Section 200(3) Forms & Time Limit For Submitting Quarterly Statement of Tax Deduction (TDS Returns)
Forms for quarterly statement of tax deduction
Any person deducting any sum in accordance with the foregoing provisions of this Chapter shall pay within the prescribed time, the sum so deducted to the credit of the Central Government or as the Board directs. Further, quarterly TDS Return is required to be filed by the assessee who has deducted the TDS. TDS Returns include fields like TAN No., TDS Payment, amount deducted, type of payment, PAN No. etc.
|Form 240||Statement for tax deducted at source from salaries|
|Form 260||Statement for tax deducted at source on all payments except salaries|
|Form 270||Statement for deduction of tax from interest, dividend or any other sum payable to non-residents|
|Form 260B||For Section 194IA separate return is not required, challan cum return to be filed on Form 26QB to be deposited within a period of 30 days (w.e.f.01.06.2016) from the end of the month in which the deduction is made|
Time Limit for filing the above quarterly statements of tax deduction (popularly known as TDS Returns)
A return of TDS is a comprehensive statement containing details of payment made and taxes deducted thereon along with other prescribed details. As per section 200(3) of the Act, the Due Date for filing TDS Return (both online as well as physical w.e.f. 01.06.2016) is as follows:
|Quarter ending on||Due Date|
|30th June||31st July of the financial year|
|30th September||31st October of the financial year|
|31st December||31st January of the financial year|
|31st March||31st May of the financial year immediately following the financial year in which deduction is made|
Note:“Nil” TDS return is not mandatory, however to facilitate the deductors and update data government has provided a facility for declaring nil TDS return.
Extract of Section 200(3) of Income Tax Act, 1961
200 (3) Any person deducting any sum on or after the 1st day of April, 2005 in accordance with the foregoing provisions of this Chapter or, as the case may be, any person being an employer referred to in sub-section (1A) of section 192 shall, after paying the tax deducted to the credit of the Central Government within the prescribed time, prepare such statements for such period as may be prescribed and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed:
Provided that the person may also deliver to the prescribed authority a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered under this sub-section in such form and verified in such manner as may be specified by the authority.