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The TDS/TCS submission deadline is March 07, 2025. Late deposits can lead to penalties, interest, and prosecution. Corporates must use Challan No. ITNS 281 for electronic deposits.
TDS filing due date on March 07.
TDS Filing Due Date For FY2024-25: The deadline for submitting Tax Deducting or Collecting tax at Source (TDS/TCS) is approaching. Those who are bound to pay tax can do so on or before the due date on March 07, 2025 to avoid applicable penalties.
Individuals or entities deducting or collecting tax at source (TDS/TCS) must deposit it to the Central Government’s credit and file a TDS statement by the due date.
Understanding TDS And TCS
Tax Deducted at Source (TDS) ensures consistent revenue for the Government. It mandates income payers to deduct tax from specific payments at predetermined rates and deposit it to the Central Government’s account within the stipulated time.
Tax Collected at Source (TCS) targets businesses dealing in goods like alcoholic liquor, scrap, and forest products. Sellers collect tax from buyers during specific transactions and deposit it to the Central Government.
TDS/TCS Deposit Procedure
Corporate taxpayers and those subject to tax audits under section 44AB must deposit TDS/TCS electronically. The deductor/collector uses Challan No. ITNS 281 for this purpose.
TDS/TCS Deposit Due Dates
The due dates for TDS/TCS deposit vary based on the deductor/collector type and payment mode.
| Type of Deductor/Collector | Mode of payment of TDS/TCS | Due Date for deposit of TDS/TCS |
| Office of Government | Without Income-tax Challan | On the same day on which tax is deducted/collected |
| Office of Government | With Income-tax Challan ITNS 281 | Within 7 days from the end of the month in which tax is deducted/collected |
| Other Deductor | Monthly – With Income-tax Challan ITNS 281 | • For April-February Month: Within 7 days from the end of the month in which tax is deducted |
| • For March Month: On or before April 30 | ||
| Other Deductor (where AO permitted quarterly deposit of TDS) | Quarterly – With Income-tax Challan ITNS 281 | • Quarter 1: On or before July 7 |
| • Quarter 2: On or before October 7 | ||
| • Quarter 3: On or before January 7 | ||
| • Quarter 4: On or before April 30 | ||
| Other Collector | With Income-tax Challan ITNS 281 | Within 7 days from the end of the month in which tax is collected |
Consequences Of TDS/TCS Deposit Failure
Failure to deduct/collect or deposit TDS/TCS to the Central Government’s account makes the responsible person an “assessee in default.” This can lead to penalties, interest charges, and potential prosecution under section 276B for deducting tax but failing to deposit it.
Here’s The Direct Link To File TDS/TCS
You can file your TDS/TCS through this link.
