Due date for TDs return

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This discussion clarifies the due date for filing TDS returns for the quarter ending 31st March 2020. It also addresses the applicable interest rates for delayed TDS payments under sections 194A and 194C, noting a reduced rate of 0.75% per month for delays until 30th June 2020, after which the standard rate applies. The query also seeks confirmation on a notified 25% reduction in TDS rates for certain sections.

Nikhil Sharma

Nikhil Sharma (Querist)
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11 July 2020 Dear Experts.
Pls clarify the due date for filing TDS return quarter ending 31/3/2020.

Also clarify the interest rate on delay of TDs payment for section 194A & C

Thanks
Nikhil

CA ANKIT GADA

CA ANKIT GADA (Expert)
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12 July 2020 31/7/2020 and late payment interest rate is 18% p.a

Nikhil Sharma

Nikhil Sharma (Querist)
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12 July 2020 Sir!
Interest is 9% or 18%

Also as per recent press release from 14/05/2020 to 31/03/2021 TDs rate is reduced by 25% with relate to certain sections, whether this reduction has been notified or not if yes! Pls let me know the notification no.

CA ANKIT GADA

CA ANKIT GADA (Expert)
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12 July 2020 The reduced rate of interest of 0.75% for every month or part thereof will be charged for the period of delay.

If payment will be made after 30th June 2020 then normal provisions of act i.e 1.5% will apply.

Nikhil Sharma

Nikhil Sharma (Querist)
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12 July 2020 Ohkk! Sir
Reduction of TDs @25% has been notified or not

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