TDS Returns

    - Mandatory for persons/entities who have deducted TDS
    - Get your TDS return filed at just Rs 499/- onwards
    - Work handled by professionals

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TDS return online

TDS stands for Tax Deducted at Source. In general, when a person receives income, he is liable to pay income tax on his income. However, in certain cases like payment of salary, commission, rent, interest, etc. the tax on such income is to be deposited by the payer himself. TDS return is to be filed by the deductor/ payer (Mr. A) to reflect the amount of TDS deducted by him alongwith the details of person whose TDS is to be deducted, so that the payee (like Mr. B) can claim the TDS in his Income tax Return. There are different forms to file TDS return. FORM 24Q- salary payment. FORM 26Q- payment other than salary. FORM 27Q- Paymnet to NRIs. FORM 27EQ- TCS. Various persons may be deducting TDS from our income (like-Mr. A, banks, employer, etc.) In order to claim the total amount of TDS deducted form our income, the payee (Mr. B) must check his Form 26AS.

Documentation for TDS Returns

Valid PAN and TAN number

Lower TDS certificate (if any)

Bank statement

TDS certificate like form 16 in case of salary.

Form 26AS

Process involved in registering a TDS Returns

1

Add the deatils of deductor

2

Add and verify the challan details

3

Add the details of deductee

4

Generate FVU and Form 27A

5

Login to the income tax e-filing website using TAN as the useri-d.

6

TDS> Upload TDS> select appropriate details from the drop down box> choose latest FVU> Validate.

7

Attach the signature file if using DSC or simply upload using EVC.

8

File/Upload return

9

On succesful filing the status is shown as' Received by TIN'

How to upload a TDS return

1

Login to the income tax e-filing website using TAN as the useri-d

2

TDS> Upload TDS> select appropriate details from the drop down box> choose latest FVU> Validate

3

Attach the signature file if using DSC or simply upload using EVC

TDS Returns

TDS return is to be filed by the deductor/ payer (Mr. A) to reflect the amount of TDS deducted by him alongwith the details of person whose TDS is to be deducted, so that the payee (like Mr. B) can claim the TDS in his Income tax Return. There are different forms to file TDS return.

FORM 24Q- salary payment.
FORM 26Q- payment other than salary.
FORM 27Q- Paymnet to NRIs.
FORM 27EQ- TCS.

Various persons may be deducting TDS from our income (like-Mr. A, banks, employer, etc.) In order to claim the total amount of TDS deducted form our income, the payee (Mr. B) must check his Form 26AS.

Who is required to file TDS returns

Whenever a person makes a specified nature of payment as specified under the various TDS sections (like section 192 for salary), and the amount of payment exceeds the threshold limit provided under each section, then TDS is to be deducted at the rate specified under each section.

BEnefits of filing TDS Return

FORM AVOID TAX EVASION
AVOID PENALTY
FORM DEDUCTEE CAN CLAIM TDS IN HIS ITR
RESPONSIBILLITY OF TAX DEPOSITION OF THE DEDUCTEE IS SHARED WITH THE DEDUCTOR

FAQs About TDS Returns

What is the late fee and penalty of filing a TDS return
In case of non-filing of TDS return, late fee is Rs. 200 per day (which cannot exceed the amount of TDS deducted. In addition to this, in case of non- filing of TDS return, or where the delay in filing of TDs return exceeds 1 year, or in case of incorrect filing of the TDS return, the assessing officer may penalize the assessee with an amount ranging from Rs. 10,000 to Rs. 1,00,000.
Interest for not depositing TDS
@1% per month (or part of the month)- for not deducting TDS @1.5% per month (or part of the month)- for TDS deducted but not deposited.
which challan is filed for TDS return
CHALLAN NO. 281 to be used for depositing TDS by both corporate and non-corporate entities. The minor head of challan is 200 for TDS payable by taxpayer and 400 for TDS regular assessment raise by the Income Tax department.
What is TAN?
TAN refers to tax deduction and Collection Account Number. It is a 10 digit unique alphanumeric number allotted to every TDS deductor. Without quoting TAN, TDS return cannot be filed. TAN can be applied online as well as ofline in Form 49B.
Can TDS return already filed be amended
Yes, TDS return can be revised multiple times. The different types of corrections that can be made are-Update deductore details, deductee details, salary detals, add/delete deductee, update PAN details, add/modify challan, etc. There is no need to file separate correction files. Multiple corrections may be made within a single correction file, known as’ multiple batch correction statement’.
What is the fee for filing TDS return
Yes. The uploading fee varies depending upon the number of records in the TDS/TCS return. This fee is again charged at the time of correction/ revision of the TDS/TCS return. Rs. 38- for records upto 100. Rs.178-for records ranging 101 to 1000. Rs.578.5- for records exceeding 1000.
How to check TDS return filing status
The return status can be checked by entering PAN, TAN and period of return in the website- https://www.tdscpc.gov.in/app/tapn/tdstcscredit.xhtml.
What is FVU?
FVU refers to File Validation Utility, which is a software developed by NSDL, to validate the format level errors in a TDS/TCS return.

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