TDS Return Due Dates FY 2024-25 AY 2025-26

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 Return Forms, as well as penalties and interest payments for delayed TDS Returns. Ensuring you file your TDS return promptly is essential to avoid penalties and late payment interest.

👉 TDS Returns Due Date (FY 2024-25)

Quarter Ending Due Dates
✔️30th June 2024 31st July 2024
✔️30th September 2024 31st October 2024
✔️31st December 2024 31st January 2025
✔️31st March 2025 31st May 2025

👉 TDS Returns Forms

Form Purpose Filed By Filed For
✔️Form 24Q TDS on salaries Employers who deduct TDS from the salaries of their employees Salaries
✔️Form 26Q TDS on payments other than salaries Entities making payments to residents, excluding salaries Payments other than salaries to residents
✔️Form 27Q TDS on payments to non-resident Indians (NRIs) Entities making payments like interest, dividends, or any other income to NRIs Payments to NRIs (interest, dividends, etc.)
✔️Form 27EQ TCS (Tax Collected at Source) Entities that collect TCS on certain transactions Tax Collected at Source (TCS) on specific transactions

TDS Calculator AY 2024-25 FY 2023-24

👉 TDS Returns Late Fee and Penalty

✅ TDS Returns Late Filing Fee (Sec 234E)

TDS Returns Late Filing Fee (Sec 234E) Details
✔️Who is responsible? Deductors or collectors of TDS/TCS
✔️Penalty for late filing Rs 200 per day
✔️Condition The fee is imposed for each day the return is late
✔️Maximum fee The fee accumulates daily until it equals the amount of TDS required to be deducted

✅ Penalty u/s 234E Example

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 a TDS return for the second quarter; however, on January 20, 2025—which was eighty-one days later—you filed it.

Late filing fee calculation: Late filing fee = Rs 200 per day x 81 days = Rs. 16200/-

Now compare the late filing fee with the TDS amount, i.e., Rs 8000/-

Late filing fee (Rs. 16200) > TDS amount (Rs. 8000)

In such cases where late fees exceed the amount of TDS itself, one should be paying them both equivalently, i.e., in this situation, because the maximum penalty can’t surpass the total TDS, then he has to pay rupees eight thousand, which is the same as tax liability.

TCS Rates Chart AY 2024-25

✅ TDS Returns Penalty (Sec 271H)

TDS Returns Penalty (Sec 271H) Details
✔️Who is responsible? Deductors or collectors of TDS/TCS
✔️Penalty for late filing Minimum Rs 10,000
✔️Maximum penalty Up to Rs 1 lakh
✔️Additional penalty This penalty is in addition to the late filing fee under Sec 234E

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TDS Returns Penalty (Sec 271H): In case you miss the deadline for filing TDS/TCS returns with the IT Department, a fine may be imposed by AO under Sec 271H of the Income Tax Act. The quantum of such penalties varies from Rs 10,000 (minimum) upto Rs 1 lakh (maximum).

This penalty under section 271H is an addition to section 234E, as given above.

In other words, if you fail to submit your TDS/TCS returns on time, then you will get a penalty, and AO can also levy an additional penalty on you.

TDS Rates Chart AY 2024-25 (FY 2023-24)

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