Home > Handbook > TDS Payment – Other Assessee

TDS Payment – Other Assessee

  1. When TDS is deducted by an office of the Government and tax is paid without production of an income-tax challan

On the same day on which tax is deducted.

  1. When TDS is deducted by an office of the Government and tax deposited is accompanied by income-tax challan

On or before 7 days from the end of the month in which tax is deducted.

  1. When TDS is deducted by a person (other than an office of the Government) and Assessing Officer has permitted quarterly deposit of tax deducted u/s 192, 194A, 194D and 194H.
Quarter Last Date for Filing Return
1st April to 30th June 7th July
1st July to 30th September 7th October
1st October to 31st December 7th January
1st January to 31st March 30th April

All corporate assessee and other assessee who are subject to compulsory audit under section 44AB will have to make electronic payment of TDS.

TDS is paid by Challan No./ITNS 281.

Interest on delay in deposit of TDS to the Government

  1. When TDS is not deducted

Interest at the rate of 1% per month or part thereof, for the period from the date on which TDS is deductible/collectible to the date on which TDS/TCS is actually deducted/collected.

  1. When TDS is deducted but not paid
    Interest at the rate of 1.5% per month or part thereof, for the period from the date on which TDS is actually deducted/collected to the date on which such TDS/TCS is actually paid.

Notes

  1. Above interest shall be paid before furnishing the periodical statement.


 

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Get updates and weekly newsletter in your email. Join more than 10,000 subscribers !