TDS or Tax deducted at source has to be deposited on timely basis by the assesses.It is the duty of the deductor to deposit the TDS before the due dates.The deductor should have a valid TAN.
It is mandatory to deposit TDS online for :
- All Corporate assesses and
- Other assesses liable to tax audit Under Section 44 AB.
You can deposit online TDS through Challan ITNS – 281.Just fill the necessary details and make the online payment of TDS.
Following are the Due dates for deposit of TDS :
| Government Deductor | Due Date of Deposit |
|---|---|
| Tax deposited without challan | Same day |
| Tax deposited with challan | 7th of next month |
| Non Government Deductor | Due Date of Deposit |
|---|---|
| TDS for March | 30th April of next financial year |
| TDS for other months | 7th of next month |
- If the Tax deducted at source or TDS is deposited by assesses after the due date, he shall be liable to pay interest @ 1.5% for every month or part of month.
- Interest shall be charged from the date of deduction and not from the due date.
Example : If TDS for the month of December has been deducted on 31st December,the due date shall be 7th of January.But if assessee deposits TDS after 7th Jan, he shall be liable to pay interest from 31st Dec and not from 7th January.
For timely filing of TDS returns, also go through : Due dates for TDS return filing
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