TDS Return Filing
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What is TDS?
TDS (Tax Deducted at Source) is an indirect system of deduction of tax according to the Income Tax Act, 1961 at the point of generation of income. Tax is deducted by the payer and is remitted to the government by him on behalf of the payee. TAN or Tax Deduction and Collection Number (TAN) is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such person must make an application within a month in which TDS was deducted for allotment of Tax Deduction and Collection Number (TAN) in form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans etc. Tax is deducted by the payer and is remitted to the government by the payer, on behalf of payee. Startup Search Providers can help easily filing your TDS Return.
A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. Submitting TDS Return is mandatory if you are a deductor. It has details of TDS deducted and deposited by you.
Procedure For TDS Return Filing
Frequently Asked Questions
TDS means Tax Deducted at Source. It is the amount deducted from payments of various kinds such as salary, contract payment, commission etc. This deducted amount can be adjusted against the tax due of the deductee.
TAN is an alphanumeric 10 digit number required by a person who is liable to deduct TDS and file TDS return. Thus such person must make an application within a month in which TDS was deducted for allotment of Tax Deduction and Collection Number (TAN) in form 49B. This number allotted is mandatory to mention in all TDS Certificates issued, returns, challans etc. If a person fails to apply for TAN he may be penalised upto Rs. 10,000/-.
Once the documents and application are verified & confirmed by the department the TAN number will be communicated to the Deductor by NSDL.
PAN of the deductors has to be given by non-Government deductors. It is essential to quote PAN of all deductees.
Due Dates for TDS payment or TDS deposit
Once tax is deducted the deductor should deposit the tax deducted with Central Government within time limit specified in the table below:
| TDS deducted in Month or period | Due date for Government assessee | Due date for Non Government assessee |
|---|---|---|
| For March | April 7th | April 30th |
| For any other quarter or months | 7th of next month | 7th of next month |
| For TDS on transfer of immovable property (changed and applicable from June 1st 2016) | 30th of next month | 30th of next month |
| Period for which TDS is paid | Due date |
|---|---|
| April 1st to June 30th | July 31st |
| July 31st to September 30th | October 31st |
| October 1st to December 31st | January 31st |
| January 1st to March 31st | May 31st |
Different types of TDS forms are as follows :-
Form 24Q -TDS on Salaries
Form 26Q – TDS on payments other than Salaries
Form 27Q – TDS on payments made to Non-Residents
Form 27EQ – TCS
Every person deducting tax as per provisions of section 203 is required to issue a certificate to the payee in respect of tax deducted by him along with certain other particulars. This certificate is called TDS Certificate. Once the TDS return is filed , TDS certificate can be generated within 15 days to the payee. Payee can opt for annual TDS certificate rather than receiving quarterly TDS certificate.
Non Payment leads to Interest@ 1.50% p.m. or 18% p.a. from the date on which tax is deducted to the date of its payment. Failure to file quarterly TDS Returns in time late fee @ Rs. 200/- per day maximum of TDS amount) Section 234E.
