TDS Payment Due Date for AY 2023-24
Dear reader here is complete details on TDS Payment Due date for AY 2022-23 & AY 2023-24. Find the due date and process of deposit of TDS. Also refer user guide on Penalty for late deposit of TDS.
All the deductor* of TDS is required to deposit the TDS at a specified Date to the government account. The due date for Payment of TDS is prescribed by the Central Government.
Every deductor is required to deposit the TDS on or before the due date specified. Failing to deposit TDS on or before the due date results in a penalty. Therefore, the deductor must be aware of the due date of deposit of TDS.
*Deductor – the person who deducts or is under an obligation to deduct tax called deductor
Key facts about Payment of TDS
- TDS Payment is the payment of TDS to the credit of Government
- TDS payment should be done after TDS deduction.
- Deductor is responsible to deposit the TDS.
- TDS payment is done on monthly basis.
- TDS payment is made on a specified date (on or before due date)
Person responsible to deposit the TDS
- Every deductor, who deduct the TDS is required to deposit the TDS amount to the government account on or before the due date
- No deductor can deposit the TDS deducted unless he has a valid TAN.
TAN required for Payment of TDS
TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax.
Thus, TAN is needed by all persons who is responsible for deducting, payment and filing of TDS returns. It is mandatory to Quote TAN in any communication with the income tax department.
Bizindigo will help you to apply for TAN for deduct the TDS, TDS payment, TDS return.
Due Dates for Deposit of TDS
| Deduction for the Month | Due Date For Payment of TDS |
| April | 7th May |
| May | 7th June |
| June | 7th July |
| July | 7th August |
| August | 7th September |
| September | 7th October |
| October | 7th November |
| November | 7th December |
| December | 7th January |
| January | 7th February |
| February | 7th March |
| March | 30th April |
TDS Payment Due Date for AY 2023-24
Due date of deposit of TDS for FY 2022-23 (AY 2023-24). TDS Payment annual calendar 2022.
| Deduction for the Month | Due Date for Payment (deposit) of TDS |
| April, 2022 | 7th May, 2022 |
| May, 2022 | 7th June, 2022 |
| June, 2022 | 7th July, 2022 |
| July, 2022 | 7th August, 2022 |
| August, 2022 | 7th September, 2022 |
| September, 2022 | 7th October, 2022 |
| October, 2022 | 7th November, 2022 |
| November, 2022 | 7th December, 2022 |
| December, 2022 | 7th January, 2023 |
| January, 2023 | 7th February, 2023 |
| February, 2023 | 7th March, 2023 |
| March, 2023 | 30th April, 2023 |
TDS Payment Due Date for AY 2022-23
Due date of payment of TDS for the FY 2021-22 (AY 2022-23). TDS Payment annual calendar 2022.
| Deduction for the Month | Due Date for Payment (deposit) of TDS |
| April, 2021 | 7th May, 2021 |
| May, 2021 | 7th June, 2021 |
| June 2021 | 7th July, 2021 |
| July 2021 | 7th August, 2021 |
| August, 2021 | 7th September, 2021 |
| September, 2021 | 7th October, 2021 |
| October, 2021 | 7th November, 2021 |
| November, 2021 | 7th December, 2021 |
| December, 2021 | 7th January, 2022 |
| January, 2022 | 7th February, 2022 |
| February, 2022 | 7th March, 2022 |
| March, 2022 | 30th April, 2022 |
TDS payment due date for March 2022
Due date for payment (deposit) of TDS of March 2022 is 30th April, 2022.
How to Deposit or pay TDS Online?
Process for Payment of TDS Online
TDS payment is made through various challans like ITNS 281 or 26QB (only specified for TDS on House Property).
Follow the below steps to deposit or pay the TDS online :
- Login to the TIN NSDL website / Portal.
- Select the applicable challan for payment of TDS.
- Fill in the challan details as required for payment of TDS
- Select the correct Financial Year for which you want to pay the TDS
- Select the Correct Assessment Year.
- Select the appropriate Section of TDS under which you have deducted the TDS.
- Select the desired Payment mode (e-Payment, Net Banking, any Other mode).
- Enter your TAN (Issued by the income tax department) in the field specified for it.
- Fill in other details like address, email id, mobile number, etc.
- Post confirmation of challan details, proceed to pay the TDS amount
After successful payment of challan amount, an acknowledgment would be generated. Keep the payment acknowledgement for record purpose.
Interest on Late Payment of TDS
Failing to deposit the TDS on time leads to a penalty. Thus, Interest is charged as a penalty for non-deposit of TDS within the Due date. Interest is calculated on the TDS amount at the prescribed rate.
The prescribed rate of Interest is summarized in tabular form below:
| Section | Nature of Default | Interest subject to TDS amount | Period for which interest is to be paid |
| 201A | Non deduction of TDS(either in whole or in part) | At the rate 1% per month | From the date on which TDS is deducted to the date on which tax is actually deducted |
| After deduction non-payment of TDS (either in whole or in part) | At the rate 1.5% per month | From the date of deduction to the date of payment |
TDS Late Payment Interest Calculator
Example-1,
Mr. Sumit has deducted a TDS of Rs 2000 on May 20, 2021. But He deposits the TDS amount on the 7th day of July 2021 instead of 7th June (due date of payment of TDS).
So, in this case, he would be liable to pay the interest on Rs 2000 at the rate of 1.5% for the delay in payment of TDS.
TDS Amount: Rs.2000
TDS Deducted on: 20th May
Due Date of Payment: 7th June
Actual Payment Date: 7th July
Interest: Payable: Rs. 90 (2000*1.5%*3)
1.5% Interest per month for the months May 2021 to Jul 2021 – Rs 90.00
Consult a Tax Expert
BIZINDIGO provides the expert guidance related to Tax Filings, TDS Compliance.
We can help you in guiding applicability of TDS, Payment of TDS and filing of TDS Return or TDS Statement as per lncome Tax Laws. We can also help you with TAN Registration.
Call/WhatsApp: 8851222731