TDS Return date extended for Q4 2021

The last date to file Q4 TDS return extended to 15th July

The Statement of TDS (TDS Return) for quarter four of the Financial Year 2020-21, required to be furnished on or before 30th June 2021 may be furnished on or before 15th July 2021.

The CBDT, through Notifications nos. 74/2021 & 75/2021 dated 25th June 2021 Circular no. 12/2021 dated 25th June 2021, has extended this compliance timeline.

Earlier, the last date of filing Tax Deducted at Source (TDS) return for the fourth quarter of the financial year 2020-21 was extended to June 30, according to the circular issued by the Income Tax department.

The original due date of filing TDS return was 31st May 2021 for the quarter ending Mar 2021, this was extended to 30th June 2021, and now it is further extended to 15th July 2021.

This is considered a big relief for the TDS deductors since these returns involve a lot of records and data to be reported correctly.

To ease compliances to be made by taxpayers during the Covid-19 pandemic, CBDT has extended the date of meeting certain tax compliances. Relief has also been given in filing the response to various notices.

Read: CBDT Extends Many compliance Dates

In the new TDS return filing forms, one column has been added for those employees who want to opt for the new tax regime (once the opt-out option is availed, it can’t be reversed). Accordingly, at the time of filing the TDS return, the employer (deductor) has to select the option for those who are going to opt for the new tax regime.

Failure to file your TDS returns within the due date will mean that you will be subject to a late filing fee of Rs.200 per day.

TDS Return Forms:

  • 24Q (TDS from salaries),
  • 26Q (TDS on all payments other than salaries),
  • 27Q (Subtraction of tax from dividend, interest, or any other amount payable to non-residents)
  • 27EQ (Collection of Tax at source)

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