TDS Return Due Date & Late Fee, Penalty[2022]

TDS Return Due Date, Penalty for Late Filing

In this post, we are going to discuss the Due Date of TDS Return, late fee, and penalty for late filing of TDS return. Find the latest TDS Return due date applicable for AY 2022-23 & FY 2021-22.

You may also find here the various due dates of filing of TDS Return for FY 2022-23 & AY 2023-24.

We must know that every person who deducts TDS (called “Deductor”) is liable for filing of TDS Return after the deduction and deposit of TDS.  That TDS Return should be filed on or before the TDS Return Due Date prescribed under the law.

Therefore, it is mandatory that the TDS return should be filed on time by the deductors. The filing of TDS return is a quarterly activity and it can be done online.

Once the TDS returns are filed, the details will reflect in the payee’s Form 26AS.

tds-return due date

Due Date of TDS Return

As per the Income Tax Laws, TDS is paid on monthly basis whereas TDS Return or TDS Statement is filed on quarterly basis. Quarter wise Due date of TDS Return are summarized below:

QuarterMonthDue Date of Filing TDS Return
1st QuarterApril-June31st July
2nd QuarterJuly-September31st October
3rd QuarterOctober-December31st Jan
4th QuarterJanuary-March31st May

TDS Return Due Date for FY 2022-23[AY 2023-24]

Various Due Dates of filing TDS Return for FY 2022-23 & AY 2023-24.

QuarterMonthDue Date of Filing TDS Return
1st QuarterApril, 2022 to June, 202231st July, 2022
2nd QuarterJuly, 2022 to Sep, 202231st October, 2022
3rd QuarterOctober, 2022 to Dec, 202231st January, 2023
4th QuarterJanuary, 2023 to March, 202331st May, 2023

TDS Return Due Date for AY 2022-23 [FY 2021-22]

Various Due Dates of filing TDS Return for FY 2021-22 & AY 2022-23.

QuarterMonthDue Date of Filing TDS Return
1st QuarterApril, 2021 to June, 202131st July, 2021
2nd QuarterJuly, 2021 to Sep, 202131st October, 2021
3rd QuarterOctober, 2021 to December, 202131st January, 2022
4th QuarterJanuary, 2022 to March, 202231st May, 2022

Penalty for late filing of TDS Return

Failing to file TDS return with the due date would result into a late filing fee and penalty. Therefore, If any deductor has failed to file the return within the due date prescribed, such default would attract the:

  • Late Filing Fee
  • Penalty

A late filing fee is a penalty for not filing of TDS Return within the Due date (after payment of TDS). In that case, a late fee of Rs.200 per day will be charged from the due date of furnishing the TDS return until the filing is made.

However, the amount of late filing fees will be limited to the extent of TDS amount.

For example, Mr. Shubham has to pay a TDS of Rs.5000 on May 20. In that case, TDS payment falls under the 1st quarter (April – June). Therefore, he is required to file the TDS return on 31st July, but he furnishes the same on 10th September.

So, the late filing fee can be calculated as @200*41 days= Rs.8200 but the payable late filing fee would be to the extent of Rs. 5000, not 8200 (i.e., equal to the TDS amount).

Penalty for not filing of TDS Return

The penalty is levied under two sections:

  • Penalty under section 243E – deductor will be liable to pay fee Rs.200 per day till the failure to pay TDS continues.
  • Penalty under section 271H – it is addition to penalty under section 243E & it is the penalty for both late filing & incorrect filing of TDS.

No penalty under section 271H will be levied in case of delay in filing the TDS return if the following conditions are satisfied by the deductor:

  • The TDS is paid to the credit of the Government.
  • Late filing fees and interest (if any) on TDS is paid to the credit of the Government.
  • The TDS return is filed before the expiry of a period of one year from the due date specified in this behalf

How to file TDS Return Online?

Types of TDS Return Forms – 24Q, 26Q

E-filing of TDS return is done using the various TDS forms prescribed under the law.

  1. Form 24Q prescribed for TDS payment on salary,
  2. Form 26Q prescribed for all TDS payment other than salaries

What are the documents required to file TDS Return?

Details that are required when we filing TDS returns are mentioned below:

  • The deductees and deductors PAN details.
  • Deductors  TAN Number
  • TDS challans details.
  • The amount of TDS that was paid to the government.
  • Any other relevant information if needed.

Steps to file TDS Return online

TDS quarterly return to be filed through the following process:

  • Login to your account at the Income Tax Dept.  e-TRACES website/ Portal,
  • Go to TDS upload option under TDS panel;
  • Enter the TDS details and click on Validate;
  • Upload the TDS zip file which was downloaded at the time of TDS payment through NSDL’s website;
  • Attach the signature file (DSC) for uploading the TDS payment zip file;
  • e-verify return using the options:
  1. EVC;
  2. Aadhar OTP

Make sure that your TDS Return has been properly filed.

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 the Tax Laws. We can also help you with TAN Registration.

Call/WhatsApp: 8851222731

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