Can TDS return be filed late?

Can I claim TDS after 2 years?

71 to enable the assessee to make an application for rectifying the assessment or intimation order and for allowing the TDS credit. This application has to be made within a period of two years from the end of the financial year in which TDS has been deducted.

What happens if a TDS return is not filed?

Late Filing Fee: A late filing fee of ₹200 per day is charged for the delay in filing the TDS return until the fee equals the TDS amount. Penalty: As per Section 271H, a penalty ranging from ₹10,000 to ₹1,00,000 may be imposed for the non-filing or incorrect filing of TDS returns.

How much penalty for belated return?

The penalty for late filing of ITR is Rs. 1,000 for income up to Rs. 5 lakhs and Rs. 5,000 for higher incomes, plus 1% monthly interest on unpaid tax.

Does NRI have to file a tax return in India?

As an NRI, PIO, or OCI, you may be required to file tax returns in India if your Indian income surpasses the specified threshold or if you seek to claim refunds for excess tax deductions. While filing an ITR is mandatory only under certain circumstances, voluntary filing can be beneficial in many ways.

How much does a CA charge for TDS return?

CA charges for TDS return filing in India generally range from ₹1,000 to ₹6,000 per return, depending on the type of form and volume of entries. For one-time filings like Form 26QB (on property purchase), the cost is lower and straightforward.

How to avoid penalties for TDS returns?

Best Practices to Avoid TDS Penalties

1. Maintain a TDS compliance calendar with all quarterly due dates and internal cut off dates.
2. Ensure TDS is deducted on time at the correct rate and deposited within due dates using challan ITNS 281.

What is the maximum penalty for filing a late return?

If you owe tax and don't file on time (with extensions), there's also a penalty for not filing on time. The failure-to-file penalty is usually five percent of the tax owed for each month, or part of a month that your return is late, up to a maximum of 25%.

How to file late TDS return?

How To Pay Late Fees For Filing Return After Due Date?

1. Download the justification report from the TRACES portal.
2. Proceed to make payment using Challan ITNS 281.
3. Make sure that you tag this Challan towards payment in the “Fee” column.
4. Submit the Correct Statement using the Online Correction facility.

What are common TDS return filing mistakes?

Wrong PAN, TAN, or Section Mapping During Data Entry

Incorrect TAN, PAN, or section selection is a common issue that leads to mismatch in Form 26AS or deductee credit failures. Many businesses mistakenly use incorrect section codes like 194C instead of 194J.

What is the maximum TDS late fee?

Person who fails to file the TDS/TCS statement within the due date may have to pay a penalty ranging from Rs 10,000 to Rs 1 lakh. The penalty under this section is in addition to the late filing fee u/s 234E. This section will also cover the cases of incorrect filing of TDS returns.

What happens if I do a late tax return?

In addition to a fine, the ATO can also apply General Interest Charges (GIC), on any amount still owing. Note: The rate for GIC changes quarterly. At the time of writing this article, the rate is 10.61% per annum (October – December 2025).

How to avoid penalties for late tax return?

To avoid the late fee under Section 234F of the Income Tax Act, ensure you file your income tax return on time for the applicable assessment year. If you miss the deadline, you still have the option to submit a belated return by December 31st of the relevant assessment year.

How to get late filing penalties waived?

The IRS can waive penalties if you demonstrate that your failure to comply with tax requirements was due to reasonable cause. Acceptable reasons include serious illness, natural disasters, or other events beyond your control that prevented timely tax filing or payment.

Can we claim TDS in belated return?

If TDS is missed to be claimed within belated ITR time limit, a Condonation of Delay Application [under Section 119(2)(b)] is the only correct approach.

What happens if I send a return late?

Interest will be charged on late payments after this date. If HMRC have asked you to complete a tax return for 2023/24, and you miss the deadline, you'll automatically be fined regardless of how small your tax liability is. A penalty will also apply if you are due a refund.

How to pay late tax return penalty?

Pay a Self Assessment penalty

1. Overview.
2. Direct Debit.
3. Approve a payment through your online bank account.
4. Make a bank transfer.
5. By debit or corporate credit card online.
6. At your bank or building society.
7. By cheque through the post.
8. Check your payment has been received.

What is the last date to file TDS return?

The TDS payment due date is usually the 7th of the next month (30th April for March). TDS return filing is due by the last day of the month following each quarter (31st July, 31st October, 31st January, and 31st May). When should TDS be paid? TDS should be paid by the 7th of the month following the deduction.

Is TDS 100% refundable?

Q- Is TDS 100% refundable? The amount of TDS refund you receive depends on the amount of tax liability you have. For example, if your income is not taxable, still your TDS was deducted, and you might be eligible for a 100% tax refund.

Can TDS penalty be waived off?

Waiver of fee: The Central Board of Direct Taxes (CBDT) has the power to waive or reduce the fee levied under Section 234E. However, the waiver or reduction can only be done on a case-by-case basis, and the decision will depend on the facts and circumstances of the case.