Understanding the TDS Deposit Deadline for March 2020

Compliance is the Key to Avoiding Penalties

As we approach the end of April 2020, it is important to recall the deadlines for tax deduction at source (TDS) deposit. Unlike other months, the TDS for the month of March 2020 must be deposited by the 30th of April 2020, as mandated by the government. Failure to meet this deadline could result not only in penalties but also in the levying of interest.

Interest Rates for TDS: A Reduced Rate Until June 2020

For any TDS that is deposited late, the interest rate on the overdue amount has been reduced to 9 percent until the 30th of June 2020. This compassionate rate is a relief from the usual 18 percent interest rate that is usually levied for late payment of TDS. This extension and reduction in interest rate aim to provide some financial relief to taxpayers during this challenging period.

TDS Return Filing Deadline Extended to June 30, 2020

In addition to the TDS deposit deadline, the government has also extended the deadline for filing TDS returns to the 30th of June 2020. This extension provides taxpayers with extra time to complete their TDS return processes and ensures that they have enough time to document and report any discrepancies or errors before final submission.

Quarterly Basis TDS Remittance

For clarity, TDS is usually remitted on a quarterly basis. The fourth quarter, stretching from January 1st to March 31st of the fiscal year (2019-2020 financial year), is typically due for payment by April 30th, 2020. This means that any TDS deducted in March 2020 should be deposited by the 30th of April 2020, as per the stipulated rules.

Need Assistance? Contact Our Support Team

If you have any further questions or need assistance in filing your TDS returns, our support team is always available. You can reach out to us at help@ or call us at 91-66387878.