TDS Quarterly Return Due Date – What is the Filing Procedure and Know about Late Penalty

One essential component of complying with income tax requirements for taxpayers is knowing the deadline for filing tax returns. Knowing these dates is must for the fiscal year 2023–2024 (assessment year 2024–25).  It is essential to be informed about the deadline for filing TDS Quarterly Return 2024 as well as any potential extensions and prevent penalties or late fees.

To easily complete your tax duties, be aware of the deadline for filing tax returns. 31 January 2024 is the deadline for submitting the third quarter TDS return for Assessment Year 2024–2025. All TDS deductions made between October 1, 2023, and December 31, 2023 are subject to this. So here i will be sharing TDS Quarterly Return Due Date 2024, TDS Quarterly 2024 Filing Procedure. And i will enlighten you on TDS Quarterly Return Late Penalty 2024 so check this page.

TDS Quarterly Return Due Date

The third quarter TDS Return for Assessment Year 2024–2025 must be submitted by 31 January 2024. This will be based to all TDS deductions made in the period of 1 October 2023 to 31 December 2023. The last date for filing income tax return is 31st July of every financial year. However, the date for filing income tax returns keeps getting extended. There is an option to file income tax both online and offline.

When the last date for filing income tax returns approaches, people become nervous. In a hurry, many times people fill wrong information due to which income tax notice is issued to them. Considering everything, it can be said that whether a businessman or a salaried person, should file TDS Quarterly Return 2024 on time.

TDS Payment Due Dates 2024

QuarterQuarter PeriodQuarter EndingDue Date
First QuarterApril to June30th June15th July 2023
Second QuarterJuly to September30th September15th Oct 2023
Third QuarterOctober to December31st December15th Jan 2024
Fourth QuarterJanuary to March31st March15th May 2024

What is TDS return filing?

The deductor is required to file TDS returns in addition to submitting taxes. The IT department must get a quarterly statement from the TDS return filing. Timely submission of the TDS returns is must and you may file your TDS return via online mode. Details appear on Form 26 AS upon submission of the TDS returns.

Here i have told you everything about TDS and so you will have enough information on this statement to be filled to the ITD. When submitting the TDS returns, the following details need to be included, so please check it:

  • PAN card.
  • Amount of tax that is paid to the government
  • TDS challan information
What is the Filing Procedure and Know about Late Penalty

What is TDS Return?

TDS is a part of income tax, as the tax collected on the source of income of a person is called TDS. It is deducted on different types of income sources like salary, interest or commission on any investment etc. The ITD on behalf of government of India collects tax via TDS but this does not apply to every income and transaction.

Some rules for deducting TDS have been prescribed by the ITD. Any paying entity deducts a certain amount as TDS. And the deductee will get the certificate of TDS deduction and via this certificate the deductee can claim TDS of the tax paid by him. However, he/she has to make the claim in the financial year.

TDS Payment 2024 Due Date for Sunday or Public Holiday

Tax deduction at source takes place when money is sent to the receiver; the payer sends the tax that has been withheld directly to the government. Anybody who transacts with money is required by law to file TDS, which means that different compliance methods are required. As stipulated by the government of India, the deadline for submitting TDS reports is almost here. For accurate information, complete data on the TDS return filing deadline are necessary.

The approaching TDS return deadline is on a Sunday, which is a public holiday, according to recent information. It is therefore acceptable to pay the TDS on the next working day and you must not forget to file the TDS Return 2024 as per the given TDS Return 2024 Last Date.

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Steps for TDS Quarterly Return 2024 Filing Procedure

  • Join the official website of Income Tax Department
  • Then share your user ID (TAN number), password, captcha code and click on the ‘Login’ button at the bottom.
  • Now you will see the TDS tab, click on it, the option of ‘Upload TDS’ is available there, click on it.
  • Then you will be asked to validate some details related to your TDS Return 2024 and then click on the Validate button at the bottom.
  • On the next page you have the option to upload your TDS report.
  • If you want to authenticate your return with digital signature, then you have to download its file. Then upload the signature file by clicking on the upload button below.
  • As soon as the TDS return upload is completed, a message about its successful completion appears on the screen. Information in this regard is also sent to your registered email id.

TDS Quarterly Return Late Penalty 2024

  • There will be a penalty of Rs. 200 per day for each day that the TDS statement is not provided on time.
  • A minimum penalty of Rs 10,000 (which can go up to Rs 1,00,000) may be imposed if the TDS statement is not filed within a year of the date on which the TDS return is due. Delay in filing the TDS statement for more than a year after the date on which the TDS return is due.
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