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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
1^st April to 30^thJune	31^st July
1^st July to 30^th September	31^st October
1^st October to 31^st December	31^st January
1^st January to 31^st March	31^stMay

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

Quarter	Last Date for Filing Return
1^st April to 30^thJune	15^th July
1^st July to 30^th September	15^th October
1^st October to 31^st December	15^th January
1^st January to 31^st March	15^th May

Forms for submitting TDS statements

Particular	Form No.
Tax deduction from salary under section 192	24Q
Tax deduction when deductees are non-resident (not being a company), foreign company and persons who are not ordinarily resident	27Q
Tax deduction in any other case	26Q

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

an office of Government
a corporate assessee
a person required to get his accounts audited under section 44AB in the immediately preceding financial year
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.

Rohit Pithisaria

I am a Chartered Accountant based in Jaipur (Rajasthan). Started TaxAdda in 2011 as a blog and now providing various services related to GST and Income Tax to the client all over India.