what happened if i deposit tds of 1st quarter on 1 july in tds account

If you deposit first-quarter TDS on 1 July , it is still within the due date if your deductor category is one that can deposit quarterly and the quarter ended in June, because the due date for Q1 is on or before 7 July.

What it means

• For most non-government deductors, TDS deducted in April–June can be deposited by 7 July.

• So a deposit on 1 July is generally on time , not late.

• If the TDS was actually deducted in an earlier month and you are only depositing it on 1 July, the key question is still whether the applicable due date had already passed.

When it can become a problem

• If the deposit is made after the due date , the deductor can be treated as an assessee in default and may face interest, penalty, and prosecution exposure.

• For TDS returns, the quarterly statement also has a separate due date, so deposit timing and return-filing timing are not the same thing.

Simple example

If you deducted TDS in June and deposited it on 1 July , that is normally fine because it is before the 7 July deadline for quarter 1.

Bottom line: depositing Q1 TDS on 1 July is usually acceptable and within time, assuming you are following the normal quarterly deposit schedule.