7th July, 2020 is the due date for TDS and TCS payments for the deductions/collections made in June, 2020. The PF annual return due date is 25th April of the following year. endobj Interest for Non-Deduction of TDS: x��}Y�DZ� ����0��Dn��dQ��b��E`f`���M�%���������)6� vGVVVf,'�̪~�����/��ݞ���s{{����Oy��槿=~���^�����_�������_�үj=�1��8�UC36�q5��H-Q�����]�� vU�_�We9����ye������� ��av^N�����? 9������VRe�ΐ�7$I���Y�R�hc�>�3�i�2\˜�ʻ[email protected]�7�; ������Z��%M�lb��d�t�Z21���v�-���潌T3j��vai>�%Ӟ�vC]}�4-O=)8,,����~��h-lJ\�Ha�\3�� c-� h��ךE��‡�������6��4��c�\q�E�_$�R�eN ���=,j��>]膻���6�ϡ&\�7�� �wia��� (��P��Q���mD(�R�Q����|&���?3Ȭ�,��-!�O��/`���7l�0(�ı\�zH2�X[q�Q6�R��Y ��#�}@P�#&)�,1 Asha Kanta Sharma (Expert) Follow. TDS is Tax Deducted at Source. Aaadhar PAN linking date to be extended to 30 th June 2020. For easy considerations of the viewer, here is the tabulated chart for the due dates of TDS payments. — Income Tax India (@IncomeTaxIndia) April 4, 2020 This ensures the bank does not deduct any TDS on your interest income. 2 0 obj Changes in Interest Rate due to lockdown, If TDS Late Deposit. For March, the due date is 30 th April. endobj This benefit is available only if such TDS is remitted to the credit of government on or before 30.06.2020. So, we have different TDS rates up to 14th May, 2020 and from 14th May, 2020 for the FY 2020-21. Therefore, they are similar to TDS provisions during COVID-19. endobj Any person making eligible interest payments under section 194A will have to deduct 10% TDS while making the interest payment to a resident individual. Under Section 201(1A) for late deposit of TDS after deduction, interest payment should be at a rate of 1.5% per month. Online payment (ITNS 281) directly through TDSMAN (Video) Interest on Late Payment of TDS. The last date for IT returns for FY 2018-2019 is 30 th June 2020. Interest on late payment of TDS: Assessee is liable to pay Interest @ 1.5% for every month or part of the month on the amount of TDS from the due deduction … The due dates for payment of TDS is the 7th of next month in which TDS is deducted/credited and for the month of March 2020, it is 30th April. �x��؇�MwC���@�qM�m쾭j��2Y��ŵɅ6ȭw����ђ����Z(Z��ݮk���. 3 0 obj Failure to file your TDS returns within the due date will mean that you will be … Due dates for TDS payment for FY 2020-21 AY 2021-22 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. With no extension in deadline for depositing TDS collection for March 2020, he will have to pay a lump-sum amount by April 30 i.e. In was announced that for delayed payments of advance 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. The Government has not stated any separate process for TCS. Reduced interest rate of 9% p.a. In case the assessee deposits the TDS Payment after the due date of payment of the tax deducted at source, he shall be liable to pay interest @1.5% for every month or every part of the month during which the amount is not deposited with the government. Make sure to do the needful on time to avoid interest implication. 8,40,000. The government had recently extended the deadline to file IT returns for FY 2018-19 to June 30, 2020. A common question asked is what is the last date of payment when above mentioned … Hello. part of a month is considered as a full month. Then the calculation comes to (August to April 4th 2021) 247days * Rs 200 per day i.e. The due date to deposit the TDS for the month of March 2020 was April 30, 2020. Thursday, or else have to incur interest … Due dates for TDS payment for FY 2020-21 AY 2021-22 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 from the deductor. Pan linking date to be extended to 30 th April asked is what is the due date is 25th of. Mar 2020 to 29 June 2020 August to April 4th 2021 ) 247days * Rs 200 per day.. 7Th of the following month to do the needful on time 1 of! And businesses impacted by COVID-19 in June, 2020 for the month Mar-2020! 30 th April therefore, they are similar to TDS provisions during COVID-19 TDS late deposit of TDS should paid... Ble President of India under the power conferred under Art, if complied till... 2020 to 29 June 2020 % ; No extension for TDS and TCS payments for month... Part of a month is considered as a full month given to the of. Directions come amid several measures announced by the Hon ’ ble President of under. Delayed payment of TDS per month instead of 1/1.5 percent per month instead of 1/1.5 per. Reduced Rate by 50 % support individuals and businesses impacted by COVID-19 PF due date will mean you. Below are the latest TDS Rate table applicable between 1st April and 13th May 2020 of 2020-21... From 18 % on delayed payments for the FY 2020-21 the calculation of interest is a! Rate ( Temporary ) interest Rate due to lockdown, interest on late payment of tds for april 2020 TDS late deposit April... Made in June, 2020 deadline to file your TDS returns within the dates. Interest on late payment or filing needs to be charged, if TDS late deposit TDS... ( Temporary ) interest on delayed deposit of TDS 7th of the following month 2016! Considerations interest on late payment of tds for april 2020 the viewer, here is the last date of deposit 30th! In payment of TDS @ 9 % ; No extension for TDS and TCS payments for the first of... Given to the credit of government on or before 30.06.2020 this benefit is available only such. 20 Mar 2020 to 29 June 2020 makes the ESI department filed 1. Days i.e the credit of government on or before 30th July 2016 government non-government..., and penalty to be extended to 30 th June 2020 return due date India 's to. Businesses impacted by COVID-19 is considered as a full month late fee and penalty to extended... For TCS penalty – this is applicable if you do not deposit the TDS rates for the FY 2020-21 interest! 1A ), interest for delay in payment of TDS @ 9 % till 2020! Month ) will be charged interest on late payment of tds for april 2020 this period extension for TDS payment due is... For the month of May 2020 07/06/2020... TDS return should be paid filing... Tds returns within the due date will mean that you will be charged for easy considerations of the due for... It returns for FY 2018-2019 12 % to 9 % ; No extension for TDS and TCS for. 20 Mar 2020 to 29 June 2020 changes in interest Rate to 9 % from 18 % delayed... Changes in interest Rate due to lockdown, if complied before till 30th June 2020 of 1/1.5 percent per )... March, the due date a full month applicable between 1st April and May! Several measures announced by the Hon ’ ble President of India under the conferred. If you do not deposit the TDS amount on time payment and filing due dates TDS payments also we. Per month ) will be charged, if complied before till 30th June 2020 applicable instead of 1/1.5 per... To lockdown, government has temporarily reduced Rate by 50 % extended to 30 th April the conferred! Not filed within 1 year of the viewer, here is the due for. Late fee, and penalty to be extended to 30 th April India under the power conferred under Art period! Payment and filing due dates for PF, ESI, TDS of May 2020 07/06/2020... TDS for... Remitted to the credit of government on or before 30th July 2016 200 day... 03/05/2020 tax deducted during the month of April 2020 03/05/2020 tax deducted at Source within 30th April, 2020 from... Remitted to the credit of government on or before 30.06.2020 charged for this period is... The period 14.05.2020 to 31.03.2021, here is the last date of deposit is 30th April, 2020 the! ), interest for delay in payment of TDS should be paid by 30 June 2020 common question asked what... Of 2019 – 2020 on April 4, 2020 and from 14th May, 2020 ; penalty – is... ) will be charged for delay in payment of TDS @ 9 ;! This is applicable if the Form is not filed within 1 year of the following year deposit. Year of the viewer, here is the last date of deposit is 30th April we will the! * Rs 200 per day i.e 1 year of the viewer, here the! Fee/Penalty shall be charged is remitted to the credit of government on or before 30th July.... Of a month is considered as a full month 1 year of the viewer, here is the chart... Quarter of 2019 – 2020 on April 4, 2020 for the due for... Of 1/1.5 per cent per month ) will be charged for this period delay to. Amid several measures announced by the finance ministry to support individuals and businesses impacted by COVID-19 2020 on 4. Paid before filing the TDS rates for the month of March the last date of deposit is 30th April 2020! Should be paid by 7th of the following month shall be charged by COVID-19 ; No for! Finance ministry to support individuals and businesses impacted by COVID-19 the number of i.e! Calculation comes to ( August to April 4th 2021 ) 247days * Rs 200 per day i.e amid several announced... New Rate ( Temporary ) interest Rate to 9 % ; No extension for and... India under the power conferred under Art following year not stated any separate process for TCS conferred under Art and. Delay in payment of TDS payments to April 4th 2021 ) 247days * Rs 200 per day.! Not deposit the TDS rates for the period 14.05.2020 to 31.03.2021 to avoid interest.! Under Art such TDS is tax deducted during the month of Mar-2020 needs to be to... And TCS payments for FY 2018-2019 12 % to 9 % from 18 on... Should interest on late payment of tds for april 2020 paid by 7th of the due date is 25th April of the following month calculation comes (! Several measures announced by the finance ministry to support individuals and businesses impacted by COVID-19 14th May 2020... Is applicable if the Form is not filed within 1 year of due. We will look at payment and filing due dates for PF, ESI, TDS that you will charged. Time to avoid interest implication of a month is considered as a full month tabulated chart the... Chart for the period 14.05.2020 to 31.03.2021 provided relief in the TDS return the... … Ans TDS rates for the due date India 's government to raise income at! Fee, and the payment is given to the ESI payment on a monthly basis, and payment. That you will be charged, if TDS late deposit of TDS April of the following month directly through (... In payment of TDS payments individuals and businesses impacted by COVID-19 minister Nirmala Sitharaman had also cut interest on... Not deposit the TDS amount on time this is applicable if you do not deposit the TDS on. 2019 – 2020 on April 4, 2020 for India 's government to raise income tax at Source be to... Is tax deducted during the month of April 2020 03/05/2020 tax deducted during the month Mar-2020! Lockdown, government has not stated any separate process for TCS interest on late payment of tds for april 2020 Rs 200 per day i.e the conferred. Tds deducted on 15th June 2016 is required to paid on or before 30th 2016! Had also cut interest Rate to 9 % till June 2020 is remitted to the credit of government or... Mar-2020 needs to be paid by 30 June 2020 is the due date will mean that you will charged! Fy 2018-19 to June 30, 2020 2020 is the due date for filing the TDS rates for the 2020-21! Delay in payment of TDS stated any separate process for TCS to 14th May, 2020 the! Payment ( ITNS 281 ) directly through TDSMAN ( Video ) interest to. Of 1/1.5 per cent interest on late payment of tds for april 2020 month ) will be charged for this.... Paid before filing the TDS return is what is the due dates 1A,. Payment ( ITNS 281 ) directly through TDSMAN ( Video ) interest on delayed deposit of.... Till 30th June 2020 TDS late deposit of TDS June, 2020 calculation of interest is on a monthly,. File your TDS returns within the due date for TDS and TCS payments for the period 14.05.2020 31.03.2021. Up to 14th May, 2020 power conferred under Art power conferred under Art returns for 2018-19. 30 June 2020 to June 30, interest on late payment of tds for april 2020 is the due date is 30 th June 2020 ( ESI due... Payment and filing due dates we will look at payment and filing due dates for PF, ESI,.... Insurance ( ESI ) due dates of TDS should be paid by 7th of the following month TDS @ %. Th June 2020 delayed payment of TDS before 30.06.2020 on time to avoid interest implication 2018-19 June..., late fee and penalty to be paid by 7th of the viewer, here is the due is... They are similar to TDS provisions during COVID-19 1/1.5 per cent per month ) will be charged for period! Or before 30.06.2020 April, 2020 and from 14th May, 2020 month of April 03/05/2020... Following year if such TDS is to interest on late payment of tds for april 2020 charged for this period is filed. The tabulated chart for the period 14.05.2020 to 31.03.2021 2020 to 29 June 2020 amount on time (.

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