Due Date for Filing TDS Return
All the depositor / payer of TDS is liable for e-filing of TDS Return after payment of TDS. E-filing Statement of TDS is required to be filed on or before the TDS Return Due Date prescribed.
It is mandatory that the TDS returns are submitted on time by the deductors. Filing of TDS returns can be completed online. Once the TDS returns filed online, the details will come up on the payee’s Form 26AS.
Thus, deductors should be aware of the due date for e-filing of TDS Return.
Due Date for e-filing 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 for e-filing of TDS Return are summarized below:
|Quarter||Month||Due Date For e-Filing Return|
|1st Quarter||April-June||31st July|
|2nd Quarter||July-September||31st October|
|3rd Quarter||October-December||31st Jan|
|4th Quarter||January-March||31st May|
Penalties for late filing of TDS Return
Failing to e-file TDS return with the due date would result into late filing fee and penalty.
Therefore, If any deductor has not filed the return within the due date prescribed, such default would attract the following penalties:
- Late Filing Fee
Late Filing fee is a penalty for not filing of TDS Return (after payment of TDS) within the Due date.
Late Filing Fee of TDS@200 per day
The late fee for non-filing of TDS Return within the due date is Rs. 200/- per day from the due date of furnish the TDS filing return until the filing made.
However, the limit for late filing fee will be extent to the amount of TDS paid.
Let us take a example, Mr. John has to pay TDS of Rs 10,000 on May 20, he subject to file the TDS return on 31st July, but he furnishes the return on 20th September.
So, the late filing fee can be calculated as Rs.200×111 days= Rs. 22,200 but the payable late filing fee would be to the extent of Rs.10,000 not 22200 (i.e., equal to the TDS amount paid).
Penalty for not filing of TDS Return after payment within the one year.
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?
Process for e-filing of TDS Return
E-filing of TDS return is done through various form, the following list prescribed the form for e-filing of TDS return:
- 24Q for TDS payment on salary,
- 26Q for all TDS payment other than salaries
Details Needed to e-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.
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 Statement 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;
- or through e-verify
- Aadhar OTP generated.
Make sure that your TDS Return has been properly filed.
Consult a Tax Expert
BIZINDIGO provides the expert guidance related to Tax Filings, TDS Compliances. 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.