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Due Dates for E-Filing of TDS & TCS Returns for FY 2024-25

TDS and TCS Return Filing Due Dates
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Find TDS/ TCS return due dates with the time period and last date for filing for AY 2025-26 (FY 2024-25). TDS stands for tax deduction at source while TCS stands for tax collected at source.

As per the Income-tax Act, if any person makes a payment to the receiver, then TDS is required to be deducted at a prescribed rate and then deposited with the government. For the TCS, the person receiving the payment has to collect tax from the person making the payment and deposit thereafter with the government.

Here, we showcase the current due dates for filing TDS/ TCS returns as per the latest update by the government of India.

TDS/TCS Updates by Finance Ministry

SAG Infotech always works to help taxpayers by providing needful materials that make return filing work easy. We cover the TDS return filing last date and TCS return filing due dates in a proper format (quarterly basis) for AY 2025-26 (FY 2024-25). Also, the taxpayer gets the details of the TDS/TCS payment deposits on a monthly basis for government and non-government employees.

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    Here we have provided the Last Dates of FY 2024-25 for TDS Return Filing along with the Last Dates of FY 2024-25 for TCS Return Filing.

    TDS Return Due Date of FY 2024-25 for Return Filing

    QuarterPeriodLast Date of Filing
    1st Quarter1st April to 30th June31st July 2024
    2nd Quarter1st July to 30th September31st October 2024
    3rd Quarter1st October to 31st December31st Jan 2025
    4th Quarter1st January to 31st March31st May 2025

    TCS Return Due Date for FY 2024-25

    QuarterPeriodLast Date of Filing
    1st Quarter1st April to 30th June15th July 2024
    2nd Quarter1st July to 30th September15th October 2024
    3rd Quarter1st October to 31st December15th Jan 2025
    4th Quarter1st January to 31st March15th May 2025

    Note:


    TDS & TCS Payment Deposit Due Dates for Govt & Non-government

    Can I File a TDS Return After a Holiday or on Sunday?

    Tax-deductible at the source is done at the time of the payment to the receiver and the tax deducted is directly deposited by the giver to the government. The TDS filing is mandatory for everyone who has been into the payment transactions and therefore calls for various compliance by the government.

    The latest upcoming TDS return filing due date given by the government is near. As per the sources, it has been found that the upcoming TDS return due date is falling on Sunday which is a public holiday, therefore, one can also pay the TDS on the next working day.

    Due Date of 15G/15H Form

    The due date for quarterly furnishing of 15G/15H declaration received by the payer from 1/04/2017 onwards and the manner for dealing with 15G/15H received by the payer during the period from 01/10/2015 to 31/03/2016 has been specified in Notification No. 09/2016 dated 9th June 2016 wide F.No.DGIT(S)/CPC(TDS)/DCIT/15GH/2016-17/4539.

    S.No.ScenariosOriginal Due Date
    1For 15G/H Received from 1/04/2024 to 30/06/202415/07/2024
    2For 15G/H Received from 01/07/2024 to 30/09/202415/10/2024
    3For 15G/H Received from 01/10/2024 to 30/12/202415/01/2025
    4For 15G/H Received from 01/01/2025 to 31/03/202530/04/2025

    TDS on Purchase of Immovable Property

    Penalties on TDS/TCS Return Filing After Due Date

    TDS ensures an on-time tax payment on behalf of the income generator but not on behalf of the one who deducts the tax. For example: if an employer deducted tax on behalf of an employee, it implies that the employee has paid the tax but that doesn’t mean the employer has also paid the same. So, here comes the role of penalties and late payment charges.

    In our day-to-day life, we come across such terms as late payment fees, fines, etc on pending bills or outstanding payments. The same is true with income tax, the penalty or delayed payment fees are charged by the Income Tax Department (ITD) to an individual who is not in compliance with the IT law or could not meet his/her tax duties in a well-manner. So when such individuals fail to pay the taxes on time, the penalties are levied along with interest.

    In the same way, if a deductor or employer who deducts the TDS (Tax Deducted at Source) from the income of their employees, fails to pay TDS to the government or fails to submit relevant tax documents to the IT department on time, becomes liable to pay penalties for the late or non-payment of TDS.

    Section 234E of the Income Tax Act, which was introduced on 1st July 2012, deals with the late payment fees or penalty applicable for late submission of quarterly TDS/TCS returns by the Deductor to the ITD.

    Late Filing Fee If Miss The TDS/TCS Return Due Date

    According to Section 234E, a late fine of INR. 200 per day has to be paid to the Income Tax Department in case of late filing of TDS/TCS return and the fine will be levied for every single day of delay until the late payment charges become equal to the amount of TDS and not more than that.

    Let’s understand it through an example. Suppose you have to pay a TDS amount of INR 5000 on 1st March, but you pay the TDS amount on 30th June, then the total amount of penalty will be calculated as INR 200 X 122 days = INR 24,400.

    Since the calculated value of the penalty is more than the actual amount of TDS amount, i.e., INR 5000, you will be liable to pay only INR 5000 as the late filing charges.

    Interest in Non-Payment of TDS/TCS

    In addition to the penalty, interest will also be charged. The interest is payable by the taxpayers before the filing of the TDS return. The details about interest rates are given in Section 201 A.

    For instance – If you have to pay the TDS amount of INR 3000 which you deducted on January 15th. But you paid this TDS after the actual date of the TDS deposit, on May 29th. So, the interest will be calculated as INR 3000 X 1.5% per month X 5= INR 225.

    However, according to many High Court Cases, a month is thirty days. But Under the Income Tax Act, of 1961, there is no precise definition for a month.

    The most noteworthy point:

    For example: If the due date of the TDS payment is April 15th and the TDS was deducted on March 30th. So, here the interest will be calculated for the period starting from March 30th, instead of April 15th which is the due date.

    It becomes quite troublesome when you miss the due date of the TDS payment by a day or two. Let’s suppose May 10th was the due date for paying TDS for a TDS that was deducted on April 15th and due to any reasons you missed the due date but paid the TDS on the very next day means on May 11th. In such a case, the interest calculation will begin from April 15th, and unnecessarily you would have to pay interest for two months, i.e., 1.5% per month X 2= 3%.

    Therefore, it is very important to pay TDS before the due date of TDS payment to avert such obligations of paying huge interest and penalties.

    Penalty

    According to the norms of the Income Tax Act, You might become liable to pay the penalty of an equal amount as the deducted/collected amount

    Prosecution under Section 276B

    Section 276B states that if a person fails to pay to the credit of the Central Government within the specified time, as mentioned above, the TDS by him according to the provisions of Chapter XVII-B, he shall be penalized with fine along with severe imprisonment for some time between 3 months and 7 years. The punishment will be based on the circumstances or the inspection done by the concerned tax authority or assessment officer.

    Penalty Sections for Late Filing of TDS/TCS Return

    The penalty under section 271H starts from INR.10,000 and can be extended to INR 1,00,000 when the Deductor/Collector files a wrong return.

    Conditions when no penalty is levied for delayed filing or payment of TDS/TCS return as per section 271H.

    See Also: Income Tax Important Dates for Current Financial Year

    Most Important FAQs Regarding TDS Return Filing Due Dates

    Q.1 – What is the penalty fee to file a TDS return after the due date?

    Rs 200 per day is the late filing fee for the TDS returns after the due date till the default continues. The late fee could be at most the amount of TDS deducted.

    Q.2 – Who is obligated for the TDS deduction?

    The deductor must deduct TDS before depositing the payment with the government. TDS is deducted whatever the mode of payment cash, cheque, or credit, and is linked with the PAN of the deductor and deducted.

    Q.3 – What is the method to compute TDS on salary?

    As per the income tax slab the TDS on salary is computed applicable to the employee after adjusting all the qualified deductions and exemptions. The salary is among the income where the employer (deductor) deducts full tax obligation as TDS.

    Q.4 – What are Form 24Q, 26Q, 27Q, 27EQ?

    Such Forms are the respective formats specified by the IT department for TDS/TCS returns. Form 24Q is specified for the return of TDS details on salary payments, Form 26Q for the Return of TDS details on other than salary payments (Domestic), Form 27Q is for the Return of TDS details on other than salary payments (NRI/Foreign) and Form 27EQ is for TCS returns.

    Q.5 – Who is not obligated to file TDS?

    An individual ought not to pay TDS if he/she is making a payment to a person or HUF whose books are not audited. If the payment is made to RBI, the government, or a mutual fund then the TDS does not need to be deducted. If the payment is incurred before a transporter who has 10 or fewer goods carriers and is engaged in the business that needs leasing, hiring, or plying goods carriage.

    These individuals would be mandated to fill Form 26Q with the information of the non-deduction of tax including the PAN of the payee. If the payment has been made before the non-resident person for doing any work then the TDS does not get applied.

    Q.6 – Who can have a TDS refund?

    TDS returns having a valid Tax Collection and Deduction Number (TAN) are furnished via the employers or organizations. An individual is needed to deduct tax at the source and it is needed to be deposited in the said time who is filing the payments that are cited under the Income Tax Act.

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