TDS due date for payment and returns
In one of our previous posts, we had given a detailed view about payment and quarterly filing due dates for TDS. This article is an update keeping in mind the latest changes in TDS filing due dates for FY 2016-17.
CBDT extends due date for filing of TDS statement in Form 24Q for financial year 2018-19 from 31st of May, 2019 to 30th of June, 2019. Also, the due date for issuing of TDS certificate in Form 16 for financial year 2018-19 has been extended from 15th of June, 2019 to 10th of July, 2019.
The updated version of this post can be found here – https://www.saraltds.com/blogs/tds-due-date/
What remains the same as the previous year?
The TDS challan payment due date for each month remains the same i.e., for all the months except March, TDS payment has to be done on or before 7th of the next month. For the deductions done in the month of march, the due date for TDS challan payment is 30th of April.
|Month||Due date for payment of TDS|
|April – February||7th of the next month|
|March||30th of the next month i.e, April 30th|
The above due dates are applicable to all the non-government deductors AND government deductors who pay their taxes with a bank challan.
For government deductors who pay their taxes without producing a challan, the due date is the same day as the deduction date.
What are the changes for the current year?
TDS filing due date for 2016-17 has been changed. Now, due date for filing quarterly TDS statements has been made uniform across Government and Non-Government Deductors. It will be commonly applicable for:
- Form 24Q: It is the quarterly TDS return to be filed by the deductor ( or employer) for all the deductions made in a salaried case.
- Form 26Q: It is the quarterly TDS return to be filed by the deductor for the deductions made on non-salaried income or payments (Non-Foreign payments).
- Form 27Q: It is the quarterly TDS return to be filed by the deductor for all the deductions made in the case of NRIs (Foreign payments).
The following are the due dates:
|April to June – Q1||31st July of the financial year|
|July to September – Q2||31st October of the financial year|
|October to December – Q3||31st January of the financial year|
|January to March – Q4||31st May of the financial year following the financial year in which the deduction is made|
If these due dates are missed, what are the consequences?
If the due date was missed due to delay in deduction: There is no due date to deduct TDS, as and when you make the payment the TDS has to be done at source. For example if the Payment to Deductee was done on 1st of April and deduction is done on 30th April then interest of 1% is still applicable.
- Example: If the TDS amount was supposed to be deducted for the month of August (i.e, on 30th of August), but it was actually deducted on 10th of September, then interest will be applicable at 2% (for the month of August and September)
If the due date was missed due to delay in payment of deducted amount: In case the TDS amount was deducted on time, but is not paid by the specified due date (refer the first table), then interest will be applicable at 1.5% per month from the date of the deduction itself.
- Example: If the TDS amount was to be paid for the month of August (i.e, on or before 7th of September), but it was paid on 10th of September then interest will be 3% (for the month of August and September)
If the due date was missed due to the delay in furnishing the statements: In such cases where there is a delay in furnishing the eTDS statement, a mandatory fee of Rs. 200 per day will be applicable under Section 234E. The total fees should not exceed the total TDS amount of that quarter. The late filing fee should be paid before filing such delayed eTDS statement and has to be quoted in the return.
Failure to file eTDS statement delaying more than a year or furnishing incorrect details in the statement filed like PAN, challan and TDS Amount etc, will result in a penalty ranging from Rs. 10,000 to one lakh.
We have also included a handy, downloadable guide of the changed due dates. Follow the link to access it.
TDS filing due date for 2016-17 in PDF form.
TDS filing due date for 2016-17 as an image.
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