Due Dates for E-Filing Of TDS Returns

There are different forms and documents required for filing of the Tax Deducted at Source (TDS). There are late filing fees for delayed filing of returns so it is important to keep the due dates in mind as well as correct documents required.
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Tax Deducted at Source (TDS): Due Dates for E-Filing Of Returns

Every assessee whose TDS has been deducted will have to file his/her TDS return. These returns should be filed after particular intervals of time, and the information that must be submitted to the income tax authorities include Tax Deduction and Collection Account Number (TAN), amount deducted, Permanent Account Number (PAN), TDS payment, kind of payment, etc. The following are the TDS return forms and the purpose for which they are used:

Form Number Purpose
Form 24Q TDS from salaries
Form 26Q TDS on all payments apart from salaries
Form 27Q Subtraction of tax from dividend, interest or any other amount payable to non-residents
Form 27EQ Collection of tax at source

Date to File TDS Returns for FY 2019-20 

Months Quarter Ending Last Date To File Returns
April, May, June June 30 July 31
July, August, September September 30 October 31
October, November, December December 31 January 31
January, February, March March 31 May 31

Last Date to File TCS Returns for FY 2019-20 

Months Quarter Ending Last Date To File Returns
April, May, June June 30 July 15
July, August, September September 30 October 15
October, November, December December 31 January 15
January, February, March March 31 May 15

In case there are delays in depositing TDS, or errors while filing TDS returns, the following penalties shall become applicable:

  • Late filing fees
  • Penalty
  • Interest

Late Filing Fees

Failure to file your returns within the due date will mean that you will be subject to a late filing fee of Rs.200 per day. The fee will be charged for every day after the due date, until the date on which your return is filed. However, the maximum fees that you will have to pay will be limited to the TDS amount.

For instance, in case your TDS payable amount is Rs.7,500 on May 14, and the amount is paid on November 19, the total number of days between the aforementioned dates is 190. Therefore, Rs.200 per day for 190 days will be Rs.38,000. However, since your TDS payable amount is Rs.7,500, your late filing fees will be only Rs.7,500 and not Rs.38,000. But, an interest will be charged to you.

Penalty

In case TDS returns are filed after the due date, or there are discrepancies in the return forms, the following penalties shall become applicable:

  • Penalty under Section 234E: Under this section of the Income Tax Act, the deductor will be charged Rs.200 per day until TDS is paid, but the penalty amount cannot be more than the TDS amount.
  • Penalty under Section 271H: A penalty which may range between a minimum of Rs.10,000 and a maximum of Rs.1 lakh shall be applicable in case wrong details have been submitted, such as incorrect PAN, incorrect tax amount, etc.

A penalty will not be charged under Section 271H of the Income Tax Act in case TDS/TCS returns are not filed within the due date, provided that the following conditions are applicable:

  • The TDS/TCS is paid to the government’s credit.
  • The filing of the TDS/TCS return is done prior to the expiry of 1 year from the due date.
  • The interest and late filing fees (if any) have been paid to the government’s credit.

Interest

Under Section 201(1A) of the Income Tax Act, 1961, if tax is not deducted at source, either partly or fully, an interest rate of 1% per month will be applicable from the date on which tax was supposed to be subtracted to the date on which it is actually subtracted. In case tax has been deducted, and has not been paid either partly or fully, an interest rate of 1.5% per month will be applicable from the date on which tax was deducted to the date on which it was paid.

For instance, in case the TDS payable amount of an individual is Rs.7,500 and the date on which it was deducted is January 14, and TDS was paid on May 18, the interest charged to the individual shall be Rs.7,500 x 1.5% per month x 5 months = Rs.562.5.

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