TDS Return/Certificate

            A TDS Return is a quarterly statement which has to be submitted by the assessee to the Income Tax Department of India. Submitting TDS Return is mandatory if you are a deductor.

Due dates of TDS Return

Quarter

Period

Last Date of Filing

1st Quarter

1st April to 30th June

31st July 2018

2nd Quarter

1st July to 30th September

31st Oct 2018

3rd Quarter

1st October to 31st December

31st Jan 2019

4th Quarter

1st January to 31st March

31st May 2019

Due dates of TCS Return

Quarter

Period

Last Date of Filing

1st Quarter

1st April to 30th June

15th July 2018

2nd Quarter

1st July to 30th September

15th Oct 2018

3rd Quarter

1st October to 31st December

15th Jan 2019

4th Quarter

1st January to 31st March

15th May 2019

Note:

TDS & TCS Deposit Due Dates for Government & Non-government

  • Due date for depositing TCS is 7th of next month.
  • Due dates for depositing TDS as under:
    • For Non-Government Deductors- 7th of next month (except for the month of March
      where due date is 30th of April)
    • For Government Deductors-
      i) If paid through challan- 7th of next month
      ii) If paid through book-entry- Same day i.e. day on which TDS deducted.

Penalty for late filing or no filing of TDS return

  • Penalty (Sec 234E): Deductor will be liable to pay way of fee Rs.200 per day till the failure to pay TDS continues. However penalty should not exceed the amount of TDS for which statement was required to be filed.
  • Penalty (Sec 271H): Assessing officer may direct a person who fails to file the statement of TDS within due date to pay penalty minimum of Rs.10,000 which may extended to Rs.1,00,000.

TDS certificate form 16/16A:

Form 16/ 16A is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees. These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to Tax Payers.

Due Dates to issue TDS Certificates:

Employers have to issue Form 16 within 15 days of filing their fourth quarter TDS returns.

Deductors have to issue Form 16A within 15 days of filing their quarterly TDS returns.

The penalty for non-issuance of TDS Certificates:

If the Employer is not able to provide the certificate within due date, then a penalty of Rs. 100 per day of delay per certificate has to be paid. Remember that penalty cannot exceed the TDS amount deducted for the quarter.