COVID 2019 – No change in TDS / TCS payment dates

As per the press note issued by Department of Revenue, Ministry of Finance on 31/03/2020, the following has been mentioned related to TDS & TCS:

“It has provided that reduced rate of interest of 9% shall be charged for non-payment of Income-tax (e.g. advance tax, TDS, TCS) Equalization Levy, Securities Transaction Tax (STT), Commodities Transaction Tax (CTT) which are due for payment from 20.03.2020 to 29.06.2020 if they are paid by 30.06.2020. Further, no penalty/ prosecution shall be initiated for these non-payments.”

Based on the above, there is no change in the due dates of TDS & TCS payments. However, for non-payment, lower interest rate (@9% p.a. instead of @18%) will apply and further, no penalty / prosecution shall be initiated for these non-payments. This relaxation will apply only if all amounts falling due from 20.03.2020 to 29.06.2020 is paid by 30.06.2020.

The summary of the above relaxation as applicable for the months of Feb’20 to June’20 is as under:

 

  Month Payment Due Date Relaxation
TDS February 2020 07.03.2020 Not Applicable
March 2020 30.04.2020 Applicable
April 2020 07.05.2020 Applicable
May 2020 07.06.2020 Applicable
June 2020 07.07.2020 Not Applicable

 

  Month Payment Due Date Relaxation
TCS February 2020 07.03.2020 Not Applicable
March 2020 07.04.2020 Applicable
April 2020 07.05.2020 Applicable
May 2020 07.06.2020 Applicable
June 2020 07.07.2020 Not Applicable

Click Here  for the original Press Note dated 31/03/2020

7 thoughts on “COVID 2019 – No change in TDS / TCS payment dates

  1. D Pavan

    What is the due date of payment of TDS on immovable property u/s 194IA for TDS deducted on payment made by purchaser of property to seller of property in the the month of March 2020.

    Reply
  2. muralikrishnan

    TCS DEDUCTED FOR MONTH OF MARCH 20 BUT NOT DEPOSITED ON OR BEFORE APRIL 7 TH. CAN WE DEPOSIT TCS ALONG WITH TDS COLLECTED ON APRIL 30.4.20

    Reply
  3. ALOK BARMAN

    A BUILDING ADHIGRAHAN BY SHRI VISHWANATH MANDIR TRUST AND THESE PROPERTY REGISTERED BY U.P.GOVERNMENT IN FAVOUR U.P. GOVERNOR ON Rs. 100/- STAMP PAPER. SO, I ASKED THAT TAXABLE AMOUNT I.T. U/S 54E WILL BE TAXED OR EXEMPT FROM TAX WHICH PAID BY U.P.GOVT. TO THE ASSESSE.

    Reply

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