Today we discuss on new procedure to file the tds return and fees for filing of TDS and TCS return ( tax deducted at source or tax collected at source ) has been defined in Section 234e of income tax act, 1961. What will be the fees if not filed in due date.
New Procedure to File the TDS retrun –
Change in filing of TDS return has been effective from 01.05.2016, Now TDS return has to be filed on income tax website not on the traces website. there is change in procedure to filing the same and that will be effective from March Quarter.
Step to file the TDS Return for the March Quarter
Register your TAN on the incometaxindiaefiling.gov.in in the deductor head.
Login to the income tax website using your Pan card
Go to Dashboard and click on my pending action
Approve the TAN registration application
After approval the link will be come on email id and PIn on registered mobile number (Given on the TAN registration)
Click on the link come on email id and mention the PIN. now user will be activated
Upload the TDS return with Digital signature.
Provisions of section 234E of I.T. Act, 1961:
Section 234E of I.T. Act, 1961 is inserted by the finance act, 2012. The purpose behind introduction of this section to improve filing compliance & to avoid the difficulty faced by taxpayers due to inordinate delays in availability of tax credits in their 26AS statements.
According to the provisions of section 234E of I.T. Act, 1961:
- Where a person fails to file a TDS Return within the due date, he shall be liable to pay, fees, of Rs two hundred rupees for every day during which the failure continues.
- The amount of fees shall not exceed the amount of tax deductible or collectible, as the case may be.
- The amount of fees should be paid before filing the TDS Return.
- It is applicable on TDS Return filed on or after the 1st day of July, 2012.
Is a fee can be reduced or waived for late or non filing of TDS Return?
This is not a penalty which can be reduced or waived it is an Fees which is compulsory to be paid by the assessee before filing the return.
Due dates for filing TDS or TCS Return
According to section 200(3) of the Income Tax Act, 1961 read with the rule 31A of the Income tax rule, 1962, Provides the following due dates for filing TDS or TCS Statements:
| Due Date For Government Deductors | |
| Quarters | Form 24Q,26Q,27Q & 27EQ |
| Q-1(April-June) | 31st July |
| Q-2(July-September) | 31st October |
| Q-3(October-December) | 31st January |
| Q-4(January-March) | 15th May |
| Due Date For Non Government Deductors | |
| Quarters | Form 24Q,26Q,27Q & 27EQ |
| Q-1(April-June) | 15th July |
| Q-2(July-September) | 15th October |
| Q-3(October-December) | 15th January |
| Q-4(January-March) | 15th May |
Change in Due date of TDS Return –
From 2016 , Due date for the tds return will 30th for all the deductors. The new due date will be applicable from the Quarter April to June 2016. Note there is no change in due date for the month of march 2015, For the month of march 2015 due date is 15th May 2016.
| Due Date of TDS return For all Deductors for the financial year 2016-17 | |
| Quarters | Form 24Q,26Q,27Q & 27EQ |
| Q-1(April-June) | 30th July |
| Q-2(July-September) | 30th October |
| Q-3(October-December) | 31th January |
| Q-4(January-March) | 30th May |
Example of calculating fees for not filing the TDS Return on due date –
Suppose Mr. Akshay (Non Government deductor)
For Quarter 2 (July-Sep) due date of Filing TDS statement is 15th Oct but TDS statements are filed on 20thOct. Therefore the late filing fee under section 234E is Rs. 1000/-(Rs. 200*5 days)
Now take an another example A Government Company (Government deductor)
For Quarter 4 (Jan-March) due date of filing TDS statement is 15th may but it is filled on 15th July.
The amount of TDS is Rs. 3000/-. Late filing shall be minimum of Rs. 3000/- or Rs. 12200/-(Rs. 200*61 days). The late filing should not be more than the amount of Tax deductible.
