#31a(2)

TDS Traces sites levying penalty for late filing of TDS return for first Quarter The question which is remerging again and again is whether the TDS Return Due Date for 1st Quarter of the FY 2020-21 is extended or not? The question is remerging for the reason that the person who is filing TDS return for the first quarter on 1st August or 2nd august, the TDS traces site is calculating the late fee in all such cases.  Let us revisit the entire issue, reasons & the remedy. Normally, TDS Provision requires Quarterly filing of TDS return and thereafter issue of TDS certificate to the Deductee. Exception is in respect of TDS in respect of property and rent covered by section 194-IA & 194IB wherein TDS return cum challan is to be done on monthly basis. The normal due date of filing TDS return and issue of TDS certificate is contained in section 200(3) of the Income Tax Act read with Rule 31A of Income Tax Rules, 1962. Rule 31A(1)(b)(ii), 31A(2), 31(3) requires filing of quarterly TDS statements u/s 200(3) in Form No. 26Q & issue of TDS certificate in Form No. Read the full article