new delhi the income tax department itd today cautioned tds deductors to adhere to the stipulated deadline of may 31 for filing their statements failing which they would invite a penalty of rs 200 for each day of defaultthe central board of direct taxes cbdt that frames policy for the department issued an advertisement in leading national dailies in this contextit said attention tax deductors the last date to file tax deducted at source tds statement for the januarymarch quarter is may 31for delay in filing tds statement you pay a fine of rs 200 for each day of default the advertisement cautionedit added that the deductors who have deducted the tax and have not deposited the same by the due date must do so immediately and that all deductors must register themselves at the official website of the itd meant for this job itd ad also advised the deductors to correctly quote their tan tax deduction account number and also the permanent account number pan of the deductees so that they get their due tax creditnon quoting of pan or tan in tds statement may lead to levy of penalty it saidif there is no transaction liable to tdstcs tax collected at source to report for the quarter do intimate the same at traces portal the website mentioned above using declaration for non filing functionality to avoid notice for nonfiling of tds statementas per income tax rules tds is to be deducted by the deductor employer from the salary of the employee and has to be filed every quarter or in three months time with the tax department