TDS Returns: Quarterly Due Dates, Forms and the Fee for Filing Late
Akash Kore
· Founder & Product Architect· 3 min read
TDS has two clocks: a monthly one for depositing tax and a quarterly one for reporting it. The reporting clock carries a daily fee that most deductors discover only when the demand arrives.
- ✓Returns are quarterly; payment is monthly by the 7th.
- ✓Form 24Q for salary, 26Q for other resident payments, 27Q for non-residents.
- ✓Section 234E charges ₹200 a day for late filing, capped at the TDS amount.
- ✓Section 271H adds a penalty for returns more than a year late.
Payment and filing dates
Tax deducted must be deposited by the seventh of the following month, except for March where the date is the thirtieth of April.
1. Quarter ending June: return due 31 July.
2. Quarter ending September: return due 31 October.
3. Quarter ending December: return due 31 January.
4. Quarter ending March: return due 31 May.
The forms
Form 24Q for tax deducted from salaries. Form 26Q for tax deducted from payments other than salary to residents. Form 27Q for payments to non-residents. Form 27EQ for tax collected at source.
Form 16 for salary and Form 16A for other payments are generated from TRACES after the return is processed, which is why a delayed return delays your vendors' certificates too.
Late fees and penalties
Section 234E charges two hundred rupees for every day the return is late, subject to a cap equal to the amount of tax deducted. It is a fee rather than a penalty, so it cannot be waived on reasonable cause.
Section 271H adds a penalty of between ten thousand and one lakh rupees for failure to file, or for filing incorrect information, applicable where the return is more than a year late or contains wrong particulars.
Correction statements
Errors in a filed return — a wrong PAN, a wrong challan reference, an incorrect amount — are fixed by filing a correction statement rather than a fresh return.
Unmatched challans and invalid PANs are the two commonest defects, and both block the deductee's credit, which is how they usually come to light.
Frequently asked questions
### What is the penalty for late TDS return filing?
Section 234E charges two hundred rupees a day until the return is filed, capped at the amount of tax deducted. Section 271H may add a penalty of ten thousand to one lakh rupees where the return is over a year late or contains incorrect particulars.
### When must TDS be deposited?
By the seventh of the month following deduction, except for tax deducted in March, which must be deposited by the thirtieth of April. Interest at one and a half per cent a month runs on late deposits.
### Can a TDS return be revised?
Yes, through a correction statement rather than a fresh return. Corrections are commonly needed for wrong PANs and unmatched challans, both of which block the deductee from claiming credit.
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Frequently Asked Questions
What is the penalty for late TDS return filing?
Section 234E charges two hundred rupees a day until the return is filed, capped at the amount of tax deducted. Section 271H may add a penalty of ten thousand to one lakh rupees where the return is over a year late or contains incorrect particulars.
When must TDS be deposited?
By the seventh of the month following deduction, except for tax deducted in March, which must be deposited by the thirtieth of April. Interest at one and a half per cent a month runs on late deposits.
Can a TDS return be revised?
Yes, through a correction statement rather than a fresh return. Corrections are commonly needed for wrong PANs and unmatched challans, both of which block the deductee from claiming credit.
Akash Kore
Founder & Product ArchitectArchitecting business document operating systems and automated billing workflows for Indian SMBs, agencies, and enterprises.