Time Limit to Deposit TDS & TDS Certificate [A.Y.2017-18]

Now, you all know who is responsible to deduct TDS and on which payment they are liable to deduct TDS in our previous articles. But now it is the primary duty of the deducter to deposit TDS to the government account on behalf of deductee/payee. So deductees can claim it on their income tax returns.

Time to Deduct TDS

It should be done at the time of credit to the payee’s account or payment thereof, whichever is earlier.

Tax is to be deducted at source at the time of credit to the payee’s account or on accrual of the payment at the end of the accounting year or at the time of payment in cash or by cheque or draft or any other mode, whichever is earlier.

TDS should be deposited into the Govt. account within the prescribed time along with Challan No.281 or e-payment of TDS through NSDL website.

E-payment of TDS is mandatory for those who are required to get their accounts audited u/s 44AB and all companies. The E-payment can be made by internet  banking, debit card or credit card. See how to pay income tax online?

Time-Limits to Deposit TDS

Where tax is deducted by the office of the Government: 

  • on or before 7 days from the end of the month in which the deduction is made; and
  • on the same day where the tax is paid without production of income tax challan.

In any other cases,

  • on or before 7 days from the end of the month in which the deduction is made; and
  • on or before 30th day of April, where the income or amount is credited or paid in the month of March.

The assessing officer may allow any person to deposit TDS quarterly as given below:

TDS on salaries, or interest other than interest on securities, or insurance commission, or commission or brokerage

  • – 7th July, 7th October, 7th January, 30th April

Time-Limit for Issue of TDS Certificate

Form 16A should be issued within 15 days from the due date for furnishing the statement of tax deducted at source.

Quarter Ending 30th June – Due date 31 July to furnish statement

  • Due date for issue of TDS Certificate is 15th Aug

Quarter Ending 30th September – 31st Oct to furnish statement

  • Due date for issue of TDS Certificate is 15th November 

Quarter Ending 30st December – 31s January to furnish statement

  • Due date for issue of TDS Certificate – 15th February 

Quarter Ending 31st March – 31st May to furnish statement

  • Due date for issue of TDS Certificate is 15th June 

Check Also: Penalty on Failure or Late Payment to Deposit TDS

16 COMMENTS

  1. Sir, i am working at construction company. In this company so many sub contractors working . we paid every week advance amount and balance amount on next month up to 10th.But bill was raised every month ends. Pls guide me how to calculate & how to file TDS on sub contractors (quarterly) .

    • Dear frnd
      if you have paid more then 30000/- advance in one time or in a month to a sub contractor. deduct 1% of total advance paid during the month( if sub cont individuals) otherwise 2%

      if contractor have not valid pan no. then deduct 20%

      thanks with regards
      Pawan sharma

  2. Sir,
    An amount of Rs.17.252/- has been deducted from my pension for the month of 2/2014 by The Director of Accounts,Hyderabad the Drawing Officer being the Sub -treasury officer,Kadapa.The credit particulars are loaded in form 26-AS against my PAN. But when I approached the S.T.O,Kadapa in person for form 16-A, i was informed that it is not received from the D.O.A,Hyderabad and it can be collected after it receipt personally from his office and cannot be sent by post to my address at Mysore where i am residing.So I submitted a self addressed cover to him with a request to post it to my address after it is received from the D.O.A.Hyderabad.I wish to know if it is the duty of the tax payer to collect the form -16A from the drawing officer and the drawing officer does not have any responsibility to see that it reaches the tax payer before the due date of filing return to the I.T.Department.Till now(3/8/2014),i have not received the form 16 to enable me to file the return.What excuse i can have now for not being able to file the return before the statutory due date 31/07/2014.Please guide me.

  3. We are contractor and are doing bank interior contracting.
    the bank always deducts our VAT TDS but never issues us TDS certificate on time and says it is not mandatory to issues us VAT TDS certificate in time.
    But the MVAT rule say the deductor has to issue VAT TDS CERTIFICATE immediately.
    How can we be protected
    please help and reply by mail is possible.
    Thank you
    Decor.

  4. Sir, i am working at construction company. In this company so many sub contractors working . we paid every week advance amount and balance amount on next month up to 10th.But bill was raised every month ends. Pls guide me how to calculate & how to file TDS on sub contractors
    quarterly

  5. a deductor company has deducted TDS in FY 2011-12 & 2012-13, but not deposited the TDS till date. The ITO has not been able to recover the TDS from them. in the meantime, my AO has assessed my return and demanded the tax from me alongwith penal interest. what is the remedy..

  6. sir,
    we are paying as rent of rs 30000 per month and now the tds rate increased to 14% means rs 4200 service tax total of 34200, on which amount i shall deduct the tds for rent @10% on 34200 or basic rent rs 30000 kindly guide me

  7. Tds has been deducted for the FY 2014-15 by the company on FD on my mothers account who is senoir citizen, I had already filed her return and claimed the refund for that particular year,Though i had informed them about the same they still went ahead and deducted the same.
    Now while following the same with the company they informed that the same was deposited in the year 2014-15, now how can i claim this amount Amount is Rs 512/-
    Co.name is KTDFC. Pl guide on this.

    • Hello Lalit, I could not able to understand your query completely. Do you want to say that amount of Rs.512 had missed to claim in return???

LEAVE A REPLY

Please enter your comment!
Please enter your name here