Saturday, July 14, 2012

DUE DATE ETDS RETURNS QTR-1 15 JULY PENALTY INCREASED NEW FVU 3.5


on Saturday, July 14, 2012

The last date for filing TDS / TCS Returns for the first quarter pertaining to financial year 2012-13 is 15th July 2012 for non govt deductors and 31.07.2012 for Govt deductors. All tax deductor are strongly advised to file their returns on or before this date to avoid the recently enhanced fine and penalty that is effective from 1st July 2012. 

As 15th July 2012 is a Sunday, it is suggested that returns should be filed by 14th July. However, as per the Clause 10 of General Clauses Act 1897, filing returns on 16th July 2012 should be considered as submission on time.But we recommend if  TIN-FC's are accepting returns on Sunday ,15th July ,2012 then we should submit the same on the same date.

As per the newly inserted Section 234E, if a person (deductor) fails to deliver the TDS statement or TDS return in the time prescribed, then the person shall be liable to pay a fine of Rs. 200 for everyday till the default continues subject to a maximum of the total amount of tax deductible . Moreover, there are penalty provisions as defined in Section 271H. (read more about penalty on late filing of Etds return wef 01.7.2012 here)

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,2012
31st July ,2012
15th August ,2012
15th July,2012
30th July,2012
2
30th September,2012
31st October,2012
15th November,2012
15th October,2012
30th October,2012
3
31st December,2012
31st January,2013
15th Feburary,2013
15th January,2013
30th January,2013
4
31st March,2013
15th May ,2013
30th May ,2013     (31st May   for form 16)
15th May,2013
30th May,2013        (31st May for form 16)

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  1. Assessee holding TAN No. has no liability to deduct tax in Qrt-1, Whether he is under statutory liability to file TDS return for NIL. If not filed what are the consequences?

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    Replies
    1. If no deduction then no return is required .If not required then no question of penalty

      http://www.simpletaxindia.net/2007/07/if-there-is-no-deduction-in-particular.html

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