Submit TDS before May 31 or face fine, warns I-T Department
The Income Tax Department has warned entities deducting tax at source to adhere to the quarterly filing deadline of May 31. For delay in filing Tax Deducted at Source (TDS) statement, entities have to pay a fine of â¹200 for each day of default. Notably, TDS is to be deducted by the employer from the salary of the employee.