• Kandivali West Mumbai 400067, India
  • 022 39167251
  • support@email.com
May 27, 2020

Revise TDS / TCS return filing and payment due date for year 2020 as per Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020

Revise TDS / TCS return filing due date and payment due date for year 2020 as per Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020

The due dates for various compliance in GST and Income Tax has been extended by Finance Minister. Pandemic COVID-19 forced a lockdown in India. During this period there are many challenges for the Business and Professionals including various compliances under the tax laws.

There are various relief provided in respect of filing of TDS/TCS statement and issue of certificate in the “The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020” for the quarter ended 31.03.2020

The colander year 2020 has started with many challenges with following are the revised due dates for various TDS related filing of returns and Tax payments

TDS Returns Due DatesExisting dateExtended date
Furnishing of TDS Statement for the fourth quarter of the Financial Year 2019-20 i.e From Jan to March 202031 May 202030 June 2020
Furnishing of TDS Statement in form 26QB Online form for furnishing TDS on property for month February, 2020  30 March 202030 June 2020
Furnishing of TDS Statement in form 26QC Online form for furnishing TDS on Rent on Property for month February, 2020  30 March 202030 June 2020
Furnishing of TDS Statement in form 26QD Online form for furnishing TDS on Payments to Resident Contractors and Professionals for month February, 202030 March 202030 June 2020
Furnishing of TDS Statement in form 26QB Online form for furnishing TDS on property for month March, 2020  30 April 202030 June 2020
Furnishing of TDS Statement in form 26QC Online form for furnishing TDS on Rent on Property for month March, 2020  30 April 202030 June 2020
Furnishing of TDS Statement in form 26QD Online form for furnishing TDS on Payments to Resident Contractors and Professionals for month March, 202030 April 202030 June 2020
Furnishing of TDS Statement in form 26QB Online form for furnishing TDS on property for month March, 2020  30 May 202030 June 2020
Furnishing of TDS Statement in form 26QC Online form for furnishing TDS on Rent on Property for month March, 2020  30 May 202030 June 2020
Furnishing of TDS Statement in form 26QD Online form for furnishing TDS on Payments to Resident Contractors and Professionals for month March, 202030 May 202030 June 2020

Issue of TDS certificate for the 4th quarter and for the Financial Year 2019-20 (Section 203 read with Rule 31)

Name of FormPurposeExisting DateRevise Date
Form 16In respect of tax deducted from the salary during the Financial Year 2019-2015 June 202030 June 2020
Form 16AIn  respect of tax deducted from payments other than salary for the quarter ending March 31, 202015 June 202030 June 2020
Form 16B /16C/ 16DIn respect of tax deducted under section 194-IA/194- IB/194 during the month of March, 202015 June 202030 June 2020
Form 16B /16C /16D:In respect of tax deducted under section 194-IA/194- IB/194M during the month of April, 202015 June 202030 June 2020

Though the date for filing TDS return has been extended till 30 June, but Form 17/16A needs to be issued till 30 June itself, so the TDS return should be filed atleast 15 days before 30 June to avoid any penal provision

Enter your email address:

Subscribe to faceless complainces

Furnishing of TCS statements for the 4th quarter of FY 202019-20 (Section 206C read with Rule 31AA)

From TCSExisting DateRevise Date
Furnishing of TCS Statement for fourth quarter of the Financial Year 2019-2015 May 202030 June 2020

Issue of TCS certificate for the 4th quarter (section 206C read with rule 37D)

From TCSExisting DateRevise Date
Issue of TCS certificate for the fourth quarter of the Financial Year 2019-2030 May 202030 June2020

Changes in Rate of Interest for delay in deposit the TDS/ TCS in time as per The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020

The Taxation and Other Laws (Relaxation Of Certain Provisions) Ordinance, 2020” provides that where the due dates for deposit of TDS/TCS as per the existing law falls between 20.03.2020 to 29.06.2020 and same TDS/TCS is deposited before 30th June 2020 or before any other date that may be notified by the Central Government, then, that assessee will not be held as ‘assessee-in-default’ in depositing of TDS/TCS in Central Government account. However, Assessee is still required to pay interest as per section 201(1A) of the Act but that rate of interest will be at concessional rate of interest i.e. 9% instead of 18% as applicable. Further, no penalty and no prosecution shall be initiated or imposed on the assessee for delay in deposit of TDS/ TCS.

Due dates for TDS quarterly Returns for FY 2020-21

QuarterPeriodDue Date
Q11 April 2020 – 30 June 202031st July 2020
Q21 July 2020 – 30 September 202031st October 2020
Q31 October 2020 – 31 December 202031st January 2020
Q41 January 2020 – 31 March 202131st May 2021

Due dates for TDS payment for FY 2020-21

MonthDue date for Government deductorsDue date for other deductors (Company, Individual, HUF etc)
April7th May 20207th May 2020
May7th June 20207th June 2020
June7th July 20207th July 2020
July7th August 20207th August 2020
August7th September 20207th September 2020
September7th October 20207th October 2020
October7th November 20207th November 2020
November7th December 20207th December 2020
December7th January 20217th January 2021
January7th February 20217th February 2021
February7th March 20217th March 2021
March7th April 202130th April 2021

Interest on late payment and Late deduction of TDS

As per section 201(1A) Interest at the rate of 1% per month or part of the month on amount of TDS from the date of tax was deductible till the date of tax actually deducted shall be charged for late deduction.

Also, for late payment Interest at the rate of 1.5 % per month or part of the month on amount of TDS from the date of tax was deducted till the date such tax is paid shall be charged.

Interest on late payment of TDS: Changes made as per Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 24th March 2020:

For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS, equalization levy, STT, CTT made between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum (i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.

Due dates for TCS quarterly Returns for FY 2020-21

QuarterPeriodDue Date
Q11 April 2020 – 30 June 202015th July 2020
Q21 July 2020 – 30 September 202015th October 2020
Q31 October 2020 – 31 December 202015th January 2020
Q41 January 2020 – 31 March 202115th May 2021

Due dates for TCS payment FIR FY 2020-21

The due date payment for both government and non-government collectors is as under:

MonthDue date
April7th May 2020
May7th June 2020
June7th July 2020
July7th August 2020
August7th September 2020
September7th October 2020
October7th November 2020
November7th December 2020
December7th January 2021
January7th February 2021
February7th March 2021
March7th April 2021

Interest on late payment of TCS or failure to collect TCS:

In case the collector responsible for collecting tax at source does not collect it or after collecting fails to pay it to the Government, he shall be liable to pay simple interest at the rate of 1% per month or part thereof on the amount of such tax from the date on which such tax was collectible to the date on which the tax was actually paid and such interest shall be paid before furnishing the quarterly statement for each quarter.

Enter your email address:

Subscribe to faceless complainces