TDS Payment Due date for FY 2020-21 (AY 2021-22)
|Month||Due date for Government deductors||Due date for other deductors (Company, Individual, HUF etc)|
|April||7th May 2020||7th May 2020|
|May||7th June 2020||7th June 2020|
|June||7th July 2020||7th July 2020|
|July||7th August 2020||7th August 2020|
|August||7th September 2020||7th September 2020|
|September||7th October 2020||7th October 2020|
|October||7th November 2020||7th November 2020|
|November||7th December 2020||7th December 2020|
|December||7th January 2021||7th January 2021|
|January||7th February 2021||7th February 2021|
|February||7th March 2021||7th March 2021|
|March||7th April 2021||30th April 2021|
Due dates for TDS quarterly Returns for Financial Year 2020-21 and Assessment Year 2021-22
|Q1||1 April 2020 – 30 June 2020||31st July 2020|
|Q2||1 July 2020 – 30 September 2020||31st October 2020|
|Q3||1 October 2020 – 31 December 2020||31st January 2020|
|Q4||1 January 2021 – 31 March 2021||31st May 2021 (Original)|
30tth June 2021 (Extended)
On 20th May 2021, CBDT has announced extension in various income tax due dates including the TDS return filing due date for Q4 of FY 2020-21, Income tax return filing due date, Income Tax audit due dates for FY 2020-21.
Now, the due date of filing TDS return for Quarter 4 (January-March 2021) is 30th June 2021.
Interest on late payment and Late deduction of TDS:
As per section 201(1A) Interest at the rate of 1% per month or part of the month on the amount of TDS from the date of tax was deductible till the date of tax actually deducted shall be charged for late deduction.
Also, for late payment interest at the rate of 1.5 % per month or part of the month on amount of TDS from the date of tax was deducted till the date such tax is paid shall be charged.
Interest on late payment of TDS: Changes made as per Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 24th March 2020:
For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS, equalization levy, STT, CTT made between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum (i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.
Fees for default in filing of TDS/ TCS return:
Fees is payable at Rs. 200 per day for each day during which the failure continues. The amount of fees cannot exceed than the amount of TDS