📢 Income Tax Reminder – TDS Payment Due by 30th June 2025 for May 2025 Transactions

As per the Income Tax Act, it is mandatory for taxpayers who have deducted tax at source (TDS) under specific sections to file the challan-cum-statement within the prescribed time. For the month of May 2025, the due date for filing the TDS payment and return is 30th June 2025.

🧾 Relevant TDS Sections for May 2025:

  1. Section 194-IA

    • Applicability: TDS on the purchase of immovable property (other than agricultural land).

    • Threshold: Applicable if property value exceeds ₹50 lakhs.

    • Rate: 1% of the sale consideration.

    • Filing Requirement: File Form 26QB (challan-cum-statement) within 30 days from the end of the month in which TDS is deducted.

  2. Section 194-IB

    • Applicability: TDS on rent payments made by individuals or HUFs (not subject to tax audit).

    • Threshold: Monthly rent exceeding ₹50,000.

    • Rate: 5% of the rent.

    • Filing Requirement: File Form 26QC.

  3. Section 194M

    • Applicability: TDS on payments for contractual work, commission, or professional fees by individuals/HUFs (not subject to tax audit).

    • Threshold: Payments exceeding ₹50 lakhs in a financial year.

    • Rate: 5%.

    • Filing Requirement: File Form 26QD.

  4. Section 194S

    • Applicability: TDS on payment for the transfer of Virtual Digital Assets (VDAs) such as cryptocurrencies and NFTs.

    • Threshold: ₹10,000 per financial year (₹50,000 for specified persons).

    • Rate: 1%.

    • Filing Requirement: File Form 26QE.

⚠ Why Timely Compliance is Important

  • Late filing penalties: ₹200 per day under Section 234E.

  • Interest liability: Interest @1%/1.5% per month for late deduction/payment.

  • Disallowance of expenses: If TDS is not deposited on time, the related expense may not be allowed as a deduction.

  • Increased scrutiny: Non-compliance increases chances of notices from the Income Tax Department.

✅ What You Should Do Now:

  • Ensure you’ve deducted TDS correctly.

  • Identify the applicable section (194-IA, IB, M, or S).

  • File the relevant challan-cum-statement (Form 26QB/QC/QD/QE) on or before 30th June 2025.

  • Maintain proper documentation for audit or scrutiny purposes.

💼 Need Help with TDS Filing?

Let Taxla Services handle your tax filings with accuracy and compliance. Our experts ensure timely submissions and help you stay penalty-free.

📞 Contact us today: +91 9600076134 / 7200509886
📧 Email: auditsiva2@gmail.com
🌐 Website: www.taxlaservices.com
📍 Address: 19, SBI Colony 3rd Street, Saligramam, Chennai – 600093

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