What is the due date for TDS payment?

Generally, the due date for TDS payment is always the 7th day of the next month, with a few exceptions. For example, if an organization wants to pay TDS for the month of July, then the TDS payment due date for the same will be the 7th of August.

Is TDS payment due date extended?

The last date of filing Tax Deducted at Source (TDS) for the fourth quarter of financial year 2020-21 has been extended to June 30, according to the circular issued by the Income Tax department. Accordingly, the due date of issuance of Form 16 has also been extended to July 15 from June 15.

Is TDS payment due date extended for April 2021?

CBDT extend dates for filing TDS, tax returns The last date for filing belated tax returns for the financial year 2021 has been extended till 31 May 2021. The date for payment of amount under Direct Tax Vivad se Vishwas Act 2020 without any additional amount has also been extended till 30th June 2021.

Is TDS Deposit date Extended for March 2021?

CBDT has extended the due date for payment or deposit of TDS for March 2021 from April 30, 2021 to May 31, 2021 vide Notification dated only in certain cases. The tax is deducted by the deductor and deposits the TDS to the government within the prescribed due date.

Is TDS payment due date for May 2021 extended?

May 31: Is the last date of filing quarterly statement of TDS deposited for the quarter ending March 31, 2020. It is also the due date for furnishing statement of financial transactions under section 285BA by financial institutions for FY 2020-21. The government has extended the deadline to June 30, 2021.

What is the due date for payment of TDS for March 2021?

TDS payment due dates

Month of Deduction Quarter ending Due Date for filing of Return for the financial year 2020-21 for all the deductors
March 31st March 31st May 2021

What is the late fee for TDS payment?

Rs. 200
As per section 234E, where a person fails to file the TDS/TCS return on or before the due date prescribed in this regard, then he shall be liable to pay, by way of fee, a sum of Rs. 200 for every day during which the failure continues. The amount of late fees shall not exceed the amount of TDS.

What is the due date for TDS payment for the month of May 2021?

TDS payment due dates

Month of Deduction Quarter ending Due Date for filing of Return for the financial year 2020-21 for all the deductors
April 30th June 31st March 2021
May
June
July 30th September 31st March 2021

What is the due date for payment of TDS for the month of April 2021?

TDS Due Dates of FY 2021-22 for Return Filing

Quarter Period Last Date of Filing
1st Quarter 1st April to 30th June 31st July 2021
2nd Quarter 1st July to 30th September 31st October 2021
3rd Quarter 1st October to 31st December 31st Jan 2022
4th Quarter 1st January to 31st March 31st May 2022

When it return will be credited 2021?

Refunds are issued within 20-45 days after processing of ITR by the CPC department of income tax.

What are the provisions in relation to interest on late payment?

Interest will be levied at 1% for every month or part of a month for delay in deduction of tax and at 1.5% for every month or part of a month for delay in remittance of tax after deduction.

What is the due date of payment of TDS for March 2021?

When is the due date for payment of TDs?

In the case of government deductors making TDS Payment without challan, the due date for Payment of TDS will be the same day when the tax amount has been deducted. In some cases, the quarterly Payment of TDS might be allowed by the Assessing Officer (AO) by taking the prior approval of the Joint Commissioner.

When do TDS / TCS statements need to be filed?

TDS/TCS statements are required to be filed on a quarterly basis. Although, according to income tax department, approval of TDS/TCS statements before the FY 2007-08 is not allowed at the TIN. TDS return filing due date must be accompanied with its rate of tax and other statuory complaince by the taxpayers.

Is there penalty for late filing of TDs return?

Conditions when no penalty is levied for delayed filing or payment of TDS/TCS return as per section 271H. The tax deducted at source is paid to the credit of the government. The interest along with late filing fees is paid to the credit of the government.

Who is entitled to TDs under Income Tax Act?

As per the provisions of the Income Tax Act, those individuals which are making payments like salary, commission, interest, professional fees, rent and more are entitled to deduct TDS tax before giving payment and further the TDS must be submitted to the government.