TCS Return New Deadlines for Tax Year 2026-27
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TCS Return New Deadlines for Tax Year 2026-27
Under the Income-tax Act, 2025, quarterly TCS returns are to be filed using the new Form 143. The revised compliance framework provides additional time for filing, as TCS returns are now due on the last day of the month following the relevant quarter.
Quarterly TCS Return Due Dates (Form 143)
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | 1 Apr 2026 โ 30 Jun 2026 | 31 Jul 2026 |
| Q2 | 1 Jul 2026 โ 30 Sep 2026 | 31 Oct 2026 |
| Q3 | 1 Oct 2026 โ 31 Dec 2026 | 31 Jan 2027 |
| Q4 | 1 Jan 2027 โ 31 Mar 2027 | 31 May 2027 |
TCS Deposit Due Date (Unchanged)
For non-government collectors, TCS collected during a month must be deposited on or before the 7th day of the immediately succeeding month.ย Example: TCS collected in August 2026 must be deposited by 7 September 2026.ย ย For government collectors, remittance continues as per applicable government accounting procedures.
Consequences of Delay in Filing Form 143
- Late filing fee: โน200 per day of delay.
- Maximum late fee: Cannot exceed the amount of TCS collectible for that quarter.
- Interest liability: Applicable where collected TCS is not deposited within the prescribed time.
- Additional penalties: May be imposed for continued non-compliance.
Key Benefits of the New System
- Introduction of Form 143 as the new quarterly TCS statement.
- Extended filing timelines for easier compliance.
- Better reporting and faster reconciliation.
- Additional time for correction and compliance planning.
For Tax Year 2026-27, TCS compliance has been streamlined through Form 143 and revised quarterly filing deadlines. While the return filing dates have been extended, the monthly deposit deadline of the 7th day remains unchanged, making timely deposit and quarterly reporting equally important to avoid late fees, interest, and penalties.
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