Last updated on 31st July 2020

With the ongoing pandemic Covid 19, Central Government had issued new guidelines pertaining to the last date of TDS return filling for 2019-20. The TDS return for the financial year 2020-2021 would be:

1- 31st March 2021 for 1 and 2nd Quarter,
2-31st January 2021 for 3rd Quarter and
3-31st May 2021 for 4th Quarter.

Al the updates are issued by Govt of India, keeping in mind the struggle faced by companies due to ongoing pandemic.

What is TDS Return?

TDS is an abbreviation of Tax Deducted at Source. As per the Income Tax Act, every individual who has made a payment, a fixed amount is deducted that is deposited with the government. Thus, the amounted deducted TDS. Every year, each assessee whose TDS has been deducted is allowed to file TDS return. With every quarter the Last filling date of TDS return is issued by Government, and one can submit all the information to the Income Tax department.

Understanding late filing of TDS Returns

As all the information is stored with the government, the assessee can check all the monthly payments they made for which deduction was done. But only on given time intervals, TDS return can be filled. If the assessee is late in submitting TDS return, then they have to bear the penalties. The Due date of TDS Return and TDS payments if skipped, can make you pay Rs 200 per day as of late filing charge. Also, there can be a penalty charged for min 10,000 Rs to max 1,00,000 Rs for wrong information provided.

In the end, now you have updated information and due date information for TDS Return so that you can file it now.

Important: Please note that the information on this page / site is provided as general information for better understanding for the user and does not constitute tax, legal, or other professional advice and must not be used as such. Please consult your professional adviser(s) if you have any questions / doubts regarding the above.

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