Extension of Time Limits for submission of TDS and TCS Statements for the 1st Quarter of FY 2023-24
July 04, 2023
Section 119 of the Income Tax Act, 1961(‘the Act’) empowers the Central Board of Direct Taxes (“CBDT”) to issue necessary instructions to the Income Tax Authorities.
At present, the due date for furnishing the statement of TCS (in Form 27EQ) and TDS (in Form 26Q and 27Q) pertaining to the first quarter of the Financial Year 2023-24 is 15th July 2023 and 31st July 2023 respectively.
In order to ease the compliance burden of the taxpayers and pursuant to Section 119 of the Act, CBDT via. Circular No. 09 dated 28th June 2023 extends the due date of furnishing such Statements and issues necessary instructions for their extension to 30th September 2023 via Circular No. 09 of 2023 dated June 28, 2023(refer to table below):
| S. No. | Statement | Existing Due Date | Extended Due Date |
| 1 | TCS Statement | 15th July 2023 | 30th September 2023 |
| 2 | TDS Statement | 31st July 2023 |
Last updated: 04/07/2023
Article contributed by:
Punam Kumari Senior Executive – Direct Tax
