Tax Deducted at Source

1] Payment of TDS

The TDS amount to be deposited with the Government of India within the stipulated time frame. The details of the same are as given below:-

Sr. No.	Date of Payment/Deduction	Due date of Payment
1	January	7th February
2	February	7th March
3	March	30th April
4	April	7th May
5	May	7th June
6	June	7th July
7	July	7th August
8	August	7th September
9	September	7th October
10	October	7th November
11	November	7th December
12	December	7th January

Alternatively, the deductor can make an advance payment to the Government of India and utilize the same to deduct the TDS month on month. The Advance payment made can be utilized +/- 1 financial year from the Date of Payment.

2] Filing of TDS Return

The TDS Return needs to be filed every quarter by the Deductor. This statement contains the full details of the Payment made, Pan No. of the Service Provider, Date of Payment and amount of TDS Deducted. Based on this Return, the Income Tax will provide credit to the Service Provider. The due date for submitting the Quarterly Return is as follows:-

Sr.No.	Quarter Ending	Due Date of Filing TDS Return
1	31st March	31st May
2	30th June	31st July
3	30th September	31st October
4	31st December	31st January

3] Interest on TDS

If the TDS amount is deposited beyond the due date, then the Interest is charged from the date of deduction @1.5% per month.

4] Penalty for Late filing of TDS Return.

IF the TDS Return is not filed with the Income Tax Department within the Due Date, then the penalty of Rs. 200/- per day is charged till the date of filing of the TDS Return or the actual TDS amount whichever is lower.

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