Return Late Filing Fee

Taxpayers who do not file the TDS return on or before the due date will have to pay a fine of INR 200 per day under section 234E per day until they file the return. Provided that the fine amount shall not exceed the amount of TDS taxpayer needs to pay.

Example

Mr. A who is an employer forgot to pay TDS of INR 8,500 on 15th July. And he paid the same on 21st December. Hence, Late filing fees will be equal to INR 31,800 (159 Days* INR 200) or INR 8,500 whichever is less.

Scenario Interest subject to TDS/TCS amount Period for which interest is to be paid
When TDS is not deducted
1% per month or part thereof From the date on which TDS is deductible to the date on which TDS is actually deducted
When TDS is deducted but payment is made lately 1.5% per month or part thereof From the date on which TDS is actually deducted to the date on which such TDS is actually paid

In case your TDS payable is INR 10,000 and the date of deduction of TDS is 20th April and you pay the TDS on 7th July.

Interest u/s 201(1A)= INR 10,000 * 1.5%p.m. * 4 months INR 600

Points to be keep in mind while calculating Interest:

Penalty for Late Filing of TDS Return

  1. The TDS/TCS is paid to the credit of the Government.
  2. Late filing fees and interest is paid to the credit of the government.
  3. The TDS/TCS return is filed before the expiry of a period of one year from the due date specified.

FAQs

What if deductors fail to deposit to fail the TDS to Income-tax Department?

In case your employer has not deposited TDS to the Income Tax Department, it will not be reflected in your Form 26AS. Hence the option of taking a tax credit of the TDS while filing your income tax return isn’t available.

How is TDS on FD calculated?

If your interest amount is in excess of INR 10,000, a 10% TDS is calculated on that amount for AY 2019-2020. If PAN Card is not provided to the bank, a TDS of 20% on Fixed Deposits is levied.

What is the TDS limit for Senior Citizens?

For Senior Citizens aged above 60, TDS will only be deducted if the interest income exceeds INR 50,000 in a given financial year.

Got Questions? Ask Away!

  1. Hey @Joe_Fernandes ,

    Thank you for reaching out to us!

    You need to keep in mind following dates for TDS Return filing:

    Penalty Under Section 234E is levied in case you miss out on filling TDS return on time. The penalty of INR 200 per day is levied on the taxpayer till the day on which return is filed. Provided that the amount of Penalty should not exceed the number of TDS payable.

    Hope this helps!