All about TDS Payment due Dates and Interest on Late Payment

All about TDS Payment due Dates and Interest on Late Payment

TDS is the amount of tax which is deducted by the employer or deductor from the taxpayer and is deposited to the Income Tax Department on behalf of him/her. The TDS rates are set on the basis of the age bracket and income of different individuals.

TDS or Tax Deducted at Source is a specific amount that is reduced when a certain payment like salary, commission, rent, interest, professional fees, etc. is made. The person who makes the payment deducts tax at the source, while the person who receives a payment/income has the liability to pay tax. It lowers tax evasion because the tax will be collected at the time of making a payment.

TDS Payment Due Date

Month	Due Date
April	7th May
May	7th June
June	7th July
July	7th August
August	7th September
September	7th October
October	7th November
November	7th December
December	7th January
January	7th February
February	7th March
March	30th April

 The due date for payment in case of TDS on sale of immovable property under section 194IA and TDS from rent by Individual or HUF under section 194IB is 30 days from the end of the month. For eg – TDS deducted on 15th June 2022 is required to paid on or before 30th July 2022.

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