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August 29, 2026
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BySteffy A
TDS and TCS Compliance Calendar September 2026: Key Deadlines
Introduction
The TDS and TCS Compliance Calendar September 2026 helps deductors, collectors, government offices, property buyers and eligible individuals or HUFs identify the forms applicable to them. Reviewing these requirements in advance can reduce the risk of interest, late fees, unmatched challans and delayed tax credit.
September 2026 includes important TDS and TCS obligations relating to tax deducted or collected during August 2026. These compliances cover monthly tax deposits, reporting by government account offices and filing of challan-cum-statements for specified transactions.
Important Due Dates in the TDS and TCS Compliance Calendar September 2026
|
Due Date |
Compliance |
Form |
Period |
Applicable To |
|
07/09/2026 |
Deposit of TDS deducted in August 2026 | Applicable TDS challan | August 2026 | Non-government deductors and government offices depositing TDS through a challan |
| 07/09/2026 | Deposit of TCS collected in August 2026 | Applicable TCS challan | August 2026 |
Non-government collectors and government offices depositing TCS through a challan |
|
15/09/2026 |
Monthly statement by government account offices | Form 137 | August 2026 | PAOs, Treasury Officers, CDDOs and other government account offices reporting TDS/TCS deposited through book adjustment |
| 30/09/2026 | Challan-cum-statement for TDS on purchase of immovable property | Form 141 | August 2026 |
Buyers responsible for deducting TDS on the purchase of immovable property |
|
30/09/2026 |
Challan-cum-statement for TDS on rent | Form 141 | August 2026 | Applicable individuals and HUFs paying rent |
| 30/09/2026 | Challan-cum-statement for TDS on specified payments | Form 141 | August 2026 |
Applicable individuals and HUFs making contractual, professional, commission or brokerage payments |
|
15/09/2026 |
Issue of TDS certificate for specified transactions | Form 132 | July 2026 |
Deductors who deducted and deposited TDS on specified rent, immovable property, contractual/commission/professional payments or transfer of Virtual Digital Assets covered under section 393(1) |
Disclaimer: Under this framework, Form 24G has been replaced by Form 137, while Forms 26QB, 26QC, 26QD and 26QE have been consolidated into Form 141.
Penalties and Consequences of Non-Compliance under TDS and TCS
|
Compliance |
Interest |
Late Fee / Penalty |
Consequence |
|
Deposit of TDS |
1.5% per month or part thereof from deduction to actual payment. If tax was not deducted, interest is 1% until deduction. | No daily late fee for delayed challan payment. Failure to deduct may attract a penalty equal to the TDS amount. |
Deductor may be treated as an assessee in default. Recovery proceedings and prosecution may apply in cases of continued non-payment. |
|
Deposit of TCS |
1.5% per month or part thereof from collection to actual payment. If tax was not collected, interest is 1% until collection. | Failure to collect TCS may attract a penalty equal to the amount not collected. |
Collector may be treated as an assessee in default. Delayed credit to the buyer and recovery or prosecution proceedings may follow. |
|
Form 137 |
No interest merely for late filing where TDS/TCS was credited through book adjustment on time. | Penalty of ₹500 per day, capped at the amount of TDS/TCS deductible or collectible. |
BIN generation and matching of book-adjustment payments with DDO statements may be delayed. |
|
Form 141: Property Purchase |
1% per month for delay in deduction and 1.5% per month for delay after deduction. | Late fee of ₹200 per day, limited to the TDS amount. Additional penalty of ₹10,000 to ₹1 lakh may apply. |
TDS certificate generation and tax credit for the seller may be delayed. |
|
Form 141: Rent Payment |
1% per month for delay in deduction and 1.5% per month for delay after deduction. | Late fee of ₹200 per day, limited to the TDS amount. Additional penalty of ₹10,000 to ₹1 lakh may apply. |
The landlord’s TDS credit and certificate may be delayed until the default is cleared. |
|
Form 141: Specified Payments |
1% per month for delay in deduction and 1.5% per month for delay after deduction. | Late fee of ₹200 per day, limited to the TDS amount. Additional penalty of ₹10,000 to ₹1 lakh may apply. |
The payer may receive a default demand for short payment, interest or late filing fee. |
|
Issue of TDS certificate in Form 132 within the prescribed time |
Not Applicable | ₹500 per day for every day the failure continues, subject to the prescribed limit |
₹500 per day for every day the failure continues, subject to the prescribed limit |
Note: The ₹10,000 to ₹1 lakh statement-filing penalty may not be imposed where the tax, interest and late fee are paid and the statement is filed within one month from the prescribed filing deadline.
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TDS and TCS compliance involves several connected responsibilities, including deducting or collecting tax correctly, depositing it within the prescribed time, reporting challan details accurately and filing the applicable statements. A delay or mismatch at any stage can affect tax credit, trigger interest and create additional correction work.
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Conclusion
The TDS and TCS Compliance Calendar September 2026 helps deductors, collectors and government account offices identify the statutory requirements applicable to them. Timely deposit of tax and accurate filing of prescribed forms are essential for preventing interest, late fees, tax-credit delays and compliance notices.
Businesses should verify PAN details, deduction or collection amounts, challan information and transaction records before completing each compliance. Proper reconciliation also helps ensure that the corresponding tax credit is correctly reflected for the deductee or collectee.
For a complete view of monthly statutory obligations, explore our Compliance Calendar September 2026, covering GST, Income Tax, TDS and TCS, PF and ESI, LLP, OPC and company compliance deadlines.
Suggested Reads:
Compliance Calendar August 2026
TDS and TCS Compliance Calendar August 2026
GST compliance Calendar September 2026
Company Compliance Calendar September 2026
Frequently Asked Questions
1. Is TAN required for filing Form 141?
No. Form 141 is a PAN-based challan-cum-statement used for specified rent, property, contractual, professional and virtual digital asset transactions. The specified deductors filing Form 141 are not required to obtain TAN for these transactions.
2. Can different transaction types be reported in one Form 141?
No. Only one schedule and one transaction type can be selected in each Form 141 filing. Separate forms must be filed for rent, immovable property, specified payments and virtual digital asset transactions.
3. When should Schedule C of Form 141 be used?
Schedule C applies where an individual or HUF, not otherwise liable to deduct TDS under another provision, makes contractual, professional, commission or brokerage payments exceeding the prescribed aggregate threshold.
4. What happens if TDS or TCS is deducted or collected but not deposited?
The deductor or collector may be treated as an assessee in default. Interest applies at 1.5% for every month or part of a month from the date of deduction or collection until the tax is paid.
5. How is interest calculated when tax is not deducted or collected?
Interest applies at 1% for every month or part of a month from the date the tax was deductible or collectible until it is actually deducted or collected. After deduction or collection, interest at 1.5% applies until payment.
6. Can PAN or challan errors in a TDS or TCS statement be corrected online?
Yes. PAN and challan-related errors can be corrected through the online correction facility on TRACES. Other corrections may require preparation and validation of a correction statement using the applicable utility.
7. Can one TDS or TCS challan contain multiple section codes?
Yes. The e-Filing portal allows multiple section codes in one challan. However, separate challans are required for different deductee types or residential statuses.
8. Why is the Book Identification Number important for Form 137?
The Book Identification Number links TDS or TCS deposited through government book adjustment with the relevant DDO and TAN. It enables government deductors to report the payment correctly and supports the flow of tax credit to taxpayers.
9. How can Ebizfiling help resolve TDS or TCS mismatches?
Ebizfiling can review challans, PAN details, deduction records and filed statements to identify short deduction, unmatched challans, incorrect deductee details and tax-credit mismatches. Our professionals can also assist with correction statements and default resolution.
10. Can Ebizfiling assist with Form 137 and Form 141 compliance?
Yes. Ebizfiling can assist government account offices and specified deductors with document review, transaction classification, form preparation, challan verification and filing support for Form 137 and Form 141.
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