Due Date for Filing TDS Challan-Cum-Statement for February 2025 – Sections 194IA, 194IB, 194M, 194S - 30th March, 2025

Tax Deducted at Source (TDS) compliance is crucial under the Income Tax Act, 1961. If you have deducted TDS under Sections 194IA, 194IB, 194M, or 194S for transactions in February 2025, you must file the challan-cum-statement by 30th March 2025 to avoid penalties.

📌 Section 194IA – TDS on Sale of Immovable Property

• Who Must Deduct TDS? Buyers of immovable property (except agricultural land) worth ₹50 lakh or more.

• TDS Rate: 1% on the total sale consideration.

• How to File?

  1. Deduct 1% TDS before making the payment.

  2. Deposit TDS using Form 26QB on the TIN-NSDL portal within 30 days.

  3. Issue Form 16B to the seller within 15 days of filing Form 26QB.

• Due Date: 30th March 2025 for February deductions.

📌 Section 194IB – TDS on Rent Paid by Individuals & HUFs

• Who Must Deduct TDS? Individuals & HUFs paying rent above ₹50,000 per month.

• TDS Rate: 5% of total rent.

• How to File?

  1. Deduct 5% TDS in the last rent payment of the year or lease termination.

  2. Deposit TDS using Form 26QC on TIN-NSDL within 30 days.

  3. Issue Form 16C to the landlord within 15 days of filing Form 26QC.

• Due Date: 30th March 2025 for February deductions.

📌 Section 194M – TDS on Payments to Contractors & Professionals

• Who Must Deduct TDS? Individuals & HUFs making payments above ₹50 lakh to resident contractors or professionals.

• TDS Rate: 5% of the total payment.

• How to File?

  1. Deduct 5% TDS at the time of payment.

  2. Deposit TDS using Form 26QD on TIN-NSDL within 30 days.

  3. Issue Form 16D to the payee within 15 days of filing Form 26QD.

• Due Date: 30th March 2025 for February deductions.

📌 Section 194S – TDS on Transfer of Virtual Digital Assets (VDAs)

• Who Must Deduct TDS? Anyone transferring cryptocurrencies, NFTs, or other VDAs exceeding the prescribed limit.

• TDS Rate: 1% on the transaction value.

• How to File?

  1. Deduct 1% TDS at the time of payment.

  2. Deposit TDS using Form 26Q (non-specified person) or Form 26QE (exchange) within 30 days.

  3. Issue the TDS certificate within 15 days of filing Form 26Q/26QE.

• Due Date: 30th March 2025 for February deductions.

⏳ Key Deadline: 30th March 2025

Failure to file within the due date may lead to interest, penalties, and legal consequences:
✔ Interest on Late Deduction: 1% per month.
✔ Interest on Late Deposit: 1.5% per month.
✔ Late Filing Fee: ₹200 per day (max up to TDS amount).
✔ Penalty for Non-Filing: ₹10,000 to ₹1,00,000 under Section 271H.

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