TDS Due Dates of FY 2024-25 For Return Filing

Due Dates for TDS Return FY 2025-2026?

If your business or you as an individual are required to deduct tax at source (TDS) on payments made during the Financial Year 2025-26, it is important to know TDS due dates. Meeting these deadlines is key to avoiding penalties and ensuring smooth compliance with tax regulations.

TDS returns are filed quarterly, but the tax itself needs to be deposited with the government monthly. Here is a breakdown of the TDS quarterly return due date for both depositing and filing the TDS returns for FY 2025-26:

Forms for Filing TDS Returns

When you deduct Tax at Source (TDS), simply depositing the tax as per TDS due dates with the government is not enough. You also need to report these deductions periodically by filing specific TDS return forms. The type of form you need to use depends on the nature of the payment on which TDS was deducted.

Choosing the correct form is important for accurate compliance. Here is a quick guide to the common TDS return forms:

What are the Penalties for Late Payment of TDS?

The penalties will apply if TDS returns are filed beyond the TDS due dates or if there are inaccuracies in the return forms:

Provision 234E Penalty

The deductor shall be penalized ₹200 every day till TDS is paid under this section of the Income Tax Act, but the penalty sum cannot exceed the TDS amount.

Penalty Per Section 271H

The Assessing Officer may order a person who fails to file a TDS statement by the due date to pay a penalty of at least ₹10,000, which may be increased to ₹1,000,000. This fine is in addition to the late filing due date imposed as per section 234E. This section will also discuss circumstances when TDS returns have been filed incorrectly.

Interest Rates on Late Deposits of TDS

Section 201(1A)(I) and (II) deal with the interest rates applicable for late deposits of TDS (Tax Deducted at Source). Here is a breakdown of interest rates on late deposits of TDS:

Sec 201(1A) (I)

A penalty interest of 1% per month applies from when the tax should have been deducted to when it is deducted.

Sec 201(1A) (II)

The deducted TDS amount is subject to an interest rate of 1.5% per month from the date of deduction to the date it is deposited.

Prosecution (Sec 276B)

Section 276B of the Income Tax Act 1961, deals with the consequences of failing to fulfill your TDS (Tax Deducted at Source) obligations. Offense and penalties under Section 276B for filing beyond the due date for TDS returns are as follows:

Offenses Under Sec 276B

• Willful attempt to evade tax: This includes deliberately not deducting TDS at source or deducting less than the required amount.
• Failure to furnish return of income: If you are a deductor (someone responsible for deducting TDS), and you do not file the TDS return by the due date, you can be prosecuted under this section.
• Filing false income tax returns: Providing inaccurate information in the TDS return can also be considered an offense.

Penalty for Offenses Under Sec 276B

• Imprisonment: The punishment can range from 3 months to 7 years of rigorous imprisonment.
• Fine: You may also be liable to pay a fine and imprisonment. The amount of the fine is determined by the court.

How to Make TDS Payment Online?

Paying your deducted TDS amount to the government has been made convenient through online portals. This ensures a quick and secure way to fulfill your tax obligations. Here is a straightforward guide to making your payment as per TDS due dates online:

Step 1: Visit the Income Tax Portal

Go to the official e-Filing portal of the Income Tax Department.

Step 2: Navigate to e-Pay Tax

Look for the ‘e-Pay Tax’ option, which can be found under the ‘Quick Links’ or a similar section.

Step 3: Select Challan Type

Click on ‘New Payment’ and then choose the relevant Challan for TDS payment.

Step 4: Enter Key Details

Fill in the required information, such as your Assessment Year, TAN (Tax Deduction and Collection Account Number), address, and the type of payment.

Step 5: Specify TDS Details

Indicate the nature of the payment for which TDS was deducted, such as salaries, interest, professional fees, and the amount of tax.

Step 6: Choose Payment Mode

Select your preferred mode of payment. You can typically choose between Net Banking or paying through Debit/Credit Card of authorized banks.

Step 7: Download Receipt

After successful payment, a challan receipt containing the CIN (Challan Identification Number) and other details will be generated. Download and save this receipt carefully for your records and for using it in your TDS return.

Summing it Up

Understanding TDS and complying with TDS claim last date and other regulations is important for every taxpayer in India. TDS simplifies tax filing, prevents evasion, and eases the financial burden for individuals and businesses. You can explore the process smoothly by staying aware of applicable payments, accurately deducting, and filing returns on time. Utilize the provided due dates and information to stay compliant and reap the tax benefits of this efficient tariff system.

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