TDS due date extended till Mar 31 for govt deductors
March, 07th 2014
The Revenue Department has extended the due date of filing TDS and TCS for 2012-13 and 2013-14 till March 31 in case of government deductors.
The Central Board of Direct Taxes (CBDT) had received several petitions from various deductors requesting waiver of fee levied for delay in filing of TDS/TCS statements, an official release said.
"On a consideration of the difficulties being cited by the deductors, the CBDT has decided, as a one-time exception, to ex-post facto extend the due date of filing of TDS/TCS statements for FY 2012-13 (2nd to 4th quarter) and FY 2013-14 (1st to 3rd Quarter) to March 31, 2014 in the case of government deductors," the release said.
The department, last year, had said that failure to deposit timely and correct 'tax deducted at source' (TDS) or tax collected at source (TCS) by either government or private sector will attract a penalty which can range from Rs 200 to Rs 1 lakh.
All the TDS range offices of the department across the country have been asked by the Central Board of Direct Taxes to ensure compliance in this area.