TDS/TCS Compliance for 4th Quarter of FY: 2016-17 has been given below:
Last date for filing of TDS returns for Q4 of FY:2016-17 – 31st May, 2017
Last date for issuance of TDS certificates for Q4 of FY:2016-17 – 15th June, 2017
Last date for issuance of TCS certificates for Q4 of FY:2016-17 – 30th May, 2017
With the introduction of Section 234E, there is now a provision of stringent penalties for delayed filing of TDS returns.
• Failure to submit e-TDS Statement on time will result in fees on the deductor.
• If you delay or forget to file your e-TDS Statement, fees of Rs. 200 per day will be levied on the deductor, as long as TDS Statement is not filed.
• The levied amount of fee is not supposed to exceed the TDS deductibles.
• Prior to filing of TDS Statement such fee should be paid and it should be reflected in the TDS Statement.