TDS Return Due Dates FY 2024-25 AY 2025-26: TDS returns are a crucial compliance requirement for TDS deductors. Filing your TDS return in a timely manner is imperative; failing to do so can lead to substantial penalties along with late payment of TDS. In this article, we will outline the TDS return due dates, TDS payment due dates, as well as penalties and interest payments for delayed TDS remittances. Ensuring you file your TDS return promptly is essential to avoid penalties and late payment interest.
TDS Returns Forms
TDS return forms for return of tax deducted at source are like receipts that the government uses to account for its revenue before actual receipt. Imagine you’re a company and you’re paying rent to your landlord. They give you a form because they want to see taxes paid on that rent. This form shows how much money was taken out as tax from the rental payment. When it gets filled in the government can track this money better.
Different forms exist depending on what kind of payment has been made, here are some examples:
Form 24Q – Employers use this when telling about how much TDS have been done from their employees’ salaries.
Form 26Q – This is used generally by everyone else who has deducted any other type of tax which isn’t salary related; such as interest or professional fee deductions.
- Form 24Q:
- Used for TDS on salaries.
- Filed by employers who deduct TDS from the salaries of their employees.
- Form 26Q:
- Used for TDS on payments other than salaries.
- Filed for payments made to residents, excluding salaries.
- Form 27Q:
- Used for TDS on payments made to non-resident Indians (NRIs).
- Filed for payments like interest, dividends, or any other income to NRIs.
- Form 27EQ:
- Used for TCS (Tax Collected at Source).
- Filed by entities that collect TCS on certain transactions.
TDS Returns Due Dates F.Y. 2024-25 (AY 2025-26)
Here are the TDS Payment Due Dates and TDS Return Due Dates for the financial year 2024-25 in a table format.
| Quarter Ending | Month of Deduction | TDS Payment Due Date (FY 2024-25 AY 2025-26) |
TDS Return Due Date (FY 2024-25 AY 2025-26) |
|---|---|---|---|
| 30th June 2024 | April 2024 | 7th May 2024 | 31st July 2024 |
| May 2024 | 7th June 2024 | ||
| June 2024 | 7th July 2024 | ||
| 30th September 2024 | July 2024 | 7th August 2024 | 31st October 2024 |
| August 2024 | 7th September 2024 | ||
| September 2024 | 7th October 2024 | ||
| 31st December 2024 | October 2024 | 7th November 2024 | 31st January 2025 |
| November 2024 | 7th December 2024 | ||
| December 2024 | 7th January 2025 | ||
| 31st March 2025 | January 2025 February 2025 |
7th February 2025 | 31st May 2025 |
| 7th March 2025 | |||
| March 2025 | 7th April 2025 (for govt office deductor) 30th April 2025 (for other deductions) |
These due dates are important for deductors to deposit TDS amounts and file TDS returns on time to comply TDS regulations.
Notes:
In case the deductions of TDS made by any government office exceed the amount payable under section 4 of Chapter XVII-B, such an office shall pay the tax deducted in accordance with this Chapter within the same day on which it is so deducted. However, if a government office deducts TDS during March 2024 they may deposit it to the credit of the Central Government by 7th day of April, 2024 instead of depositing on same day. Only March 2024 and only for Government offices are exempted from point number 5. So we advise all deductors to refer above table for due date of filing return of tds so as not to attract any penal provisions.
TDS Calculator AY 2024-25 FY 2023-24
TDS Returns Late Fee and Penalty
TDS Returns Late Filing Fee (Sec 234E): If you are responsible for deducting or collecting TDS/TCS and you do not submit the TDS return on time, you will have to pay the late filing fee. If your TDS return is late, a charge of Rs 200 (two hundred) per day will be imposed. The fee should be paid until it becomes equal to the amount of TDS required to be deducted.
Let us assume that on August 15, 2024, you deducted Rs 8,000 as TDS and by October 31, 2024, you were obliged to file TDS return for second quarter; however, on January 20th, 2025 – which was eighty-one days later – you filed it.
Late filing fee calculation: Late filing fee = Rs 200 per day x eighty-one days = Rs sixteen thousand two hundred
Now compare the late filing fee with the TDS amount i.e., Rs eight thousand:
Late filing fee (Rs sixteen thousand two hundred) > TDS amount (Rs eight thousand)
In such cases where late fees exceed the amount of TDS itself one should be paying them both equivalent i.e., in this situation because maximum penalty can’t surpass total wages then he has to pay rupees eight thousand which is same as tax liability but if not so besides just making up for these additional charges there will also arise demand for compound interest etcetera therefore now owe rupees8000 alongside principal sum along delinquent fees due date AY2025-26 must always keep track over their shoulder lest penalties catch up.
TDS Returns Penalty (Sec 271H): In case you miss the deadline for filing TDS/TCS returns with IT Department, a fine may be imposed by AO under Sec 271H of Income Tax Act. The quantum of such penalties varies from Rs 10,000 (minimum) upto Rs 1 lakh (maximum). Moreover there is another provision i.e., section 234E which deals with late filing fees.
But there shall be no chargeable offense u/s 271 H if following conditions are satisfied :-
Tax Deducted at Source/ Tax Collected at Source amount has been remitted unto Government Account
Late fee along with interest if any due must have been paid to government before this return was filed beyond one year period after prescribed due date mentioned in notice u/s139(1)
In other words if you fail to submit your TDS/TCS returns on time then you will attract penalty and also AO can levy additional penalty on you. However these penalties can be avoided if certain requirements are met.
TDS Rates Chart AY 2024-25 (FY 2023-24)
Interest on TDS Delayed Payment
When the tax-deducted amount is not deducted timely or after that not paid to the government, interest will be demanded from you.
If TDS is not deducted when it should be, you should pay 1% of delayed interest for every month starting from the date on which you were supposed to deduct tax till the date when it was actually done by you.
In case you deduct TDS but then do not submit it to appropriate authority within required time frame; then an interest at rate of 1.5% per month shall be levied on such late payment calculated from the day of deduction till day of deposit.
Notes on TDS Delayed Payment
Before filing your TDS return, you should pay the interest.
The interest rate is one and a half percent per month on monthly basis. Regardless of whether you are late for a few days during a month or not, the charge will be applicable for the whole month.
The term “month” is not defined in the law but usually it is considered as period of 30 days and not necessarily a calendar month.
Interest is computed from the date on which TDS was supposed to have been deducted and not from due date.
We recommend bookmarking this article for updates on TDS returns due dates and TDS payment due dates so that you can avoid any late payment interests or penalties.
Example
Let’s assume that you were required to deduct Rs 7,500 as TDS on June 5, 2024. However, you failed to do so until September 20, 2024. Now, you have to deposit the said TDS with the government.
Interest calculation:
TDS has been delayed for three months (June to September), hence interest is payable for three months.
The rate of interest is one and a half percent per month.
Interest payable: Rs 7,500 x 1.5% x 3 months = Rs 337.50
Therefore, in this case you will have to pay an additional Rs 337.50 as interest along with the amount of TDS while depositing it. Do remember that payment must be made on time without fail; otherwise interest will be charged and tax compliances won’t be met either.
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