Last updated on October 29th, 2022 at 06:19 pm
Due Dates of TDS & TCS Returns for FY 2022-23
| Quarter | TDS Return Due Date | TCS Return Due Date |
| Apr 2022 to Jun 2022 | 31st Jul 2022 | 15th Jul 2022 |
| Jul 2022 to Sep 2022 | 31st Oct 2022 | 15th Oct 2022 |
| Oct 2022 to Dec 2022 | 31st Jan 2023 | 15th Jan 2023 |
| Jan 2023 to Mar 2023 | 31st May 2023 | 15th May 2023 |
Due Dates of TDS & TCS Returns for FY 2021-22
| Quarter | TDS Return Due Date | TCS Return Due Date |
| Apr 2021 to Jun 2021 | 31st Jul 2021 | 15th Jul 2021 |
| Jul 2021 to Sep 2021 | 31st Oct 2021 | 15th Oct 2021 |
| Oct 2021 to Dec 2021 | 31st Jan 2022 | 15th Jan 2022 |
| Jan 2022 to Mar 2022 | 31st May 2022 | 15th May 2022 |
Due Dates of TDS & TCS Returns for FY 2020-21
| Quarter | TDS Return Due Date | TCS Return Due Date |
| Apr 2020 to Jun 2020 | 31st Mar 2021 | 31st Mar 2021 |
| Jul 2020 to Sep 2020 | 31st Mar 2021 | 31st Mar 2021 |
| Oct 2020 to Dec 2020 | 31st Jan 2021 | 15th Jan 2021 |
| Jan 2021 to Mar 2021 | 31st May 2021 | 15th May 2021 |
TDS returns are to be furnished quarterly but the TDS payment to the credit of the Government needs to be done monthly. The due date for payment of TDS is generally the 7th day of the next month. The only exception to this is 30th April for the month of March.
TCS returns are to be furnished quarterly but the TCS payment to the credit of the Government needs to be done monthly. The due date for payment of TCS is generally the 7th day of the next month.
As per section 201(1A), in case of delay in deposit/ remittance of tax after deduction interest @1.5% for every month or part of a month will be levied.
As per section 201(1A), in case of delay in failure/delay in deduction of tax interest @1% for every month or part of a month will be levied.
Late fees for delay in furnishing TDS/TCS returns are covered u/s 234E of Income Tax Act,1961.
If Quarterly TDS returns or TCS returns are not furnished within the prescribed due date then late filing fees of Rs 200 per day shall be levied for the period the failure continues.
Note: The amount of late fees shall not exceed the amount of TDS/TCS.
Penal provision for TDS/TCS returns is covered u/s 271H of Income Tax Act,1961.
If the taxpayer fails to furnish the TDS/TCS return or furnishes incorrect information in the TDS/TCS return. Penalty u/s 271H shall not be less than Rs. 10,000/- but may extend to Rs. 1,00,000/-.
Click here to understand how the taxpayer can apply for relief/relaxation from the penalty under section 271H
She can be contacted at info.financepost@gmail.com
- 50th GST Council Meeting - 11/07/2023
- GST Compliance Calendar of October 2023 - 01/04/2023
- GST sections amended in Finance Act 2023 - 27/03/2023
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Due date for TCS payment of Mar’21 is 07/04/2021 and not 30/04/2021.
Unlike TDS, there is no relaxation given for TCS for the month of March and the same needs to be paid by 7th April of the following previous year.
Thanks for drawing our attention. It was a typo error and has been corrected.