TDS return has to be filed by each deductor for deducting tax at source. After deducting tax from all eligible payments, you are required to file quarterly statements with government to assign the deducted tax amount to deductee’s PAN.
In this article we will be discussing TDS return filing due dates and the forms used for filing.
TDS Return forms
Based on the type of payments from which tax has been deducted, government has prescribed different forms to file every quarter. Following forms are prescribed for filing;
- 24Q – to be filed by the employer for all deductions from salary
- 26Q – to be filed by the deductor for all payments other than salary
- 27Q – used for deduction of tax from interest, dividends and any other sum payable to non-resident, not being a company or foreign company.
- 26QB- for deducting tax from consideration of immovable property.
All these TDS Return forms are required to be filed online in electronic media. After preparing these files by using latest RPU, you will be getting auto generated form 27A along with other files. The RPU utility is available free of cost to use. Anyone can use this utility to prepare these forms.
After preparing these forms, you can hand it over to the TIN FC along with the signed form 27A for uploading. You can also file it online at the NSDL site by using your digital signature certificate.
TDS return Due Dates
TDS return in above forms are to be filed with the government on or before the due date as specified.
For form 24Q, 26Q and 27Q, the due date of filing for the 1st quarter (starting from April to June) is 31st July, 2nd Quarter (starting from July to September) is 31st October and 3rd Quarter (Starting from October to December) is 31st January.
However, for the last quarter, period starting from January to March, TDS return filing due date is 31st May.
| TDS return for the quarter | Form 24Q, 26Q and 27Q |
| April to June | 31st July |
| July to September | 31st October |
| October to December | 31st January |
| January to March | 31st May |
Form 26QB has to be furnished within 30 days from the end of the month in which deduction is made. If you are paying consideration in installments, then for each payment you need to file form 26QB with the IT department.
In case of errors, a correction statement can be filed by modifying the earlier original files.
Penalty for delay in filing TDS return
Under section 234E, for delay in filing TDS returns, the deductor has to pay a fine of Rs 200 per day of default. However, total penalty will not be more than the TDS amount for which the statement was required to be filed. In addition to this penalty, the assessing office may direct to pay a penalty of Rs. 10,000 which may extend to Rs. 1,00,000 based on certain situations like non filing of TDS return.
After filing TDS return, employer has to issue certificates to the deductee on or before May 31st of the following year relevant to the financial year in which tax has been deducted. However, in other cases deductor has to issue certificate every quarter for the quarterly return filed by him.
If you don’t know how to file your TDS return, then we suggest you to take professional help in filing as preparation of 24Q, 26Q and 27Q is not going to be a easy task for non professionals.
