– Recently, Central Board of Direct Taxes (CBDT) vide notification No 35/2020 dated 24 June 2020 has extended the due dates of various TDS & TCS related compliances. There was a certain ambiguity on the due date of filing TDS return for Quarter 1 & 2 of the Financial Year 2020-21 as the CBDT notification had not explicitly extended the due date for the same in the said notification.
– Now, the tax authorities have explicitly mentioned the timeline for the TDS return for Quarter 1 & 2 in the TRACES website and therefore, have resolved the ambiguities concerning the timelines. The revised TDS return filing timelines are captured in the below table
| Type of TDS return | Financial year | Applicable Period | Original due date | Revised due date |
|---|---|---|---|---|
| Forms 24Q, 26Q, 27Q, 27EQ | 2019-20 | Quarter 4 | 31 May 2020 | 31 July 2020 |
| 2020-21 | Quarter 1 | 31 July 2020 | 31 March 2021 | |
| 2020-21 | Quarter 2 | 31 October 2020 | 31 March 2021 | |
| Forms 26QB, 26QC, 26QD | 2019-20 | February 2020 | 30 March 2020 | 31 July 2020 |
| 2019-20 | March 2020 | 30 April 2020 | 31 July 2020 | |
| 2020-21 | April 2020 to November 2020 | 30 days from the end of the respective month | 31 March 2021 |
– Further, among other things date for Issuance of TDS/TCS certificates for FY 2019-20 has also been extended to 15th August, 2020.
Our comments:
– It is surely a welcome step by the CBDT, however it important to note the following:-
- The CBDT notification has only extended due date for filling the returns, whereas due date for payment of TDS remains the same i.e. on monthly basis.
- Also, there is no extension on fling of TDS/TCS returns for Q3 and Q4 of FY 2020-21