Extension of Due Date for Filing of TDS/TCS Statements for Qtr-1 of FY 2023-24

The CBDT, vide Circular No. 09/2023 dated 28.06.2023, has issued an Order under section 119 of the Income-tax Act, 1961. With this circular, CBDT extends the deadline for submitting the quarterly TDS statements in Form No. 26Q and Form No. 27Q and the quarterly TCS statement in Form No. 27EQ for the first quarter of the financial year (FY) 2023-24. The TDS return due date for FY 2023-24 extended for Form 26Q and 27Q from 31st July 2023 to 30th September 2023, and for Form 27EQ is extended from 15th July 2023 to 30th September 2023. In this article, we will look in detail at the Extension of the Due Date for the Filing of TDS/TCS Statements for Qtr-1 of FY 2023-24.

No Extension for Form No. 24Q and Other TDS Statements in CBDT Order

It is important to note that the TDS return due date for FY 2023-24, extended as mentioned in the circular, does not apply to submitting quarterly TDS statements in Form No. 24Q for the deduction of tax (TDS) from salary income. Form 24Q due date for FY 2023 24 for the first quarter remains unchanged and is still July 31, 2023. The due date for submitting Form 24Q for FY 2023-24 should be adhered to avoid penalties. Additionally, the Order does not provide any extension for submitting TDS statements in Form No. 26QB, Form No. 26QC, and Form No. 26QD.

Filing of TDS Statements:

According to section 200(3) of the Income Tax Act, every entity responsible for deducting tax (deductor) is required to submit a statement detailing the tax deductions made (TDS) and the deposited amount within the designated form and timeframe. This must be done after remitting the deducted tax to the Central Government. As per Rule 31A of the Income Tax Rules, 1962, it is a requirement to file the TDS statement with the Income Tax Department electronically. Rule 31A(1)(b)(ii) and 31A(2) provide the specific due dates for filing quarterly TDS statements in Form No. 26Q, which are determined based on the respective ending dates of each financial quarter. The due date for filing Form 26Q for FY 2023-24 is typically the last day of the month following the end of each quarter. Filing Form 26Q for FY 2023-24 must be completed by the specified due dates for each quarter to remain compliant. The due dates for filing TDS statements in Form No. 26Q are as follows:

Sl.No	End date of the financial quarter	Due date of filing of TDS statements
1	For the quarter ending on June 30th	July 31st of the financial year
2	For the quarter ending on September 30th	October 31st of the financial year
3	For the quarter ending on December 31st	January 31st of the financial year
4	For the quarter ending on March 31st	May 31st of the following financial year

Issuance of TDS Certificates:

Rule 31(1) of the Income Tax Rules requires issuing TDS certificates by deductors for various types of deductees.

Form No. 24Q is used for salary TDS deductions (section 192)
Form No. 27Q is used for non-resident deductees
Form No. 26Q is used for other resident non-salaried deductees

Time limits for issuing TDS certificates

Rule 31(3) specifies the time limits for issuing TDS certificates, with Form No. 16A being issued quarterly and Form No. 16 being issued annually. The due date for issuing Form 16A is linked to the due date for furnishing the TDS statement, as per Rule 31A.

Forms for Furnishing TDS Statements for Different Deductees

Rule 31A(1) of the Income Tax Rules specifies the forms for furnishing TDS statements based on different categories of deductees. The following forms are required for specific deductee categories:

Form No. 24Q: This form is used for the statement of deduction of tax under section 192, which pertains to salary TDS deductions. [Rule 31A(1)(a)]
Form No. 27Q: This form is used for deductees who are non-residents, excluding companies, foreign companies, or residents who are not ordinarily residents (non-resident deductees). [Rule 31A(1)(b)(i)]
Form No. 26Q: This form is used for other residents and non-salaried individuals (resident non-salaried deductees). [Rule 31A(1)(b)(ii)]

Due Dates for Filing Quarterly TDS Statements

Rule 31A(2) of the Income Tax Rules outlines the due dates for filing quarterly TDS statements under section 200(3) in Form No. 26Q due date for FY 2023-24/27Q and Form No. 24Q. The following table presents the due dates based on the ending dates of each financial quarter implying the due date of 24Q and 26Q for FY 2023 24:

Sl. No	End date of the financial quarter	Due date of filing of TDS statements
1.	30th June	31st July of the financial year
2.	30th September	31st October of the financial year
3.	31st December	31st January of the financial year
4.	31st March	31st May of the following financial year

According to Rule 31A(2), TDS statements in Form No. 26Q/27Q and Form No. 24Q must be filed within these specified due dates for each quarter of the financial year.
The Order does not provide specific information regarding the due date for issuing TDS Certificates in Form No. 16A, which is used for non-salary TDS deductions.
The due date of Form 26Q for FY 2023-24 varies depending on the quarter, with specific deadlines set for each filing period.

Certificate Formats for Deduction of Tax at Source

Rule 31(1) prescribes the formats for certificates issued for the deduction of tax at source following Chapter XVII-B of the Income Tax Act. The following formats are specified:

Form No. 16: This format is used for certificates of tax deduction at source or payment of tax by the employer on behalf of the employee under section 192. [Rule 31(1)(a)]
Form No. 16A: This format is used for tax deduction certificates at source under any other provision of Chapter XVII-B. [Rule 31(1)(b)]

As per Rule 31(1), depending on the specific provisions under which the deduction or payment of tax is made, either Form No. 16 or Form No. 16A should be used to issue the respective certificate.

Issuance Deadlines for TDS Certificates

Under Rule 31(3), the issuance of TDS certificates follows specific timelines as outlined below:

Form No. 16: This certificate must be issued annually, specifically by the 15th day of June in the financial year immediately following the year the income was paid and tax deducted. [Rule 31(3)]
Form No. 16A: These certificates must be issued every quarter within fifteen days from the date for furnishing the statement of TDS as per Rule 31A. [Rule 31(3)]

Accordingly, Form No. 16 should be issued by June 15 in the subsequent financial year, while Form No. 16A needs to be issued within 15 days from the due date for furnishing the TDS statement specified in Rule 31A.

Due Dates for Issuing TDS Certificates

The issuance of TDS certificates, precisely Form 16 and Form 16A, follows different rules regarding their due dates: Form 16: Rule 31 specifies a static due date for issuing Form 16, which is June 15. This deadline must be followed for the financial year immediately following the year the income was paid and tax deducted. Regarding Form 16A, the due date for issuance is not fixed but instead connected to the due date for furnishing the TDS statement. As per Rule 31, Form 16A should be issued within fifteen days from the due date of furnishing the TDS statements as stipulated by Rule 31A.

Extension of Due Date for Filing of TDS/TCS Statements for Qtr-1 of FY 2023-24

Hence, when the due date for furnishing the Tax Deducted at Source statement for the 1st Quarter of FY 2023-24 is extended to September 30, 2023, the due date to issue Form 16A automatically extends to October 15, 2023, as per Rule 31(3). No separate order is required for this extension. It should be noted that the income-tax department still needs to explain extending the due date for furnishing TDS statements in Form No. 26Q/27Q and 27EQ by three months, particularly considering that the TDS return due date for FY 2023-24 extended was announced one month before the prescribed initial due date.