What are the due dates for payment of TDS?
Generally, the due date for TDS payment is always the 7th day of the next month, with a few exceptions. For example, if an organization wants to pay TDS for the month of July, then the TDS payment due date for the same will be the 7th of August.
What is the date of applicability of TDS provisions?
The new TDS provisions will be applicable in India from 1 July 2021. The changes are made relating to the purchase of goods, increased TDS rates and pension of senior citizens. A TDS at a higher rate will be charged against those who are liable and have not filed their ITR.
Is TDS payment due date extended?
The last date of filing Tax Deducted at Source (TDS) for the fourth quarter of financial year 2020-21 has been extended to June 30, according to the circular issued by the Income Tax department. Accordingly, the due date of issuance of Form 16 has also been extended to July 15 from June 15.
Is TDS payment due date for May 2021 extended?
May 31: Is the last date of filing quarterly statement of TDS deposited for the quarter ending March 31, 2020. It is also the due date for furnishing statement of financial transactions under section 285BA by financial institutions for FY 2020-21. The government has extended the deadline to June 30, 2021.
What is the due date for payment of TDS for April 2021?
Due Date for Filing TDS Returns FY 2020-2021
| Quarter | Quarter Period | Due Date |
|---|---|---|
| 1st Quarter | April – June | 31 March 2021 |
| 2nd Quarter | July – September | 31 March 2021 |
| 3rd Quarter | October – December | 31 January 2021 |
| 4th Quarter | January – March | 31 May 2021 |
What is the due date for payment of TDS for March 2021?
TDS payment due dates
| Month of Deduction | Quarter ending | Due Date for filing of Return for the financial year 2020-21 for all the deductors |
|---|---|---|
| March | 31st March | 31st May 2021 |
What is the date for applicability of TDS provisions in India?
New TDS, TCS Provisions in India Applicable from July 1, 2021.
Should TDS be deducted on provisions?
The Provision of section 40(a)(ia) requires that Tax has to be deducted at source when amount is paid or credited to the account of the Payee whichever is earlier. Hence Tax has to be deducted at source even on provisions made in the books of accounts to which TDS provisions are applicable.
Is TDS payment due date for April 2021 extended?
Important income tax dates in the year 2021: Quarterly filing of TDS return for TDS deposits made for quarter ending March 31, 2021 (The government has extended the deadline to June 30, 2021.)
What is the due date for TDS payment for the month of May 2021?
Important income tax dates in the year 2021:
| January 10 | Due date of filing ITR for FY 2019-20 for taxpayers whose accounts are not be audited |
|---|---|
| May 31 | Quarterly filing of TDS return for TDS deposits made for quarter ending March 31, 2021 (The government has extended the deadline to June 30, 2021.) |
Is TDS Deposit date Extended for March 2021?
CBDT has extended the due date for payment or deposit of TDS for March 2021 from April 30, 2021 to May 31, 2021 vide Notification dated only in certain cases. The tax is deducted by the deductor and deposits the TDS to the government within the prescribed due date.
What is the due date for payment of TDS for the month of April 2021?
TDS Due Dates of FY 2021-22 for Return Filing
| Quarter | Period | Last Date of Filing |
|---|---|---|
| 1st Quarter | 1st April to 30th June | 31st July 2021 |
| 2nd Quarter | 1st July to 30th September | 31st October 2021 |
| 3rd Quarter | 1st October to 31st December | 31st Jan 2022 |
| 4th Quarter | 1st January to 31st March | 31st May 2022 |
What are the due dates for filing TDs?
The due date to file TDS return for the last quarter of the FY 2019 – 2020, that is January 2020 – March 2020 is May 31, 2020. Since Mr. Kushal could not file the return within the due date, he will have to pay a penalty.
What is the last date of the TDs return?
The government has extended the last date to file IT Returns for the Financial Year 2018-2019 to 30 June 2020. The interest rate for a delay in the deposit of TDS has also been reduced from 18% to 9%. 04 April 2020 Government provides the reasons behind TDS-like move on remittances
When are payments due?
Typically, monthly payments come due on the first day of the month. The payment is technically considered late after the first of the month.