{"id":234,"date":"2020-04-28T10:15:45","date_gmt":"2020-04-28T10:15:45","guid":{"rendered":"https:\/\/www.akgvg.com\/blog\/?p=234"},"modified":"2020-12-28T06:21:04","modified_gmt":"2020-12-28T06:21:04","slug":"tds-deposit-due-date-30-april-or-30-june","status":"publish","type":"post","link":"https:\/\/www.akgvg.com\/blog\/tds-deposit-due-date-30-april-or-30-june\/","title":{"rendered":"TDS Deposit Due Date \u2013 30 April or 30 June?"},"content":{"rendered":"<p style=\"text-align: justify;\">As per the provisions of the Indian Income tax law, Tax Deducted at Source (TDS) on payments\/credits made during the month of March, needs to be deposited latest by 30 April.<\/p>\n<p style=\"text-align: justify;\">In wake of Covid-19, Indian government issued an ordinance on 31<sup>st<\/sup> March 2020, giving relief to tax payers from various tax compliances, adherence of which were difficult due to the \u00a0lockdown scenario. The due dates for the compliances as mentioned in the ordinance have been extended to 30<sup>th<\/sup> June, 2020.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-869\" src=\"https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2020\/04\/TDS-Deposit-Due-Date-\u2013-30-April-or-30-June-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1700\" srcset=\"https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2020\/04\/TDS-Deposit-Due-Date-\u2013-30-April-or-30-June-scaled.jpg 2560w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2020\/04\/TDS-Deposit-Due-Date-\u2013-30-April-or-30-June-300x199.jpg 300w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2020\/04\/TDS-Deposit-Due-Date-\u2013-30-April-or-30-June-1024x680.jpg 1024w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2020\/04\/TDS-Deposit-Due-Date-\u2013-30-April-or-30-June-768x510.jpg 768w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2020\/04\/TDS-Deposit-Due-Date-\u2013-30-April-or-30-June-1536x1020.jpg 1536w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2020\/04\/TDS-Deposit-Due-Date-\u2013-30-April-or-30-June-2048x1360.jpg 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<p style=\"text-align: justify;\">On account of the above-stated ordinance, <strong><a href=\"https:\/\/www.akgvg.com\/taxation\">tax-payers<\/a><\/strong> heaved a sigh of relief and felt that they need not undertake any TDS compliance as of now. However, it may be noted that there is no extension in due date for deposit of TDS and the <strong><u>due date for deposit of TDS for the month of March 2020 still stands at 30<sup>th<\/sup> April 2020<\/u><\/strong>.<\/p>\n<p style=\"text-align: justify;\">In this regard, one may note that the reliefs from TDS provisions provided by the ordinance are as under:<\/p>\n<ul style=\"text-align: justify;\">\n<li>If the TDS is deposited latest by 30 June 2020 &#8211;<\/li>\n<li>Delay in depositing TDS for the month of March will invite a reduced interest of 0.75% per month instead of the existing rate of 1.5% per month.<\/li>\n<li>No penalty shall be levied on account of the above delay.<\/li>\n<li>No prosecution shall be sanctioned on account of the above delay.<\/li>\n<li>Due date for filing TDS returns have been extended from 31<sup>st<\/sup> May, 2020 to 30<sup>th<\/sup> June, 2020.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Given the above, it may be inferred that interest @ 0.75% per month will be levied for any delay in depositing TDS \u2013<\/p>\n<ul style=\"text-align: justify;\">\n<li>beyond 30<sup>th<\/sup>April, 2020 for the month of March 2020<\/li>\n<li>beyond 7<sup>th<\/sup>May, 2020 for the month of April 2020; and<\/li>\n<li>beyond 7<sup>th<\/sup>June, 2020 for the month of May 2020.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Further, the reduced rate of interest and relief from penal and prosecution provisions will be applicable <strong><u>only if the TDS is deposited on or before 30<sup>th<\/sup> June, 2020<\/u><\/strong>.<\/p>\n<p style=\"text-align: justify;\">Hence, it is advisable that the tax- payers should deposit the TDS on or before the due dates to avoid any repercussions. In a case,where on account of lock-down, the tax payer is facing any sort of difficulty in computing the TDS liability, one may deposit TDS on an estimated basis so that interest on late payment is applicable only on\u00a0 the shortfall, if any. In case of any excess, the same can always be adjusted towards the TDS liability for FY 2020-21.<\/p>\n<p style=\"text-align: justify;\">Posted by: Amit Kumar Garg<\/p>\n<p style=\"text-align: justify;\">Designation: Managing Partner<\/p>\n<p style=\"text-align: justify;\">Organization: AKGVG &amp; Associates<\/p>\n<p style=\"text-align: justify;\">Mobile no: +91-9818330516<\/p>\n<p style=\"text-align: justify;\">E-mail: amit.garg@akgvg.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As per the provisions of the Indian Income tax law, Tax Deducted at Source (TDS) on payments\/credits made during the month of March, needs to be deposited latest by 30 April. In wake of Covid-19, Indian government issued an ordinance on 31st March 2020, giving relief to tax payers from various tax compliances, adherence of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[6,71,70],"class_list":["post-234","post","type-post","status-publish","format-standard","hentry","category-direct-tax","tag-income-tax","tag-income-tax-due-date","tag-tds-deposit-due-date"],"_links":{"self":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/comments?post=234"}],"version-history":[{"count":2,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/234\/revisions"}],"predecessor-version":[{"id":870,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/234\/revisions\/870"}],"wp:attachment":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/media?parent=234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/categories?post=234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/tags?post=234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}