Is TDS Payment Date Extended?

Has TDS payment date been extended?

The date for filing TDS return for February and March have been extended to July 31, 2020.

The March 31 ordinance has enabled provision empowering the central government to further extend due dates to beyond June 30, 2020..

What is the due date for payment of TDS for March 2020?

The normal due date to pay the liability of TDS in the month of March is April, 30, 2020 which falls between March 20 to June 29. In normal circumstances, if the TDS is paid on May 20, 2020 then the deductor has to pay interest @ 1.5 % from March 2020 to May 2020 or 3 months.

What is the penalty for late payment of TDS?

TDS interest for late payment Under Section 201(1A) for late deposit of TDS after deduction, interest payment should be at a rate of 1.5% per month. The calculation of interest is on a monthly basis and not on the number of days i.e. part of a month is considered as a full month.

What if advance tax due date is Sunday?

If on the due dates is Sunday or any holiday then the assesee can deposit the advance tax on next working day. It will treated as advance tax and no penal interest will be charged. … The penal interest at the end of the financial year will be calculated by the delay from the due date of particular installment.

Is there any extension for TDS payment?

No extension, for delayed TDS deposit has been reduced from 18 per cent to 9 per cent. Sonu Iyer, Tax Partner, EY India says, “Revised and belated tax returns for FY 2018-19 due to be filed on or before March 31, 2020 may now be filed up to June 30, 2020.

What is the due date for tax filing FY 2019/20 AY 2020 21?

The due date for the income tax return for the FY 2019-20 (AY 2020-21) has now been extended to November 30, 2020. The returns of income which are required to be filed by 31st July, 2020 and 31st October, 2020 can be filed up to 30th November, 2020.

What if TDS due date falls on Sunday?

As we know, TDS is required to be paid by 7th of next month except for the month of March where the due date is April 30. … Hence, accordingly, if the bank is closed (due to Sunday or holiday or strike) on the due date of payment, the same can be paid on the next working day.

What is the due date for payment of TDS on salary?

When is the due date for deposit of TDS on salary? Deposit of TDS on salary has to made on or before the 7th day of the next month and 30th april for the month of March.

What is the late fee for TDS payment?

Late filing fee Under Section 234E, you will have to pay a fine of Rs 200 per day (two hundred) until your return is filed. You have to pay this for every day of delay until the fine amount is equal to the amount you are supposed to pay as TDS.

Is ITR due date extended?

Income Tax Return filing: The Central Board of Direct Taxes (CBDT) has extended the last date for filing ITR for AY 2019-20 (FY 2018-19). The date has been extended from July 31 to September 30, 2020. … 2512(E) dt 29th July, 2020.” Taxes paid before the new extension will be treated as advance tax.

What is the slab rate for AY 2020 21?

INCOME SLAB AND TAX RATES FOR F.Y. 2020-21/A.Y 2021-22Taxable incomeTax Rate (Existing Scheme)Tax Rate (New Scheme)Rs. 7,50,001 to Rs. 10,00,00020%15%Rs. 10,00,001 to Rs. 12,50,00030%20%Rs. 12,50,001 to Rs. 15,00,00030%25%Above Rs. 15,00,00030%30%3 more rows

What is the rebate for AY 2020 21?

The amount of rebate is 100 per cent of income-tax or Rs. 12,500, whichever is less. For the Assessment Year 2020-21 & 2021-22, a partnership firm (including LLP) is taxable at 30%.

How do I pay late fees for TDS return?

Use Challan ITNS 281 to pay the above with your relevant Banker or use any other Challan, which has adequate balance available. Download the Conso File from Traces portal. In case of payment towards late filing fee, please Tag the challan towards the payment, in the “Fee” column” using RPU Ver.