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200(3) Any person deducting any sum on or after the 1st day of April, 2005 in accordance with the foregoing provisions of this Chapter or, as the case may be, any person being an employer referred to in sub-section (1A) of section 192 shall, after paying the tax deducted to the credit of the Central Government within the prescribed time, prepare such statements for such period as may be prescribed and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed:

Provided that the person may also deliver to the prescribed authority a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered under this sub-section in such form and verified in such manner as may be specified by the authority.

Forms for quarterly statement of tax deduction

Any person deducting any sum in accordance with the foregoing provisions of this Chapter shall pay within the prescribed time, the sum so deducted to the credit of the Central Government or as the Board directs. Further, quarterly TDS Return is required to be filed by the assessee who has deducted the TDS. TDS Returns include fields like TAN No., TDS Payment, amount deducted, type of payment, PAN No. etc.

Section 200(3)   Forms And Time Limit For Submitting Quarterly Statement of Tax Deduction (TDS Returns)

Form No.

Particulars

Form 24Q

Statement for tax deducted at source from salaries

Form 26Q

Statement for tax deducted at source on all payments except salaries

Form 27Q

Statement for deduction of tax from interest, dividend

or any other sum payable to non-residents

Form 26QB

For Section 194IA separate return is not required, challan cum return to be filed on Form 26QB to be deposited within a period of 30 days(w.e.f.01.06.2016) from the end of the month in which the deduction is made

Time Limit for filing the above quarterly statements of tax deduction (popularly known as TDS Returns)

A return of TDS is a comprehensive statement containing details of payment made and taxes deducted thereon along with other prescribed details. As per section 200(3) of the Act, the Due Date for filing TDS Return (both online as well as physical w.e.f. 01.06.2016) is as follows:

 

Quarter ending on

Due Date

30th June

31st July of the financial year

30th September

31st October of the financial year

31st December

31st January of the financial year

31st March

31st May of the financial year immediately following the financial year in which deduction is made

 

Note: 'Nil' TDS return is not mandatory, however, to facilitate the deductors and update data government has provided a facility for declaring nil TDS return.

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Category Income Tax, Other Articles by - CA.R.S.KALRA 



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