TDS / TCS – Deposit & Filing of Returns
TDS / TCS – deductions / collections during the course of the month needs to be deposited by 7th of the next month i.e. for April, amount needs to be deposited by 7th May. This is similar for all months from April till February. However, as March, being the last month for the financial year, for TDS, the date of deposit is 30th April. For TCS deposits for March, it is 7th April, similar to other months.
Both TDS & TCS Returns need to be filed on completion of each quarter within the following month i.e. for the first quarter, April – Jun, the last date of filing is 31st July. This remains same for the first three quarters. In the last quarter (Jan – Mar), the last date for filing TCS Return is 15th May and TDS Return is 31st May.
Please note that it is applicable to both Govt. and Non-Govt. TAN holders who are making deposits through the Bank Challans.
The dates for both TDS / TCS is similar with some changes which has been detailed in the table below:
| Quarter | Deduction / Collection Month | Due Date for Deposit | Return Filing – Due Date |
| Quarter 4 | April | 7th May | 31st July |
| May | 7th June | ||
| June | 7th July | ||
| Quarter 1 | July | 7th August | 31st October |
| August | 7th September | ||
| September | 7th October | ||
| Quarter 2 | October | 7th November | 31st January |
| November | 7th December | ||
| December | 7th January | ||
| Quarter 3 | January | 7th February | 31st May – TDS 15th May – TCS |
| February | 7th March | ||
| March | 7th April – TCS 30th April – TDS |
Note: For Govt. Deductors making deposits through Transfer Vouchers, it should be done on the same day of Deduction / Collection. Only exception is March, where this is extended till 7th April.
Issue of TDS & TCS Certificates
The different types of Certificates are as under:
- Form 16 – Certificate for TDS of Salary (issued to Employees)
- Form 16A – Certificate for TDS other than Salary
- Form 27D – Certificate for TCS
Form 16A (Non-Salary TDS) & Form 27D (TCS) are to be issued each quarter within 15 days from the due date of return filing. Form 16 (Salary TDS) is to be issued annually (once in a year) within 15 days from the due date of return for the March quarter.
It can be issued in paper format duly signed or may be as digitally signed PDF file.
Refer to the table below for compliance dates:
| Quarter | TDS / TCS Certificate | Last Date of Issue |
| April – June (Q1) | Form 16A (TDS) Form 27D (TCS) | 15th August |
| Jul – Sep (Q2) | Form 16A (TDS) Form 27D (TCS) | 15th November |
| Oct – Dec (Q3 | Form 16A (TDS) Form 27D (TCS) | 15th February |
| January – March (Q4) | Form 16 (TDS) Form 16A (TDS)Form 27D (TCS) | 15th June 15th June30th May |
Here’s taking a look at the TDS Rate Chart for FY 2024-25 (AY 2025-26):
| Section | Nature of payment | Threshold limit | TDS Rates |
| 192 | Salary | Basic exemption | As per Income Tax slab rates |
| 192A | Premature withdrawal of EPF | 50,000 | 10% (PAN required); Rate changes if PAN not provided |
| 193 | Interest on securities | 5,000 | 10% |
| 194 | Dividend | 5,000 | 10% |
| 194A | Interest on deposit in a post office or bank | 50,000 (Senior Citizens) 40,000 (Others) | 10% |
| 194B | Income earned through card games, lotteries, and/or other games | 10,000 | 30% |
| 194BA | Online games earnings | No minimum threshold | 30% |
| 194BB | Earnings from horse races | 10,000 | 30% |
| 194D | Insurance commission payments | 15,000 | Individuals: 5% Companies: 10% |
| 194DA | Life insurance policy payments | 1,00,000 | 5% |
| 194EE | National Savings Scheme payments | 2,500 | 10% |
| 194F | Payment for repurchase of units by Mutual Fund or UTI | No specified limit | 20% |
| 194H | Commission/Brokerage | 15,000 | 5% |
| 194-I | Plant & Machinery rent Rent of Furniture, Building, or Land | 2,40,000 2,40,000 | 2% 10% |
| 194-IA | If Immovable Property is transferred besides agricultural land | 50,00,000 | 1% |
| 194-IB | Rent | 50,000 (per month) | 5% |
| 194K | Earnings from units payable to resident | No specified limit | 10% |
| 194LA | Compensation to acquire immovable property | 2,50,000 | 10% |
| 194N | Cash withdrawal exceeding a specific amount From multiple bank accounts during the previous year Aggregate cash withdrawal exceeding 20 lakh | Cooperative society – 3 crore Others – 1 crore 1 crore 20 lakh | 2% (For all) |
| 194P | For senior citizens who are above 75 years | Basic exemption limit | Normal tax slab rates |
| 194S | Virtual Digital Assets payment | Specified Persons- 50,000 Others- 10,000 | 1% |
| 206AB | Payment made to individuals not filing their ITR | No specified limit | Double the rate mentioned in the I-T Act or 5%, whichever is higher |
| 206AA | In case PAN is unavailable | No specified limit | Rates specified or 20%, whichever is higher |
Contents hide
1 Important amendments introduced vide the Finance Act, 2023 –
1.1 Section 193 – Interest on Securities –
1.2 Section 194B – Winning from lottery/ crossword puzzle –
1.4 Section 194 N – Payments of certain amounts in cash (i.e. cash withdrawals) –
Important amendments introduced vide the Finance Act, 2023 –
Section 193 – Interest on Securities –
With effect from 1st April 2023, provisions of section 193 of the Income Tax Act will be applicable to payments relating to interest on listed debentures to any resident. Notably, earlier the said payment was exempted from TDS.
Section 194B – Winning from lottery/ crossword puzzle –
- Threshold limit of INR 10,000 will be applicable aggregate amount from winning from lottery/ crossword puzzle/ card game or any other game/ gambling/ betting.
- With effect from 1st April 2023, provisions of section 194B of the Income Tax Act will not apply to winning from any online game.
Section 194BA – Winning from online games (newly inserted provisions effective from 1st April 2023) –
Any person responsible for paying, income by way of winning from any online games, to any person is required to deduct TDS u/s 194BA.
TDS is deductible on net winning in the user account at the end of the Financial Year. However, in case of withdrawal during the Financial Year from the user account, TDS will be deductible at the time of withdrawal.
Section 194 N – Payments of certain amounts in cash (i.e. cash withdrawals) –
The threshold limit, in case if the recipient is co-operative society, will be INR 3 Crores instead of INR 1 Crore.