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TDS due date

LAKSHMAN SHAH (1 Points)

01 April 2018

what is the maximum time limit for depositing TDS amount For
A.Y 18-19

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6 Replies

Rahul Prajapati (Student) (2282 Points)
Replied 01 April 2018

30th April is the last date for depositing TDS for March 3018.

31st May is the last date for TDS Return filing for FY 2017_18

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Rahul Prajapati (Student) (2282 Points)
Replied 01 April 2018

In case you have not deposited TDS by the correct date, the following penalties are applicable:

Late filing fee (if you do not file by the deadline)
Interest (if you do not deposit the TDS amount in time)
Penalty (if TDS is not filed within one year of the due date)

Interest

Section	Nature of Default	Interest subject to TDS/TCS amount	Period for which interest is to be paid
201A	Non deduction of tax at source, either in whole or in part	1% per month	From the date on which tax deductable to the date on which tax is actually deducted
201A	After deduction of tax, non payment of tax either in whole or in part	1.5% per month	From the date of deduction to the date of payment

Note: The above interest should be paid before filing of TDS return.

Under Section 201(1A) for late deposit of TDS after deduction, you have to pay interest. Interest is at the rate of 1.5% per month from the date at which TDS was deducted to the actual date of deposit. Note, that this is to be calculated on a monthly basis and not based on the number of days i.e. part of a month is considered as a full month.

For example, say that your payable TDS amount is Rs 5000 and the date of deduction is 13th January. Say you pay TDS on 17th May. Then the interest you owe is Rs 5000 x 1.5% p.m. x 5 months = Rs 375.

“Month” has not been defined in the Income Tax Act, 1961. However, in a number of High Court cases, it has been mentioned that it should be considered as a period of 30 days and not as an English calendar month.

This amount is to be paid from the date at which TDS was deducted, not from the date from which TDS was due.

For example, let the due date of TDS payment be 7th May and you have deducted TDS on 19th April. Say you have not deposited TDS by 7th May. Then you will be required to pay interest starting from 19th April and not 7th May.

Also consider the case in which you deposit tax one month after the due date. Say you have deducted TDS on 1st August. Then the due date is 7th September. Now say you deposit tax on 8th September (i.e. one day after the due date). Then interest is applicable from 1st August to 8th September i.e. for a period of 2 months. You now have to pay interest of 1.5% p.m. x 2 months = 3%.

Mushak shareef (eFiling Consultant) (144 Points)
Replied 04 April 2018

Originally posted by : Rahul Prajapati
	30th April is the last date for depositing TDS for March 3018. 31st May is the last date for TDS Return filing for FY 2017_18

I think its wrong . Due date is 15 May 2018

Rahul Prajapati (Student) (2282 Points)
Replied 04 April 2018

Originally posted by : Mushak shareef
	Originally posted by : Rahul Prajapati 30th April is the last date for depositing TDS for March 3018. 31st May is the last date for TDS Return filing for FY 2017_18 I think its wrong . Due date is 15 May 2018