Extension of TDS & TCS filing dates

– 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