Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are crucial components of India’s taxation system. Compliance with TDS and TCS due dates for payment and return filing is essential to avoid penalties and interest. In this guide, we’ll provide a complete breakdown of the due dates as per the Income Tax Act, 1961 and the Income Tax Rules, 1962.
TDS and TCS Due Dates for Payment
1. TDS Payment Due Date (Rule 30 of the Income Tax Rules, 1962)
| Deductor Type | Payment Without Challan | Payment With Challan |
|---|---|---|
| Government Deductors | Same day of deduction (book adjustment) | 7th of the following month |
| Non-Government Deductors | – | 7th of the following month |
| March (Last Month of Financial Year) | – | 30th April |
2. TCS Payment Due Date (Rule 37CA of the Income Tax Rules, 1962)
- All Collectors – 7th of the following month
TDS and TCS Return Filing Due Dates
1. TDS Return Filing Due Date (Rule 31A of the Income Tax Rules, 1962)
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | April – June | 31st July |
| Q2 | July – September | 31st October |
| Q3 | October – December | 31st January |
| Q4 | January – March | 31st May |
2. TCS Return Filing Due Date (Rule 31AA of the Income Tax Rules, 1962)
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | April – June | 15th July |
| Q2 | July – September | 15th October |
| Q3 | October – December | 15th January |
| Q4 | January – March | 15th May |
Legal Provisions Governing TDS and TCS
The key sections of the Income Tax Act, 1961 governing TDS and TCS include:
- Sections 192 to 195 – TDS deduction provisions for salary, interest, commission, etc.
- Section 200 – Responsibility of the deductor to deposit TDS with the government.
- Section 201 – Consequences of non-payment of TDS.
- Section 203 – Obligation to issue TDS certificates (Form 16/16A).
- Section 206C – TCS collection provisions.
- Section 206C(3) – Requirement to deposit TCS with the government.
Consequences of Non-Compliance
Failing to deposit TDS/TCS or missing return filing deadlines attracts penalties and interest:
- Interest on Late Payment:
- TDS Not Deducted: 1% per month from the date on which such TDS was liable to be deducted until the date on which the TDS was actually deducted. (every part of a month to be considered as a complete month)
- TDS Deducted but Not Deposited: 1.5% per month from the date of deduction of TDS till the date on which the TDS was actually remitted. (every part of a month to be considered as a complete month)
- Penalty for Late Filing of TDS/TCS Returns (Section 234E):
- Fine of Rs. 200 per day until the return is filed.
- The total penalty cannot exceed the amount of TDS/TCS due.
- Penalty for Non-Filing of Returns (Section 271H):
- If returns are not filed within one year, a penalty of Rs. 10,000 to Rs. 1,00,000 may be levied.
- Prosecution Proceeding may also apply depending on the cases
🔗 Also See: Waiver announced on Late Payments – Recent Notification
How to Pay TDS and File Returns Online?
1. Steps to Pay TDS/TCS Online
- Visit the e-pay tax section of the Income Tax Portal
- Enter TAN and validate using OTP
- Enter Assessment Year, Nature of Payment
- Make payment through Net Banking, Debit Card, Credit Card or any other modes
- Download the payment receipt
2. Steps to File TDS/TCS Returns Online
- Prepare the TDS/TCS Statement using the RPU (Return Preparation Utility) provided by Protean-TIN.
- Validate the statement using File Validation Utility (FVU).
- Upload the validated statement to the Income Tax Portal or through TIN E-filing Centres.
Key Takeaways
- TDS payments are due 7th of every month, except for March (30th April).
- TCS payments are due 7th of every month.
- TDS returns are due quarterly (31st July, 31st October, 31st January, 31st May).
- TCS returns are due quarterly (15th July, 15th October, 15th January, 15th May).
- Interest, penalties, and late fees apply for non-compliance.
For more details on TDS and TCS compliance, visit the Income Tax Department’s official website.
