TDS Quarterly Return Due Date – What is the Filing Procedure and Know about Late Penalty

By Simran Arora

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TDS Quarterly Return Due Date

Do you want to find the TDS return due dates with time and last date to fill TDS returns online? If yes, this post may fit you. TDS stands for tax deduction at source. According to the Income Tax Act, if any person makes a payment to the receiver, then TDS needs to be deducted at the prescribed rate and then deposited to the government. You must know about the TDS returns and return filling procedure and give returns on time to save yourself from penalties. In this post, we are going to tell you about TDS quarterly return due dates, the filling process, and the penalty on late TDS payments.

TDS Quarterly Return Due Date

The third sector TDS Return for the years 2024–2025 must be submitted by 31 January 2024. This will be based on all TDS returns made in time from 1 October 2023 to 31 December 2023. The last date for filing a profits tax return is 31 July of each economic year. However, the date for submitting earnings tax returns remains prolonged. There is an option to return earnings tax both online and offline.

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When the ultimate date for submitting TDS tax returns is processed, people come to be worried. In a rush, commonly people fill wrong statistics because of which earnings tax word is issued to them. Considering the entirety, it can be stated that whether or not a businessman or a salaried person has to file a TDS 2024 Quarterly Return on time.

TDS Payment Due Dates 2024

QuarterQuarter PeriodQuarter EndingDue Date
First QuarterApril to June30 June15 July 2023
Second QuarterJuly to September 30 September15 October 2023
Third QuarterOctober to December31 December15 January 2024
Fourth QuarterJanuary to March31 March15 May 2024

Forms for Filing TDS Returns

Form No.Description
Form 24QQuarterly TDS statement for tax deducted on salary bills.
Form 27QQuarterly TDS declaration for tax deducted at the same time as making rate, other than revenue, to non-resident (no longer being a business enterprise) and foreign organization
Form 26QQuarterly TDS statement for different cases like TDS deducted on interest fees, interest payments, etc.

The deductor ought to provide the challan-cum-statement within 30 days from the stop of the month wherein TDS is deducted. As an exception, no return is required one after the other in such instances.

What is TDS return submitting?

The deductor is required to record TDS returns in addition to filing taxes. The IT branch must get a quarterly declaration from the TDS return submission. Timely submission of the TDS returns has, and you could document your TDS go back via online mode. Details are on Form 26 AS upon submission of the TDS returns.

Here, you know about the TDS, so you may have enough records on this announcement to be submitted to ITD. When submitting the TDS returns, here the following details need to be protected.

  • PAN card.
  • Tax amount paid to government
  • TDS challan history

What is TDS Return?

TDS is a part of earnings tax, as the tax amassed on the earnings of a person is referred to as TDS. It is deducted on different styles of earnings assets like income, interest, or commission on any funding, etc. The ITD, on behalf of the presidency of India, collects tax through TDS; however, this doesn’t apply to every profit and transaction.

Some regulations for deducting TDS have been prescribed via the ITD. Any paying entity deducts a sure quantity as TDS. The deductee avails certificates of TDS deduction, and via this certificate, the deductee can claim TDS of the tax paid by way of him. However, they make a claim in an economic year.

TDS Deposit Deadlines for Govt and Non-Govt Deductors

Non-Government Deductors

  • Monthly Deposit: Deductors should deposit TDS for every month by the 7th of the following month.
  • March Exception: For deductions made in March, the closing date extends to 30 April.

Government Deductors

  • Challan Deposits: Similar to non-government deductors, government deductors should deposit TDS for the usage of challan through the 7th of the following month.
  • Book Entry Deposits: For deductions made through book access, government deductors have to deposit the quantity on the same day because of the deduction.

How to fill TDS Quarterly Return 2024- An easy procedure

  • Visit the official website of the Income Tax Department,
  • Then, share your user ID, password, and captcha code and click on the ‘Login’ button at the bottom.
  • Now, you will see the TDS tab. Click on it; the option of ‘Upload TDS’ is available there; click on it.
  • Then, you will be asked to validate some details associated with your TDS Return 2024, after which click on the Validate button at the bottom.
  • On the next page, you have the option to upload your TDS file.
  • If you want to authenticate your go back with your online signature, then you have to download its document. Then, add the signature file by clicking on the add button.
  • As you rapidly complete the TDS go-back add process, you get a message of success of completion of your return filling on your screen. Information in this regard is also released and sent to your registered Email ID.

Penalties For Late Filing TDS

The penalty for due filing of TDS (Tax Deducted at Source) returns are

Late Filing Fee

 A past due submitting price of INR 200 according to day is relevant for any delay in filling the TDS returns. This penalty is likewise relevant in the case of filling Form 26QB, which is a challan-cum-declaration.

Minimum Penalty

If the delay in submitting the TDS return is more than a year from the due date, a minimal penalty of INR 10,000 (which can move up to INR 1,00,000) may be levied. This penalty is further to the late submitting price below segment 234E.

Incorrect Filing

 Submitting incorrect information in the declaration filed, including PAN, Challan, and TDS Amount, can also cause a minimal penalty of INR 10,000 (which can cross up to INR 1,00,000).

Maximum Penalty

 The penalty under segment 271H can vary from INR 10,000 to INR 1,00,000.

Simran Arora

Simran is experienced content writer known for crafting engaging narratives that captivate readers. She has more than 3 years of experience in multiple niches. Her dedication to her craft ensures that her words gives valuable knowledge to readers. She has completed her graduation in Bachelor of Computer Applications ( BCA) from Sirsa, Haryana. She has experience in working in multiple niches, like finance, government aid, social security, and other topics. She has excellent knowledge to work on Indian and International Content.