Friends Some questions generally arises in the mind of deductor like who is required to file e-TDS / e-TCS statement ? and what is due dates for filing of statements and what will be happened when statement is not filed in time and is there any penalty for non-filing of TDS / TCS statements. Traces have given FAQ's in this regard which is given below for deductors :-
As per Income Tax Act, 1961, all corporate and government deductors / collectors are mandatorily required to file their TDS / TCS statements on electronic media (i.e. e-TDS / TCS statements). However, deductors / collectors other than corporate / government can file either in physical or in electronic form.
The due dates for filing statements for different forms are as per the below table:
| Form 24Q, Form 26Q, Form 27Q, Form 27EQ | |||
|---|---|---|---|
| Quarter | Period | Government Deductor | Non-Government Deductor |
| Q1 | 1 Apr - 30 June | 31st July | 15th July |
| Q2 | 1 July - 30 Sept | 31st Oct | 15th Oct |
| Q3 | 1 Oct - 31 Dec | 31st Jan | 15th Jan |
| Q4 | 1 Jan - 31 Mar | 15th May | 15th May |
There will be a levy of Rs. 200.00 per day under section 234E of the IT Act, 1961 from the due date till the date when statement is filed.
Yes. If TDS / TCS statement is not filed for one year from the due date of filing, there would be a penalty of minimum Rs. 10,000.00 to Rs.1,00,000.00 for not filing TDS / TCS statement under section 271H of the IT Act, 1961.