As the due date for filing of TDS Statement in form 26Q is expiring on 30th November 2022, the Central Board of Direct Taxes ( CBDT ) has issued an advisory for the taxpayers to file before the due date to avoid late fee.
“Tax Deductors may please note! The due date for filing TDS Statement in Form 26Q for the second quarter of F.Y. 2022-23 is 30th November, 2022. Do e-file the TDS Statement before the due date to avoid late fee,” the CBDT said.
Form 26Q is used to file TDS details on payments made other than salary. The form mentions the total amount that is paid during the quarter and the TDS amount that has been deducted. Form 26Q has to be submitted on a quarterly basis.
A press release issued by the Board on 27th October, 2022 stated that “Considering the difficulties in filing of TDS statement in the revised and updated Form 26Q, the Central Board of Direct Taxes ( CBDT ) has extended the due date of filing of Form 26Q for the second quarter of Financial Year 2022-23 from 31st October, 2022 to 30th November, 2022. CBDT Circular No. 21/2022 in F.No.275/25/2022-IT(B) dated 27.10.2022 issued. The said Circular is available on www.incometaxindia.gov.in.” A late filing fee of Rs 200 per day is levied until the TDS return is filed. Further, the assessing officer may levy a penalty under section 271H. The minimum penalty amount is Rs 10,000 and the maximum penalty amount is Rs 1 lakh.
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