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File TDS Returns

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TDS Return?

Under the Income Tax Act, a firm or person making a payment over specific thresholds must deduct tax, or TDS. Deduct this tax at authorised rates and report it in TDS Return Forms.

Key Points:

  • Anyone liable to deduct TDS must file a TDS Return.

  • Quarterly Submission: The Income Tax Department of India requires quarterly TDS Returns.

  • TDS Returns are required for deductors.

  • Details Required: The return must include quarterly TDS deducted and deposited.

TDS Return Filing Prerequisites:

  • TAN and PAN: Obtain a valid Tax Deduction Account Number (TAN) and Permanent Account Number (PAN).
  • Assessment: Determine if TDS is required on your payments.
  • Transaction and Payment Details: Include details of transactions and payments.
  • Types of Payments: Payments such as salaries, interest, professional fees, contractor payments, and rent are typically subject to TDS.
  • Prescribed Rates: Follow the prescribed rates for each type of payment as per the Income Tax Act, 1961.

Types of TDS Return Forms:

  • Form 24Q: For tax deducted at source from salaries.
  • Form 26Q: For tax deducted at source on all payments other than salaries.
  • Form 27Q: For tax deduction on income from interest, dividends, or other sums payable to non-residents.
  • Form 27EQ: For the collection of tax at source.

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If you have made payments to resident Indians, file Form 24Q for salary payments and Form 26Q for other payments quarterly. For payments to non-residents, file Form 27Q quarterly. Correctly filing your TDS Returns is necessary to generate Form 16A and Form 16 (TDS Certificates). For more detailed information, refer to the TDS Rate Chart for FY 2022-23.

For any queries or assistance regarding TDS Returns, please reach out to us:

My File Tax
Phone: +91 72074 46677
Email: kbharathca@gmail.com

Our team of experts is here to help you with all your TDS Return filing needs.

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  • TDS Returns for 1st Quarter 
  • TDS Returns for 2nd Quarter
  • TDS Returns for 3rd Quarter
  • TDS Returns for 4th Quarter
  • Form 24Q, 26Q and 27Q (as applicable) upto 500 entries for YearForm
  • 16A on a quarterly basis
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  • TDS Returns for 1st Quarter
  • TDS Returns for 2nd Quarter
  • TDS Returns for 3rd Quarter
  • TDS Returns for 4th Quarter
  • Form 24Q, 26Q and 27Q (as applicable) upto 1000 entries for 1 Year
  • Form 16A on a quarterly basis
  • Form 16 on an annual basis for upto 10 employees
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TDS Returns filing-Mandatory norms

Points to make your decision easy

Quarterly Returns

All quarterly TDS return filing deadlines have been extended until 31.03.2021. Apr-Jun 31 July – July-September – 31st Dates: October - December 31st. January - January-March - 31st May

Return forms

TDS Return Form 26Q is used to report non-salary TDS. Return form TDS Form 24Q details salary TDS, while TDS Form 27Q details non-resident payments.

Late filing

Late TDS filing Late costs are Rs. 200 per day of default on filing. You should file returns on time to avoid late costs. Late TDS filing fees are mandatory.

Required TDS Return Documents

Quick Checklist

Your TAN
Challans of TDS Payment
Details of Deduction

TAN & Challans

All we need is your TAN and challans of TDS paid by you. An acknowledgment of TDS amount deposited online will be generated from your bank website. All you need to provide is this two information to get going

TDS Returns-Process Flow

5 Easy Steps

Return preparation

You must provide TAN, Challans, and Deductee information. We will process and prepare returns 24Q, 26Q, and 27Q.

Filing of Returns

Online filing of these returns. Individual return acknowledgement receipts are generated after filing. You will receive these and submitted returns.

Form 16 & 16A

Form 16 is generated annually if you choose January to March TDS filing. Quarterly Form 16A will be sent to you.

 

TDS Return FAQs

TDS must be deducted from salaries, interest, professional fees, rent, and contractor payments. On some transactions, firms must collect TCS (Tax Collected at Source). Paying TDS requires: Get a valid TAN. Calculate TDS at stipulated rates. Pay TDS to the government via the specified bank or online gateway. Quarterly TDS returns.

TAN registration takes 7–10 working days from application. After receiving the application and supporting documents, the Income Tax Department issues the TAN.

Refile if you filed an original return with inaccurate TDS values. Make sure the updated return has the correct information and is filed before the assessment year ends or is completed.

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