Last modified / updated Feb. 04, 2016

Income Tax Act, 1961 : Income Exempted and Chargeable under the Head "Salaries"

4. Due dates for payment of TDS

Prescribed time of payment/deposit of TDS to the credit of Central Government account is as under:

a) In case of an Office of Government:

S.No	Description	Time up to which to be deposited.
1	Tax deposited without Challan [Book Entry]	SAME DAY
2	Tax deposited with Challan	7TH DAY NEXT MONTH
3	Tax on perquisites opt to be deposited by the employer.	7TH DAY NEXT MONTH

b) In any case other than an Office of Government

Sl No.	Description	Time up to which to be deposited.
1	Tax deducted in March	30th APRIL NEXT FINANCIAL YEAR
2	Tax deducted in any other month	7TH DAY NEXT MONTH
3	Tax on perquisites opted to be deposited by the employer	7TH DAY NEXT MONTH

5. Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted

If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax to the credit of the Central Government within the prescribed time, he shall be liable to action in accordance with the provisions of section 201 and shall be deemed to be an assessee-in-default in respect of such tax and liable for penal action u/s 221 of the Act. Further Section 201(1A) lays down that such person shall be liable to pay simple interest

(i) at 1% for every month or part of the month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and

(ii) at one and one-half percent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid.

Such interest, if chargeable, is mandatory in nature and has to be paid before furnishing of quarterly statement of TDS for respective quarter.

Section 271C inter alia lays down that if any person fails to deduct whole or any part of tax at source or fails to pay the whole or part of tax under second proviso to section 194B, he shall be liable to pay, by way of penalty, a sum equal to the amount of tax not deducted or paid by him.

Further, section 276B lays down that if a person fails to pay to the credit of the Central Government within the prescribed time, as above, the tax deducted at source by him, he shall be punishable with rigorous imprisonment for a term which shall be between 3 months and 7 years, along with fine.

Links & Description of Contents

Scheme of Tax Deduction at Source from "Salaries"	Income Chargeable under - "Salaries"	Income Exempted Under The Head "SALARIES"
1 - Section 192 Provisions on Taxable Income 2 - Relief When Salary Paid in Arrear or Advance 3 - Claim of Deduction of Interest u/s 24 (b)- Income from House Property 4 - Due dates for payment of TDS 5 - Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted 6 - Certificate for Tax Deducted (Section 203) 7 - TRACES 8 -Furnishing Particulars pertaining to perquisites 9 - Mandatory Quoting of PAN and TAN 10 - TDS on Income from Pension	11 - Income Chargeable Under the Head "Salaries" 12 - Definition OF "Salary" 13 - Perquisite - Rent Free Accomodation & Motor car provided by the Employer 14 - Perquisite - Gas, electricity & water for household consumption 15 - Interest free or concessional loans 16 - Value of Subsidized / Free food / non-alcoholic beverages 17- Transfer Grant Allowance 18 - Medical Reimbursement by the Employer	19 - Leave Travel Concession (LTC) 20 - Death-cum-Retirement Gratuity 21 - Commutation of Pension 22 - Leave Encashment 23- Retrenchment Compensation 24 - Amount received on voluntary retirement 25 - Sum received under a Life Insurance Policy 26 - Payment from a Provident Fund 27 - House Rent Allowance 28 - Pension to Gallantry Awarded 29 - Medical Treatment provided by Employer 30 - Entertainment Allowance 31 - Professional Tax

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