TDS (Tax deducted at source) returns and their due dates

TDS return due dates TDS (Tax deducted at source)

TDS or tax deducted at source is a part of income tax. Among the many forms of taxation methods implemented by the government TDS is one of the most important one.

It is a specific amount of % of the income of an individual which is taxes from the point of payments. The people who are responsible for making payments to their employee, business owners, interests etc have to deduct a certain percentage of tax before payment and to deposit that amount directly to the credit of the government.

tds return due dates

TDS return is a statement given to the income tax departments by the deductors. This has to be done quarterly and a compulsory process.

The TDS return due date is a specific date by which the returns should be filed as per the norms without any delay, in case of delay penalty would be imposed by the department. They have to pay either interest under section 234A or penalty under 234F. The due dates vary accordingly. For salaried people usual due dates are 31st July for the first quarter of the current financial year but they are extended for the current fiscal year 2020-21, till 31st March because of the current situation of pandemic.


Importance and Necessity of Filing of ITR Online

The due dates are 31st December for individuals, HUF( Hindu undivided families) and for business which requiring audit have due date of 31st January 2021 for the first quarters. Regular dates of filing TDS returns are-

Dates of ending of quarter of a fiscal yearDue dates of filing TDS returns of that financial year.
30 June31st july which is extended to 31 march 2021
30 September31st October which is also extended to 31st October
31st December

31ST March
31st January which is same for this financial year too till now

31st May which is also same till now for FY 20-21.

In the current financial year FY20-21, COVID 19 pandemic has shaken the economy of the country and every person has suffered from heavy loss, in order to support them, government has provided relaxation under specific laws. Section 3(1) of the ordinance 2020, extends the due dates for specific purposes under IT act 1961.


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