When TDS is deposited after the due date it is considered as Late Deposit of TDS. Following are the due dates for TDS Deposit:
- For April to February: 7th of the next month,
- For March: 30th April of the next year.
If Payer/ Deductor fails to deposit within due date then penal interest @1.5% per month on such a delayed deposit is levied. Payer/ Deductor needs to pay the interest via challan no 281 before filing an e-TDS Return. In case of non-payment of interest, the IT Department will issue a notice.
Read More: Due Dates for TDS Filing