Statement of deduction of tax under section 200(3) [Quarterly Statement of TDS]:
4.9.1. The person deducting the tax (employer in
case of salary income), is required to file duly verified Quarterly
Statements of TDS in Form 24Q for the periods [details in Table below]
of each financial year, to the Director General of Income Tax (Systems),
ARA centre, Jhandewalan Extn., New Delhi or TIN/facilitation Centres
authorized by DGIT (System's) which is currently managed by M/s National
Securities Depository Ltd. (NSDL). The requirement of filing an annual
return of TDS has been done away with w.e.f. 1-4-2006. The quarterly
statement for the last quarter filed in Form 24Q (as amended by
Notification No. S.O.704(E), dated 12-5-2006) shall be treated as the
annual return of TDS. Due dates of filing this statement quarterwise is
as in the Table below.
TABLE: Dates of filing Quarterly
Statements E-TDS Return 24Q
| Sl. No | Return for Quarter ending | Due date for Government Offices | Due date for Other Deductors |
| 1 | 30th June | 31st July | 15th July |
| 2 | 30th September | 31st October | 15th October |
| 3 | 31st December | 31st January | 15th January |
| 4 | 31st March | 15th May | 15th May |
4.9.2. The statements referred above may be
furnished in paper form or electronically in accordance with the
procedures, formats and standards specified by the Director General of
Income-tax (Systems) along with the verification of the statement in
Form 27 A.
4.9.3. All Returns in Form 24Q are required to be
furnished in computer media except in case where the number of deductee
records is less than 20. This is in accordance with the "Electronic
Filing of Returns of Tax Deducted at Source Scheme, 2003" as notified
vide Notification No. S.O. 974 (E), dated 26-8-2003 read with
Notification No. SO 1261(E), dated 31-5-2010. Deductors have to file
quarterly statements with the e-TDS Intermediary at any of the TIN
Facilitation Centres, particulars of which are available at
http://www.incometaxindia.gov.in and at http://tin-nsdl.com.
4.9.4 Fee for default in furnishing statements (Section 234E):
If a person fails to deliver or caused to be delivered a
statement within the time prescribed in Section 200(3) in respect of tax
deducted at source on or after 1-7-2012 he shall be liable to pay, by
way of fee a sum of Rs. 200 for every day during which the failure
continues. However, the amount of such fee shall not exceed the amount
of tax which was deductible at source. This fee is mandatory in nature
and to be paid before furnishing of such statement.
4.9.5 Penalty for failure in furnishing statements (section 271H):
If a person fails to deliver or caused to be delivered a
statement within the time prescribed in section 200(3) in respect of tax
deducted at source on or before 30-6-2012, he shall be liable to pay,
by way of penalty, a sum of Rs. 100 for every day during which the
failure continues, [section 272A(2)(k)]. However, the amount of such fee
shall not exceed the amount of tax which was deductible at source.
If a person fails to deliver or caused to be delivered a
statement within the time prescribed in section 200(3) in respect of tax
deducted at source on or after 1-7-2012, he shall be liable to pay, by
way of penalty a sum which shall not be less than Rs. 10,000/- but which
may extend to Rs 1,00,000/-. However, the penalty shall not be levied
if the person proves that after paying TDS with the fee and interest, if
any, to the credit of Central Government, he had delivered such
statement before the expiry of one year from the time prescribed for
delivering the statement.
4.9.6 Penalty for furnishing incorrect information (section 271H)
If a person furnishes incorrect information in the
statement in respect of tax deducted at source on or after 1-7-2012, he
shall be liable to pay penalty which shall not be less than Rs. 10,000/-
but which may extend to Rs. 1,00,000/-.
4.9.7. At the time of preparing statements of tax deducted, the deductor is required to mandatorily quote:
(i) his tax deduction and collection account number (TAN) in the statement;
(ii) quote his permanent account number (PAN)
in the statement except in the case where the deductor is an office of
the Government including State Government). In case of Government
deductors "PANNOTREQD" to be quoted in the e-TDS statement;
(iii) quote the permanent account number PAN of all deductees;
(iv) furnish
particulars of the tax paid to the Central Government including book
identification number or challan identification number, as the case may
be.
(v) furnish particular of amounts paid or
credited on which tax was not deducted in view of the issue of
certificate of no deduction of tax u/s 197 by the assessing officer of
the payee.
