Timely filing of TDS and TCS statements is an essential compliance requirement under the Income-tax Act. Delay in furnishing such statements may result in levy of late filing fee, notices, and in certain cases, additional penalty under the applicable provisions of the Act.
Under the Income-tax Act, 2025, the provisions relating to late filing fee are covered under Section 427 (earlier Section 234E), while penalty provisions relating to non-filing or incorrect filing are covered separately under Section 461 (earlier Section 271H).
Quick Reference – Section Mapping
| Particulars | Income-tax Act, 1961 | Income-tax Act, 2025 |
|---|---|---|
| Fee for default in furnishing TDS/TCS statements | Section 234E | Section 427 |
| Penalty for failure or incorrect filing | Section 271H | Section 461 |
Applicability of Late Filing Provisions
The provisions relating to late filing become applicable where a deductor or collector fails to furnish TDS or TCS statements within the prescribed due dates.
These provisions apply to delayed furnishing of prescribed statements, including statements such as:
- Form 24Q
- Form 26Q
- Form 27Q
- Form 27EQ
The late filing framework covers both:
- Levy of fee for default in furnishing statements, and
- Additional penalty provisions in specified cases of default or incorrect filing.
Late Filing Fee under Section 427
A fee of 200 per day is levied for every day during which the default continues. The fee is calculated from the due date of filing till the actual date of furnishing of the statement.
However:
- The total fee cannot exceed the amount of TDS deductible, or
- TCS collectible, as the case may be
The fee is mandatory in nature and is required to be paid before furnishing the delayed statement.
Penalty under Section 461
Apart from the late filing fee, additional penalty provisions may apply in specified cases. Penalty may be imposed where a person:
- Fails to furnish TDS/TCS statements within prescribed time
- Furnishes incorrect details in the statement
- Files incorrect challan or PAN details
- Reports incorrect TDS or TCS amounts
The penalty under Section 461 may range from:
- Minimum: ₹10,000
- Maximum: ₹1,00,000
This penalty is separate from the late filing fee levied under Section 427.
Due Dates for Filing TDS and TCS Statements
The due dates for furnishing quarterly TDS and TCS statements are prescribed under the applicable return filing provisions. The commonly applicable due dates are as follows:
| Quarter Period | TDS Return / Statement Due Date | TCS Return / Statement Due Date |
|---|---|---|
| April – June | 31st July | 15th July |
| July – September | 31st October | 15th October |
| October – December | 31st January | 15th January |
| January – March | 31st May | 15th May |
Relief from Penalty in Certain Cases
Penalty under Section 461 may not be imposed in certain cases where:
- TDS/TCS has been deposited to the credit of the Government
- Applicable interest and late filing fee have been paid
- The statement is furnished within the prescribed relaxation period
These relief provisions are subject to fulfilment of prescribed conditions under the Act.
Important Compliance Points
Certain important points should be considered while complying with TDS/TCS filing requirements:
- The fee becomes applicable once delay occurs
- Fee is levied on a per day basis till the date of furnishing
- Penalty provisions under Section 461 are separate from late filing fee provisions
- Delay in filing may result in notices, defaults, and compliance issues
- Proper challan details, PAN details, and statement information should be verified before filing
Timely filing and accurate reporting of TDS/TCS statements therefore remain essential for avoiding unnecessary fees, penalties, and compliance consequences.
Use TDSMAN Software to file seamless & error-free TDS / TCS returns, without any professional help.