Due Date – March 2012 TDS Payment & March Quarter TDS Statement

Due Date for Payment of March 2012 TDS and Due Date for Filing March Quarter TDS Statement

Due date for payment of TDS in respect of payments/Credit Related to March 2012 (Including the Expenses/Provisions/ Credits on 31^St March) is April 30. So those who have not made TDS payment by 7^th April can relax and pay the same by 30^th April without any late payment Interest and without worrying for disallowance of expenses.  The amendment in due date is made vide Notification No. 41/2010 dated 31 May 2010 (new Notification), notified Income-tax (Sixth Amendment) Rules, 2010 which amends the Rules. The Notification is effective from 1 April 2010 and applies to tax deducted/collected on or after 1 April 2010.

So now the time limit for deposit of TDS for the entire month of March is rationalized to 30 April instead of two separate time limits viz. 7 April for TDS up to 30 March and 31 May for TDS as of 31 March.

Deductors will also need to note that the time limit for filing quarterly TDS statements for last quarter of FY has been advanced to 15 May instead of 15 June.

Related posts:

1. Last date for payment of advance tax is March 15, Pay Tax to avoid Interest
2. Recent changes in eTDS Statement Filing Requirements applicable from 2nd quarter of financial year 2010-11 – FVU 3.0
3. Expenses paid or credited in the month of March are allowable if TDS paid on or before due date of filing Income Tax Return
4. CBDT may allow companies to adjust the FBT paid against the advance tax due in the March quarter
5. Mid-Quarter Review of Monetary Policy 2010-11 at 12 noon on March 17, 2011