Income Tax Department via amendment, notified due dates for filing e-tds return form 24Q for salary, 26Q for Contractors/other deductees and 27Q for non residents for Last quarter (Q4) as 15th May, 2013 (15.05.2013).
Important Due Dates for March-2013:
- Due date to deposit tax deducted (TDS) of March 2013 is 30.04.2013
- e-Tds return due date for salary Q4 (01.01.2013to 31.03.2013) (form 24 Q) is 15.05.2013
- e-Tds return due date for other than salary Q4 (01.01.2013 to 31.03.2013) (26Q) is 15.05.2013
- Due date for form 16 (Salary) Fin. Yr. 2012-13 is 31.05.2013
- Due date for Form 16A (Q4) (01.01.2013 to 31.03.2013) is 30.05.2013
Note: Penalty of Rs. 200/- per day.
Deposit of Tax Deducted:
Rule 30 prescribes time and mode of payment of tax deducted at source to the account of Central Government.
Prescribed time of payment/deposit of TDS made to the credit of Central Government account is as under:
(a) In case of an Office of Government:
|Sl. No.||Description||Time up to which to be deposited.|
|1||Tax deposited without Challan [Book Entry]||SAME DAY|
|2||Tax deposited with Challan||7TH DAY NEXT MONTH|
|3||Tax on perquisites opt to be deposited by the employer.||7TH DAY NEXT MONTH|
(b) In any case other than an Officer of Government
|Sl. No.||Description||Time up to which to be deposited.|
|1||Tax deductible in March||30th APRIL NEXT FINANCIAL YEAR|
|2||Tax deductible in any other month||7TH DAY NEXT MONTH|
|3||Tax on perquisites opt to be deposited by the employer||7TH DAY NEXT MONTH|
However, if a DDO applies before the jurisdictional Additional/Joint Commissioner of Income Tax to permit quarterly payments of TDS under section 192, the Rule 30(3) allow for payments on quarterly basis and time given in Table below:
|Sl. No.||Quarter to the financial year ended on||Date for quarterly payment|
|1||30th June||7th July|
|2||30th September||7th October|
|3||31st December||7th January|
|4||31st March||30th April next Financial Year|
Statement of deduction of tax under section 200(3) [Quarterly Statement of TDS]:
4.9.1. The person deducting the tax (employer in case of salary income), is required to file duly verified Quarterly Statements of TDS in Form 24Q for the periods [details in Table below] of each financial year, to the Director General of Income Tax (Systems), ARA centre, Jhandewalan Extn., New Delhi or TIN/facilitation Centres authorized by DGIT (System’s) which is currently managed by M/s National Securities Depository Ltd. (NSDL). The requirement of filing an annual return of TDS has been done away with w.e.f. 1-4-2006. The quarterly statement for the last quarter filed in Form 24Q (as amended by Notification No. S.O.704(E), dated 12-5-2006) shall be treated as the annual return of TDS. Due dates of filing this statement quarter wise is as in the Table below.
TABLE: Dates of filing Quarterly Statements E-TDS Return 24Q
|Sl. No||Return for Quarter ending||Due date for Government Offices||Due date for Other Deductors|
|1||30th June||31st July||15th July|
|2||30th September||31st October||15th October|
|3||31st December||31st January||15th January|
|4||31st March||15th May||15th May|
4.9.2. The statements referred above may be furnished in paper form or electronically in accordance with the procedures, formats and standards specified by the Director General of Income-tax (Systems) along with the verification of the statement in Form 27 A.
4.9.3. All Returns in Form 24Q are required to be furnished in computer media except in case where the number of deductee records is less than 20. This is in accordance with the “Electronic Filing of Returns of Tax Deducted at Source Scheme, 2003” as notified vide Notification No. S.O. 974 (E), dated 26-8-2003 read with Notification No. SO 1261(E), dated 31-5-2010. Deductors have to file quarterly statements with the e-TDS Intermediary at any of the TIN Facilitation Centres, particulars of which are available at http://www.incometaxindia.gov.in and at http://tin-nsdl.com.
4.9.4 Fee for default in furnishing statements (Section 234E):
If a person fails to deliver or caused to be delivered a statement within the time prescribed in Section 200(3) in respect of tax deducted at source on or after 1-7-2012 he shall be liable to pay, by way of fee a sum of Rs. 200 for every day during which the failure continues. However, the amount of such fee shall not exceed the amount of tax which was deductible at source. This fee is mandatory in nature and to be paid before furnishing of such statement.
4.9.5 Penalty for failure in furnishing statements (section 271H):
If a person fails to deliver or caused to be delivered a statement within the time prescribed in section 200(3) in respect of tax deducted at source on or before 30-6-2012, he shall be liable to pay, by way of penalty, a sum of Rs. 100 for every day during which the failure continues, [section 272A(2)(k)]. However, the amount of such fee shall not exceed the amount of tax which was deductible at source.
If a person fails to deliver or caused to be delivered a statement within the time prescribed in section 200(3) in respect of tax deducted at source on or after 1-7-2012, he shall be liable to pay, by way of penalty a sum which shall not be less than Rs. 10,000/- but which may extend to Rs 1,00,000/-. However, the penalty shall not be levied if the person proves that after paying TDS with the fee and interest, if any, to the credit of Central Government, he had delivered such statement before the expiry of one year from the time prescribed for delivering the statement.
4.9.6 Penalty for furnishing incorrect information (section 271H)
If a person furnishes incorrect information in the statement in respect of tax deducted at source on or after 1-7-2012, he shall be liable to pay penalty which shall not be less than Rs. 10,000/- but which may extend to Rs. 1,00,000/-.
4.9.7. At the time of preparing statements of tax deducted, the deductor is required to mandatorily quote:
(i) his tax deduction and collection account number (TAN) in the statement;
(ii) quote his permanent account number (PAN) in the statement except in the case where the deductor is an office of the Government including State Government). In case of Government deductors “PANNOTREQD” to be quoted in the e-TDS statement;
(iii) quote the permanent account number PAN of all deductees;
(iv) furnish particulars of the tax paid to the Central Government including book identification number or challan identification number, as the case may be.
(v) furnish particular of amounts paid or credited on which tax was not deducted in view of the issue of certificate of no deduction of tax u/s 197 by the assessing officer of the payee.