[ecis2016.org] The TDS return is the quarterly statement submitted by tax deductors to the Income Tax (I-T) Department. The deductor needs to follow a quarterly deadline to file these returns.
Those who have deducted tax at source (TDS) need to stick to the TDS return due date in case of TDS return filing. Until the TDS return is filed, Form 26AS will not be generated on behalf of whom you have deducted and submitted TDS to the I-T Department.
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[ecis2016.org] TDS full form: All you need to know about tax deducted at source
TDS return due date 2022
| Quarter ending | Month of deduction | TDS payment due date (FY 2022-23) | TDS return due date (FY 2022-23) |
| June 30, 2022 | April
May June |
April 7
May 7 June 7 |
July 31, 2022 |
| September 30, 2022 | July
August September |
July 7
August 7 September 7 |
October 31, 2022 |
| December 31, 2022 | October
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December |
October 7
November 7 December 7 |
January 31, 2022 |
| March 31, 2022 | January
February March |
January 7
February 7 March 7 |
May 31, 2023 |
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What happens when you miss TDS return due date?
In case of a salaried individual, his Form 26AS is updated only when his employer files the TDS return within the due date. Until the TDS filed, your employer will not be able to issue you the Form 16. This means, you will not be able to file your ITR till the TDS return is filed. Filing of the TDS return on or before the due date is important to avoid denial or delay of tax credit to the deductee.
TDS return forms
The I-T Department has prescribed various forms to enable TDS deductors to file TDS returns. The commonly used TDS return forms are given below:
Form 24Q: For payroll TDS returns
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Form 26Q: For other than payroll transactions
Form 26QB: When TDS is deducted under Section 194-IA
Form 26QC: When TDS is deducted under Section 194-IB
Form 27Q: For non-resident payments other than salary
These forms can be downloaded from the TRACES website, after which the TDS return can be filed by providing the inputs required.
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Penalty for missing TDS return due date
Various sections of the I-T law talk about penalties for missing the TDS return filing due date.
Penalty under Section 234E
Under Section 234E, a fine of Rs 200 per day will be imposed on the TDS deductor in case he fails to stick with the TDS return filing due date. The fine of Rs 200 will be deducted for each day, till the penalty is equal to the amount the deductor has to pay as TDS.
This can be explained better with an example. Suppose your employer deducted Rs 10,000 as TDS from your salary in June this year and he fails to stick to the TDS return due date, which is July 31. Instead, he files the TDS return on December 31. This makes for 153 days in delay and a penalty of Rs 30,600. As the TDS deducted is Rs 10,000 only, the deductor will have to pay a penalty of Rs 10,000 only.
Penalty under Section 271H
You may be charged with a penalty over and above this amount under Section 271H. Under Section 271H, an I-T assessing officer can demand a penalty between Rs 10,000 and Rs 1 lakh from those who fail to stick to the TDS return due date, depending on the nature of the offence and amount involved. The penalty under this section can also be levied for incorrect filing of TDS return.
TDS return filing: Precautions
- It is important that you use the correct PAN in the TDS return.
- The format to fill the date in the TDS return form is DD/MM/YYYY.
- Make sure the TDS amount deducted and the TDS actually paid are the same.
FAQs
What is a TDS return?
The TDS return is the quarterly statement submitted by tax deductors to the I-T Department. The TDS return is the summary of all tax deducted at source during a quarter.
What is the due date to file TDS in 2022?
The due date to file TDS return is May 31, 2022.
What is Form 26AS?
Form 26AS is an annual statement summarising every detail of an individual’s financials – from TDS, advance tax, self-assessment tax and refunds claims, to deposits and high-value transactions.
What happens if TDS return is filed after the due date?
A penalty of Rs 200 is charged under Section 234E for each day of delay. The penalty, however, cannot exceed the TDS amount deducted.
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