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tds-due-dates-rates


For all employers, we have made a small table which may help you / you can use this table 
(click here-->192-tds-employee-deductions) if you have to deduct tds on your employee's salaries.

Disclaimer--> Below is general write up only for benefit of general public of India. It is advised that you consult your professional at your costs.
  • Regards, CA Kunjan Shah, www.nsc.in , kunjan@nsc.in 


Assessee Type Due Date
A company

30-Sep-YYYY 

(e.g. for financial year 2010-2011 i.e., 01-Apr-2010 to 31-Mar-2011, the due date is 30-Sep-2011)

A person other than a company whose accounts are required to be audited under the Income Tax Act or any other law
A working partner of a firm whose accounts are required to be audited under the Income Tax Act or any other law
Any other taxpayer 31-Jul-YYYY

Also, though the dates are stated as above, if you missed above dates, you can still file your Income tax returns after the due date upto end of assessment year (e.g. for FY 2010-2011, last date is upto 31-March-2012). (however, yo u have to pay late filing interest in this case.)

 

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BELOW ARE DUE DATES FOR RETURNS FOR TAX DEDUCTED AT SOURCE

Notification 41/2010 dated 31 May 2010 w.e.f April 1, 2010

1. Due dates for payment of TDS

Amount paid / credited Due date of deposit of TDS
Old Provisions

 

On 31 March 31 May
On any other day 7th of the next month
New Provisions In the month of March 30 April
In other months 7th of the next month
2. In the case of a company or a person (other than a company) to whom the provisions of tax audit are applicable, TDS must be remitted electronically (by way of internet banking facility or debit card) to the RBI or SBI or any authorized bank accompanied by an electronic income-tax challan

    3. Quarterly filed of TDS returns

    a.  Statement of deduction of tax under section 192 – Form no. 24Q

    b.  Statement of deduction of tax under other sections

    ‒In case of the deductee being a non-resident or a foreign company or resident but not ordinarily resident –Form no. 27Q

    ‒In case of all other deductees –Form no. 26Q

    4. If the number of deductee‟s / collectee‟s records in a statement for any quarter are twenty or more, the statements are required to be furnished electronically

       

      Quarter ended Due date Requirements of the forms
      30 June

       

      15 July

       

      • TAN of deductor
      • PAN of deductor
      • PAN of all deductees
      • Particulars of the tax paid to the Central Government,
      • including Challan identification number

       

      30 September

       

      15 October

       

      31 December

       

      15 January

       

      31 March

       

      15 May

       

      5. Timelines for issue of TDS certificates

      Deduction u/s Form No. Requirements of form Time for furnishing
      the form
      192 16
      • Valid PAN of the deductee
      • Valid TAN of the deductor
      • Challan identification number in case of
        payment through bank
      • Receipt number of the relevant quarterly
        TDS statement(s)
      Periodicity – Annual

      Due date – By 31 May

      Any other provision 1 6A Same as above Periodicity – Quarterly

      Due date – Within 15 days from the due date for furnishing the quarterly TDS statements

      6. The deductor may use digital signatures to authenticate Form 16

      • Once digitally signed, the contents of the certificate are not amenable to change
      • The certificates must have a control number and a log of such certificates must be maintained by the deductor

      7. Form 16 now has two parts:

      • Part A dealing with basic information regarding the deductor and employee and the summary of tax deducted of source;

      If an assessee is employed by more than one employer during the year, each of the employers are required to issue Part A of the certificate;

      • Part B dealing with details of salary and tax deducted / paid.

      Part B may be issued by each of the employers or the last employer at the option of the assessee

      8. The provision for issue of Form 1 6AA in cases of salaries not exceeding Rs. 150,000 is not contained in the amended rules

      ĉ
      CA Kunjan Shah(www.nsc.in),
      17 Mar 2013, 20:30
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