tds: CBDT extends deadline for submitting TDS for non-salary transactions until November 30

The Central Board of Direct Taxes on Thursday prolonged the deadline for submitting quarterly TDS assertion in Kind 26Q for the June quarter by a month until November 30. Kind 26Q is used for quarterly submitting of TDS returns on funds aside from wage.

“Contemplating the difficulties in submitting of TDS assertion within the revised and up to date Kind 26Q, the Central Board of Direct Taxes (CBDT) has prolonged the due date of submitting of Kind 26Q for the second quarter of economic yr 2022-23 from thirty first October, 2022 to thirtieth November, 2022,” CBDT mentioned in a press release.

The shape captures particulars of whole quantity paid and tax deducted on such funds throughout the quarter. It will embrace funds on account of curiosity on securities, dividend, winnings from lotteries and crossword puzzles, hire, curiosity aside from curiosity on securities, charges for skilled or technical providers.

AMRG & Associates Director (Company & Worldwide Tax) Om Rajpurohit mentioned taxpayers have been experiencing a variety of technical points just lately, together with challan mismatches, challan verification failures and auto changes of challans, which made it not possible to file a TDS return on Kind 26Q.

“CBDT has acknowledged it, extending the deadline by one month and giving tax deducters a much-needed reprieve. Nonetheless, no such exemption is obtainable for TDS returns that apply to transactions involving salaries (Kind 24Q) and non-residents,” Rajpurohit added.

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