TDS Return Due Dates for FY 2023-24

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TDS Return Due Dates for FY 2023-24

Filing income tax returns on time is mandatory for all taxpayers in India. There are different forms of tax; one such type is tax deducted at source. When an individual or company makes a payment to another party, then a tax is deducted at the source at a specified rate.

The deducted tax is deposited to the government. However, individuals or entities also need to file TDS before the due date. The income tax authority has decided the due date for filing the TDS return on time.

Failing to file within the TDS challan due date can invite serious consequences from the authorities. In this guide, we will learn in detail about the TDS filing due date.

What is TDS?

TDS, which is also known as tax deducted at source, is an income tax that the government or authority collects from the income of the recipient instantly after earning. The TDS is deducted at a specified rate decided by the authority.

As per the Income Tax Act, an individual or company can deduct TDS from their income if the payment or amount received crosses the specified limit. The government decides the TDS rate and threshold limit for services and goods for a financial year.

Different Types of Payment and TDS Rates

Below is the table mentioning the different types of payment and their TDS rates.

Type of Payment (Based on Services) TDS Rates
Salaries Depends on the tax slab.
Buying of Immovable property of over ₹50,00,000. 1%
Rental charges of more than ₹2,40,000 for apartments, buildings, plants, and machinery. 2% for machinery and plant  and 10% for land.
Commission or brokerage for the lottery ticket sale for more than ₹15,000. 5%
Prize money or amount for winning a horse race, lottery, etc, for over ₹10,000. 30%
Sigel payment of 30,000 or aggregate payment of 1 00,000 to a contractor. 1% for HUFs or individuals and  2% for other parties.

TDS Deduction Example

A company, XYZ, has lent a store or warehouse from owner A. XYZ pays a monthly rent of ₹40,000 per month, and yearly rent is ₹4,80,000. The threshold rent limit for company XYZ is ₹2 40, 000.

The TDS amount of ₹4,000 will be deducted monthly from the rent amount at a rate of 10% and deposited as a rental charge to the authorities. The warehouse owner will get a rent amount ₹36,000 per month.

Warehouse owner A can list ₹4,80, 000 as gross income in their income tax return. The person A can claim deducted TDS amount of ₹48,000 while filing the return.

Different Forms for Filing TDS Returns

The individual or entity whose TDS has been deducted needs to show the government that TDS has been deducted. This means they need to provide the details in challan-cum-statement form. Below are the different types of forms for making payments to ensure meeting the TDS payment due date:

TDS Form NO Description
Form 24Q Quarterly TDS deduction on salary.
Form 27Q Quarterly TDS deduction on making payments to foreign companies or non-residents other than salary.
Form 26Q Quarterly TDS deduction on interest payment, professional fees and more.

Due Date for Filing TDS Return

The TDS return due date for FY 2023-24 is shown below.

Quarter Ending Deduction Month TDS Payment Due Date TDS Return Due Date
45107 45017 45053 45138
45107 45047 45084 45138
45107 45078 45114 45138
45199 45108 45145 45230
45199 45139 45176 45230
45199 45170 45206 45230
45291 45200 45237 45322
45291 45231 45267 45322
45291 45261 44933 45322
45382 45292 45329 45443
45382 45323 45358 45443
45382 45352 7 April 2024 (for tax deducted by govt. office) 45443
45382 45352 30 April 2024 (for other deductors) 45443

Penalty for Filing TDS Payment After Due Date

If the TDS payment is made after the due date or if there is a mistake or error in the forms, then the person has to face the below-mentioned penalties:

Penalty under Section 234E

  • As per Section 234E, if the person fails to file a TDS challan within the due date, then the person who collects or deducts TDS needs to pay a monetary fine of ₹200 per day until the TDS is filed. The maximum fine amount is equal to the amount of TDS.

  • For example, person A deducted the TDS of ₹5000 on 15 May 2023 and filed the TDS return on 18 Nov 2023 instead of the due date of 31 July 2023. Then, the delay is 110 days. The fine amount, as per calculation, needs to be 110*₹200=₹22000.

  • But since this calculated amount is more than the TDS amount, which is ₹5000, in that case, person A needs to pay a fine equal to the TDS amount, which is ₹5000. Besides this, person A also needs to pay interest for delay in depositing TDS.

Penalty under Section 271H

  • As per Section 271H, the person who files after the TDS quarterly return due date needs to pay a fine ranging from ₹10,000 to ₹100,000. The assessing officer decides the fine amount.

  • This section also ensures a penalty for incorrect TDS submission. However, there are conditions within the Section 271H where no penalty is applied, such as:

  • The tax deducted or collected at the source is paid to the credit of the government.

  • The late filing fees and interest are paid to the credit of the government.

  • TDS filed before the expiry period or date of one year from the due date as specified on behalf.

Penalty or Prosecution under Section 276B

  • If the person fails to pay TDS credit to the central government under the provisions of Chapter XVII-B, then that case can lead to imprisonment of 3 months, which can be extended up to 7 years plus the monetary fine.

Interest on Late TDS Filing After Due Date

Section Nature of late payment or default Interest is subject to the TDS amount Period or duration for which TDS interest needs to be paid
Section 201(1A)(i) TDS not deducted (partly or fully) 1% per month The date from which tax is deductible to the date at which tax is actually deducted.
Section 201(1A)(ii) TDS not deposited to the government after deduction (partly or fully) 1.5% per month From the date of tax deduction to the actual date of TDS payment to the government. 

Section 201(1A) also states that the interest rate is liable for late deposits of TDS after deduction.

The rate applied in that case is 1.5% per month from the date of the TDS deduction to the actual date when the TDS is paid or deposited. This is calculated based on a month, not on days; part of a month is also considered a full month in that case.


Filing a TDS return within the due date is mandatory to avoid fines and penalties from the authorities. It also ensures the collection of taxes on a regular basis. Further, if the person files the TDS quarterly return within the due date, then the burden of lump sum payment will be reduced.

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Disclaimer / TnC

Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.

Related Articles

What is TDS payment due date for March?

What is TDS payment due date for March?


Deductor should deposit the TDS for the month by the 7th of next month. However, for the deduction made in March, the closing date is 30 Apr.

What is the TDS rate for FY 2023-24?


The TDS is deducted at different rates. It depends on the type of payment. For salary, the TDS deduction rate depends on the tax slab.

What happens if the due date for filing TDS return is missed?


If the TDS return due date for FY 2023-24 is missed, the individual must pay a decided fine and interest to the authority when filing the returns.