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TDS Return – Due Date, Penalty and Forms

TDS Return Filing Due Date (Applicable from 1st Quarter of 2016-17)

Quarter

Last Date for Filing Return

1st April to 30th June

31st  July

1st July to 30th September

31st October

1st October to 31st December

31st January

1st January to 31st March

31stMay

TDS Return Filing Due Date (Applicable upto 4th Quarter of 2015-16)

Quarter

Last Date for Filing Return

1st April to 30th June

15th July

1st July to 30th September

15th October

1st October to 31st December

15th January

1st January to 31st March

15th May

Forms for submitting TDS statements

ParticularForm No.
Tax deduction from salary under section 19224Q
Tax deduction when deductees are non-resident (not being a company), foreign company and persons who are not ordinarily resident27Q
Tax deduction in any other case26Q


Notes – TDS return for the below assessee shall be filled electronically:-

  1. an office of Government
  2. a corporate assessee
  3. a person required to get his accounts audited under section 44AB in the immediately preceding financial year
  4. the number of deductees’ records in a quarterly statement for any quarter of the immediately preceding financial year is equal to or more than fifty

Consequences of late/wrong filing on TDS Return

  • Late filing fee of Rs 200 per day under section 234E
    1) Penalty of Rs. 200 per day shall be payable for any delay in furnishing the TDS statement. This penalty is also applicable in case of furnishing form 26 QB which is a challan cum statement in case of purchase of immovable property.
    2) The total late filing fees should not exceed the total amount of TDS made for the quarter.
  • Penalty ranging Rs 10,000 to Rs 1,00,000 under section 271H
    1) Delay in filling TDS statement for more than a year from the due date of filling of such TDS return – If the TDS statement is not filed within one year from the due date of furnishing of TDS return, then a minimum penalty of Rs 10,000 (which can go upto Rs 1,00,000) can be levied. The penalty under this section will be in addition to the late filing fee under section 234E.
    2) furnishing incorrect details in the statement filed like PAN, Challan and TDS Amount etc – Section 271H also cover cases of filing incorrect TDS/TCS return. Similarly minimum penalty of Rs 10,000 (which can go upto Rs 1,00,0000) can be levied.

 

About Rohit Pithisaria

Rohit Pithisaria is a Practicing Chartered Accountant from Jaipur and been in practice for more than 7 years. He is actively writing from very beginning of his professional career and is author of various tax articles and blogs.

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