Great news for companies! As of October 1, 2024, the Indian government has relaxed the rules for depositing Tax Deducted at Source (TDS). Companies now have more time to deposit TDS with the government, up to the deadline for filing the TDS return, which is an additional 20 days ¹.
However, it’s essential to note that if the TDS is deposited after the original due date, companies will still need to pay penal interest ¹. This change aims to ease the burden on companies and reduce the likelihood of errors or late filings.
Here are some key points to keep in mind:
– New TDS Deposit Deadline: Companies can deposit TDS up to the TDS return filing deadline.
– Penal Interest: Applies if TDS is deposited after the original due date.
– Additional Time: Companies get 20 more days to deposit TDS.
– Relaxed Rules: Aimed at reducing errors and late filings.
