Sunday, April 29, 2012

DUE DATE TDS DEPOSIT , FORM 16 ,E TDS RETURN 24Q,26Q MARCH 2012


on Sunday, April 29, 2012

  • Due date to deposit tax deducted(TDS) in March 2012 is 30.04.2012
  • Etds return due date for salary Q4(01.01.2012 to 31.03.2012) (form 24 Q) is 15.05.2012
  • Etds return due date for other than salaryQ4(01.01.2012 to 31.03.2012)  (26q) is 15.05.2012
  • Due date for form 16(salary) Fy 2011-12 is 31.05.2012
  • Due date for Form 16A quarter four (01.01.2012 to 31.03.2012) is 30.05.2012
Pls note all date and make sure that you are on time in each case.

Due date to deposit the tax deducted on amount/Income paid in March 2012 and Tax deducted on provisions created in March 2012 is 30.04.2012. This is as per notification 41/2010 dated 31.05.2010(download complete notification from link given at the end)

Old rule :Many people have a doubts regarding the due date for tds payment in March month. Few people mail me and ask to confirm that like service tax ,excise, tds deposit date for march is 31.03.2012 .But this is not the case in income tax . In old rules due date for tax deducted in month of march was 7 April and date to deposit tds deducted on provision on last day of financial year was 31.05 of next financial year. 

but the these rule has been amended and as per latest rule for tds deducted in march 2012 ,due date to deposit tax is 30.04.2012.(read text in red in rule 30 Given below)

So enjoy for one month and deposit tax on or before 30.04.2012.
New rule is reproduced here under.

“Time and mode of payment to Government account of tax deducted at source or tax paid under sub­ section (1A) of section 192.

Rule :30.
(1) All sums deducted in accordance with the provisions of Chapter XVII‐B by an office of the Government shall be paid to the credit of the Central Government ‐

(a) on the same day where the tax is paid without production of an income‐tax challan; and

(b) on or before seven days from the end of the month in which the deduction is made or income‐tax is due under sub‐section (1A) of section 192, where tax is paid accompanied by an income‐tax challan.
Tax to be deducted by Govt  Office
1
Tax deposited without challan
Same day
2
Tax deposited with challan
7th of next month
3
Tax on perquisites opt to be deposited by the employer
7th of next month
(2) All sums deducted in accordance with the provisions of Chapter XVII‐B by deductors other than an office of the Government shall be paid to the credit of the Central Government ‐

(a) on or before 30th day of April where the income or amount is credited or paid in the month of March; and
(b) in any other case, on or before seven days from the end of the month in which‐
  1. the deduction is made; or 
  2. income‐tax is due under sub‐section (1A) of section 192. 
Tax deducted by other
1
tax deductible in March
30th April of next year
2
other months & tax on perquisites opted to be deposited by employer
7th of next month
(3) Notwithstanding anything contained in sub‐rule (2), in special cases, the Assessing Officer may, with the prior approval of the Joint Commissioner, permit quarterly payment of the tax deducted under section 192 or section 194A or section 194D or section 194H for the quarters of the financial year specified to in column (2) of the Table below by the date referred to in column (3) of the said Table:‐
SrNo
Quarter ended On
Date of payment
1
30th June
7th July
2
30the September
7th October
3
31st December
7th January
4
31st March
30Th April

Due Dates For ETDS returns (Form 24Q for salary and 26Q for contractors others ,27Q for Non-resident

Due date ETDS return 24Q, 26Q 27Q and Form16 ,Form 16A
Sl. No.
Quarter ending
From 01.11.2011 on wards For Govt offices 
For other deductors
Etds return
Form 16A
Etds return
Form 16A
1
30th June
31st July
15th August
15th July
30th July
2
30th September
31st October
15th November
15th October
30th October
3
31st December
31st January
15th Feburary
15th January
30th January
4
31st March
15th May 
30th May        (31st May   for form 16)
15th May
30th May        (31st May for form 16)



Download Full Notification 41/2010.right click on link and select save target as or save link as as the case may be "
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  1. If I am not wrong there is a typo error in period to issue of 16A (mentioned below)

    Due date for Form 16A quarter four (01.04.2012 to 31.03.2012) is 30.05.2012

    ReplyDelete
  2. Sir, I received bill from one of the contractor in July,12. The bill for Rs. 39,346/- towards software support charges is of dated 30th march, 2012. We deducted tds 2% from their bill and paid the bill amount.

    Now we have to deposit tds in govt treasury. Now please let me know how much interest we will have to pay,if the due date was 30.04.12. i.e. interest @15% from 1.5.12 to till today's date.

    Kindly let me know.

    Thanks and regards,

    ganesh

    ReplyDelete
    Replies
    1. Please provide more information .

      Have you made any provision in books for this bill as on 31.03.2012 or not ?

      Have you make any provision in books at the time of presentation of the bill (in July) ?,provide date or

      Bill has been debited to expense account at the time of payment . Please provide date of payment to contractor and date of payment of tds .


      Delete
  3. can refund be claimed if tds is not deposited by the employer within time period.

    ReplyDelete
  4. dear
    i want to know, i could not filled my tds return 2nd qtr 24Q 7 26Q in 15th oct-12, how much panalty we have to pay, 24Q % 26Q till date 15th jan-13, while 24q salay rturn is nill...we have to pay panaly of rs 200 for nil return n how much .....pl. write me breaf or example.
    waiting urs warms response,
    rds,
    ashok

    ReplyDelete
    Replies
    1. penalty can not be more than the tds amount , as the tds amount is nil, penalty will be nil.
      http://www.simpletaxindia.net/2012/05/penalty-on-late-filing-of-etds.html
      Further nil return is not compulsory

      Delete
  5. hi sir
    i have made excess payment for TDS than collected.
    is there any provision to adjust excess amount in next Quarter.
    please help me out.
    mohit.lungikar@yahoo.in

    ReplyDelete
    Replies
    1. In our view you can adjust the excess amount in next quarter

      read how you can do this here

      http://www.simpletaxindia.net/2009/02/etds-two-quarter-one-challan-what-to-do.html

      Delete
  6. Sir
    Is it mandatory to file nil tds return? if no, then could you please quote supporting section in this regard

    ReplyDelete