TDS Returns
Tax Deducted at Source (TDS) is a one of the mode or mechanism of collecting income tax under the Indian Income Tax Act of 1961
Forms for Filing TDS Returns
| Form No. | Description |
|---|---|
| Form 24Q | Quarterly TDS statement for tax deducted on salary payments. |
| Form 27Q | Quarterly TDS statement for tax deducted while making payment, other than salary, to non-resident (not being a company), and foreign company |
| Form 26Q | Quarterly TDS statement for other cases like TDS deducted on professional fees, interest payments, etc. |
Due Date of TDS Returns
| Quarter | Quarter Period | Quarter Ending | Due Date |
|---|---|---|---|
| 1st Quarter | April – June | 30th June | 15th July |
| 2nd Quarter | July – September | 30th September | 15th Oct |
| 3rd Quarter | October – December | 31st December | 15th Jan |
| 4th Quarter | January – March | 31st March | 15th May |
Penalties On TDS/TCS Return after Filing Due Date
- Late filing fees-200/- Per day
- Interest- If Tds is not deducted and Deposit 18% P.A (1.5% PER Month)