NSDL Issues Advisory for Deductors to file TDS/TCS Statements for Qtr-1 FY 2023-24 from 01.09.2023 onwards

After the extension of due dates for furnishing the TDS and TCS statements in Form No. 26Q, Form No. 27Q and Form No. 27EQ for quarter 1 of the financial year (FY) 2023-24 from July 31, 2023 to September 30, 2023, NSDL has issued an advisory to deductors to wait for the release of updated FVU and shall file these statements from September 1, 2023 onwards only.

Due date to file TDS returns for 1st quarter of F.Y. 2023-24 for Form 26Q and 27Q has been extended from 31st July 2023 to 30th September 2023 and for Form 27EQ due date has been extended from 15th July 2023 to 30th September 2023 vide Circular no. 09/2023 dated 28th June 2023.

Readers are aware that CBDT vide Circular No. 09/2023 dated 28.06.2023 passed an Order under section 119 of the Income-tax Act, 1961 (‘Act’) extends the due date for furnishing the quarterly TDS statements in Form No. 26Q and Form No. 27Q and quarterly TCS statement in Form No. 27EQ for the first (1st) quarter of the financial year (FY) 2023-24 from July 31, 2023, and July 15, 2023 respectively to 30th September 2023.

Read Also: CBDT Extends Due Date for Filing of TDS/TCS Statements for Qtr-1 of FY 2023-24

However, there is no extension of the due date for furnishing the quarterly TDS statements in Form No. 24Q and Form No. 24Q in respect of the deduction of tax (TDS) from salary income. The due date to furnish Form 24Q for the Q1 of the financial year (FY) 2023-24 shall remain July 31, 2023.

Further, no extension in furnishing TDS statements in Form No. 26QB, Form No. 26QC and Form No. 26QD is granted in the Order.

In an email communication dated 7th July, 2023, NSDL informed the deductors that the above statements are required to be filed through the revised and updated FVU version. The revised file formats are applicable for Form 26Q, 27Q & 27EQ for Q1 of F.Y. 2023-24 and accordingly, statements prepared using updated RPU & validated with updated FVU versions will only be accepted. The updated RPU & FVU are expected to be made available on TIN website (www.protean-tinpan.com) by September 1, 2023.

Hence, all the deductors/collectors are hereby advised to file statements (i.e. 26Q, 27Q & 27EQ) for the period of Q1 of FY 2023-24 (using updated RPU & FVU) during the period from September 1, 2023 to September 30, 2023.

Read the full text of the email from NSDL to deductors-

Extension of time limit for the submission of Form 26Q, 27Q & 27EQ for Q1 of the financial year 2023-24 till September 30, 2023

Dear Sir/Madam,

We would like to invite your attention to CBDT Circular No. 9/2023 dated June 28, 2023 whereby an order has been issued under section 119 of Income Tax Act 1961 for extension of time limits for the submission of Form 26Q, 27Q & 27EQ pertaining to Q1 of the financial year 2023-24 till September 30, 2023 from July 31, 2023.

Please note that the revised file formats are applicable for Form 26Q, 27Q & 27EQ for Q1 of F.Y. 2023-24 and accordingly statements prepared using updated RPU & validated with updated FVU versions will only be accepted. The updated RPU & FVU are expected to be made available on TIN website (www.protean-tinpan.com) by September 1, 2023.

In view of the above, all the deductors/collectors are hereby advised to file statements (i.e. 26Q, 27Q & 27EQ) for the period of Q1 of FY 2023-24 (using updated RPU & FVU) during the period from September 1, 2023 to September 30, 2023.

Regards

For and on behalf of Tax Information Network

Protean eGov Technologies Limited (CIN: U72900MH1995PLC095642)

(Formerly known as NSDL e-Governance Infrastructure Limited)

1st Floor, Times Tower, Kamala Mills Compound, Lower Parel, Mumbai – 400 013

According to section 200(3), every deductor is required to furnish a statement of tax deduction and deposit of TDS in the prescribed form and within the prescribed time limit after paying the tax deducted to the credit of the Central Government.

As per Rule 31A of Income Tax Rules, 1962, the TDS statement is required to be filed electronically with the Income Tax department.

Rule 31A(1)(b)(ii) and 31A(2) prescribe filing of quarterly TDS statements u/s 200(3) in Form No. 26Q within the following time limits-

Date of ending of quarter of financial year	Due date of filing of TDS statements
30th June	31st July of the financial year
30th September	31st October of the financial year
31st December	31st January of the financial year
31st March	31st May of the following financial year

Rule 31A(1) requires the furnishing of TDS statements in the following forms for different categories of deductees-

Type of Forms	For Dedcutees
Form No. 24Q	Statement of deduction of tax under section 192 (Salary TDS) [Rule 31A(1)(a)]
Form No. 27Q	Deductee who is a non-resident not being a company or a foreign company or resident but not ordinarily resident (non-resident deductees) [Rule 31A(1)(b)(i)]
Form No. 26Q	For other deductees (Resident non-salaried deductees) [Rule 31A(1)(b)(ii)]

Rule 31A(2) prescribes filing of quarterly TDS statements u/s 200(3) in Form No. 26Q/27Q and Form No. 24Q within the following time limits-

Sl. No	Date of ending of quarter of financial year	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

However, the Order is silent in respect of the due date of issue of TDS Certificates in Form No. 16A which is issued for non-salary TDS.

Rule 31(1) prescribes that the certificate of deduction of tax at source by any person in accordance with Chapter XVII-B or the certificate of payment of tax by the employer on behalf of the employee under sub-section (1A) of section 192 shall be in-

(a)	Form No. 16	if the deduction or payment of tax is under section 192 [Rule 31(1)(a)]
(b)	Form No. 16A	if the deduction is under any other provision of Chapter XVII-B [rule 31(1)(b)]

As per Rule 31(3), Form 16 is required to be issued annually and TDS certificates in Form 16A are required to be issued quarterly within the below-mentioned time-limit-

Form No. 16	By 15th day of June of the financial year immediately following the financial year in which the income was paid and tax deducted [Rule 31(3)]
Form No. 16A	Within 15 days from the due date for furnishing the statement of tax deducted at source under rule 31A.  [Rule 31(3)]

In case of the due date of issue of TDS certificates in Form 16, Rule 31 categorically specifies the date of 15th June within which Form 16 needs to be issued.

However, the due date to issue the TDS certificates in Form 16A is not static but linked to the due date of furnishing the TDS statement.

In the case of the issue of TDS certificates in Form 16A, Rule 31 states that the same needs to be issued within 15 days from the due date of furnishing the TDS statements as per Rule 31A. Hence, once the due date to furnish the TDS statements is extended, there is no need to extend the due date to issue the TDS certificates in Form 16A. It is automatically extended to 15 days once the due date for furnishing TDS statements is extended. 

Hence, when the due date for furnishing the TDS statement for the 1st Quarter of FY 2023-24 is extended to 30-09-2023, the due date to issue the TDS certificates is automatically extended to 15-10-2023 by virtue of Rule 31(3). No separate order is required for such an extension.

Further, the income-tax department has not disclosed the reason for such an extension for furnishing TDs statements in Form No. 26Q/27Q and 27EQ by 3 months and, that too, one month before the prescribed due date.

Update:
NSDL Releases New FVU version 8.2 and RPU 4.7 on 01.09.2023

Also Read:

All about Due Date for TDS/TCS Payment and TDS/TCS Returns and issue of TDS/TCS Certificates

Get all latest content delivered straight to your inbox

Socialize with Us

• Facebook
• Twitter
• Google+

Income Tax Diary