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Is due date extended payment of TDS/TCS for the Month of March2020

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Murugaperumal Jayaraman

23 Points Posted on 30 April 2020

Whether due date extended?

Replies (2)

Quick Summary

This discussion clarifies that while there was no extension to the due dates for TDS/TCS payments for March 2020, a reduced interest rate of 9% per annum was applied to delayed payments made between 20th March and 30th June 2020. This lower rate replaced the standard 12% or 18% interest charges for these specific income tax levies.

Pawan Vemula

284 Points Posted on 30 April 2020

Interest at a reduced rate of 9% p.a. shall be charged instead of 12% or 18% p.a. towards the delayed payment/deposit of the following income tax levies, made between 20th March 2020 and 30th June 2020. Note that there is no extension in the deadlines.

Advance Tax

Tax Deduction at Source (TDS)

Tax Collection at Source (TCS)

Self-assessment tax

Equalisation levy

Security Transaction Tax (STT

Commodity Transaction Tax (CTT)