prpri Section 200(3) Forms & Time Limit for Submitting Quarterly TDS Returns Section 200(3) Forms & Time Limit for Submitting Quarterly TDS Returns

Forms for quarterly statement of tax deduction – Section 200(3) of Income Tax Act, 1961 – Forms & Time Limit for Submitting Quarterly TDS Returns

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 No. Particulars
Form 24Q Statement for tax deducted at source from salaries
Form 26Q Statement for tax deducted at source on all payments except salaries
Form 27Q Statement for deduction of tax from interest, dividend or any other sum payable to non-residents
Form 26QB 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.

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Section 200(3) Forms & Time Limit for Submitting Quarterly TDS Returns

Extract of Section 200 of Income Tax Act, 1961

200. (1)  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.

(2) Any person being an employer, referred to in sub-section (1A) of section 192 shall pay, within the prescribed time, the tax to the credit of the Central Government or as the Board directs.

(2A) In case of an office of the Government, where the sum deducted in accordance with the foregoing provisions of this Chapter or tax referred to in sub-section (1A) of section 192 has been paid to the credit of the Central Government without the production of a challan, the Pay and Accounts Officer or the Treasury Officer or the Cheque Drawing and Disbursing Officer or any other person, by whatever name called, who is responsible for crediting such sum or tax to the credit of the Central Government, shall deliver or cause to be delivered to the prescribed income-tax authority, or to the person authorised by such authority, a statement in such form, verified in such manner, setting forth such particulars and within such time as may be prescribed.

(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.

(Republished with amendments)

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