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- TDS & TCS Payment Deposit Due Dates for Govt & Non-government. The due date for depositing TCS is the 7th of next month. Due dates for depositing TDS are as under
- TDS Payment Due Date for Sunday or Public Holiday. Tax deduction at source (TDS) occurs at the time of payment to the recipient, with the deducted tax being directly remitted by the payer to the government.
- Due Date of 15G/15H Form. The deadline for quarterly submission of 15G/15H declarations received by the payer starting from April 1, 2017, and the procedure for handling 15G/15H received by the payer between October 1, 2015, and March 31, 2016, has been outlined in Notification No. 09/2016 dated June 9, 2016, under F.No.DGIT(S)/CPC(TDS)/DCIT/15GH/2016-17/4539.
- Penalties on TDS/TCS Return Filing After Due Date. TDS serves the purpose of ensuring timely tax payment on behalf of the income generator rather than the entity deducting the tax.
- Forms For Filing TDS Returns
- TDS Payment Due Dates
- Penalty For Late Filing of TDS/TCS Returns
- Interest on Late Deposit of TDS
- Penalty For Late Payment Or Non-Payment of TCS
However, if tax is deducted at source under Sections 1194-IA, 194-IB and 194M the deductor shall furnish a challan-cum-statement in Form 26QB, Form 26QC and Form 26QD,respectively. The deductor should provide the challan-cum-statement within 30 days from the end of the month in which TDS is deducted. As an exception, no return is required separatel...
The dates for depositing the tax deducted at source and filing of TDS return for the financial year 2024-25 for all the deductors is shown in the below table- *For the government deductors, making the TDS via book entry (Treasury Challan) should be deposited on the same day of deduction, whereas for March month by 7th of April.
Late Filing Fee
Under Section 234E, a fee of Rs. 200 for every day would be charged for late furnishing of TDS/TCS statements from the due date of furnishing of the statements till the date of furnishing of the statements. However, the total amount of the fee cannot exceed the total amount of tax deductible/tax collectible and such fee has to be paid before delivering the TDS/TCS statements. For example: Say that you have deducted TDS of Rs 5000 on 13th May 2024 and you file the return for Q1 on 17th Novembe...
Penalty
The Assessing Officer may direct a person who fails to file the statement of TDS/TCS within the due date to pay a minimum penalty of Rs 10,000 which may be extended to Rs 1,00,000. The penalty under this section is in addition to the late filing fee u/s 234E. This section will also cover the cases of incorrect filing of TDS returns. No penalty under section 271H will be levied in case of delay in filing the TDS/TCS return if the following conditions are satisfied: 1. The tax deducted/collecte...
Note: The above interest should be paid before filing of TDS return. Under Section 201(1A), in case of late deposit of TDS after deduction, you have to pay interest. Interest is calculated at the rate of 1.5% per month from the date on which TDS was deducted to the actual date of deposit. Note:The interest is to be calculated on a monthly basis and...
If the person fails to deposit to the government TCS under Section 206C within the prescribed due dates, he shall be punishable with rigorous imprisonment for a term not less than three months but which may extend to seven years and with a fine.
6 days ago · Learn about the different types of TDS forms, the due dates for e-filing and payment of TDS for FY 2023-24 (AY 2024-25), and the penalties and interest for late filing or non-filing of TDS returns. Find out the latest updates on TDS on income from gaming, PF withdrawal, and mutual funds.
Apr 12, 2023 · Find out the due dates for filing and depositing TDS returns for different types of payments and sources. Learn about TDS rates, certificates, and examples for salary and other income.
Jun 29, 2016 · Find the latest due dates for e-filing of TDS and TCS returns for AY 2024-25 (FY 2023-24) and the payment deposit dates for government and non-government deductors. Also, learn about the latest updates, exemptions, and extensions for TDS/TCS returns.
Find out the due dates for depositing TDS and filing TDS returns for FY 2023-24 in India. Learn how to pay TDS online and the penalties for late or non-payment of TDS.
Jan 15, 2024 · Find out the dates for depositing and filing TDS/TCS returns for different quarters and types of payments. Learn about the penalties, interest rates and forms for TDS/TCS returns.
