Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are important compliance requirements under the Income Tax Act. Every deductor or collector must deposit the tax to the government within prescribed time limits and file quarterly statements. Failure to comply may lead to interest, late fees, and penalties.
This article explains monthly due dates for depositing TDS/TCS and quarterly due dates for filing TDS and TCS returns.
1. Due Date to Deposit TDS
Generally, TDS deducted in a particular month must be deposited by the 7th day of the next month. However, for the month of March, a special due date applies.
Monthly Due Dates for TDS Deposit
| Month of Deduction | Due Date for TDS Deposit |
|---|---|
| April | 7 May |
| May | 7 June |
| June | 7 July |
| July | 7 August |
| August | 7 September |
| September | 7 October |
| October | 7 November |
| November | 7 December |
| December | 7 January |
| January | 7 February |
| February | 7 March |
| March | 30 April (next financial year) |
Example:
If TDS is deducted on 15 July, it must be deposited by 7 August.
For TDS deducted in March, the due date is 30 April, instead of 7 April.
2. Due Date to Deposit TCS
For Tax Collected at Source (TCS), the rule is similar.
TCS Deposit Due Date
| Month of Collection | Due Date |
|---|---|
| Any month | 7th of the following month |
Example:
If TCS is collected in August, it must be deposited by 7 September.
3. Due Dates for Filing TDS Returns
TDS returns must be filed quarterly. The return forms include:
- Form 24Q – TDS on salary
- Form 26Q – TDS on other payments (resident)
- Form 27Q – TDS on payments to non-residents
Quarterly Due Dates for TDS Returns
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | April – June | 31 July |
| Q2 | July – September | 31 October |
| Q3 | October – December | 31 January |
| Q4 | January – March | 31 May |
These due dates apply to Forms 24Q, 26Q and 27Q.
4. Due Dates for Filing TCS Returns
TCS returns are also filed quarterly in Form 27EQ.
Quarterly Due Dates for TCS Returns
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | April – June | 15 July |
| Q2 | July – September | 15 October |
| Q3 | October – December | 15 January |
| Q4 | January – March | 15 May |
TCS return due dates fall 15 days earlier than TDS return deadlines.
5. Late Fees and Penalty for Delay
Late Fee for TDS/TCS Return
- ₹200 per day under Section 234E
- Maximum: amount of TDS/TCS deducted.
Interest on Late Payment
- 1% per month – if TDS not deducted
- 1.5% per month – if deducted but not deposited
Penalty
Penalty under Section 271H may range from ₹10,000 to ₹1,00,000 for failure to file TDS return.
6. Important Compliance Tips
To avoid penalties and notices:
- Deduct TDS at the correct rate.
- Deposit TDS before the 7th of the next month.
- File quarterly TDS returns on time.
- Issue TDS certificates (Form 16 / Form 16A) after filing returns.
- Reconcile TDS with Form 26AS and AIS.
Disclaimer
The contents of this article are for general informational purposes only and are intended to provide quick access to tax rate information. Readers are advised to verify the provisions with the Income-tax Act, relevant rules, notifications, and official government sources before making financial decisions.
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