TDS Return Filing
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Introduction :
Apart from depositing the tax the diductors also has to do TDS return filing. TDS return filing is a quarterly.
Statement that is to be given to the Income Tax department. It is necessary to submit the TDS returns on time.
TDS return filing can be done completely online.
List of Documents Required TDS Return Filing
- 1. TAN Details
- 2. PAN Card Details of the individual.
- 3. TDS Certificate If the TDS has been deducted by Others.
- 4. Tax payment challan: Self-assessment & advance tax, if one is deposited
- 5. Bank Statements details of all the individuals bank account.
- 6. Name of the entity - Proprietorship/ Partnership/ Company/ LLP
Remember to consult with a tax professional or refer to the official guidelines from the Income Tax Department for specific queries or any recent updates.
Eligibility Criteria
Who can file TDS returns?
TDS return filing is done by organizations or employers who have availed a valid tax collection and deduction number (TAN). Any person who is making specified payments mentioned under the Income Tax Act is required to deduct the taxes at the sources and they are needed to deposit the tax within the stipulated time for making the following payments.
Due Date for TDS Return filing
What are the due dates for TDS return filing?
The due date for the payment of the TDS deducted is the seventh of the next month.
| Quarter | Period | Last Date of Filing |
|---|---|---|
| 1st Quarter | 1st April to 30th June31st July 2022 | 31st July 2022 |
| 2nd Quarter | 1st July to 30th September31st October 2022 | 31st October 2022 |
| 3rd Quarter | 1st October to 31st December31st Jan 2023 | 31st Jan 2023 |
| 4th Quarter | 1st January to 31st March31st May 2023 | 31st May 2023 |
Note: As per Circular 21/2022, the date of furnishing the TDS Statement in Form 26Q for the quarter ended 30th Sept 2022 has been extended to 30th Nov 2022.
TDS return filing procedure
How to file TDS returns online?
Here is the step-by-step procedure to file the TDS returns online.
- Step 1: Firstly, Form 27 A containing multiple columns has to be filled and in case of the hard copy of the Form, it has to be verified along with the E-TDS return that has been filed electronically.
- Step 2: In the next step, the tax that is deducted at the source and the total amount that has been paid needs to be correctly filled as well as tallied.
- Step 3: The TAN of the organizations is to be mentioned on Form 27 A. There will be difficulties in the process of verification if the mentioned TAN is incorrect.
- Step 4: While filing the TDS returns the appropriate challan number, the mode of the payment, and the tax details have to be mentioned. In case of the incorrect challan number or the incorrect date of the payment, there will be a mismatch and the TDS returns also need to be filed again.
- Step 5: To bring consistency the basic Form used for Filing the e-TDS must be used. The 7 Digit BSR has to be entered for easing the tallying process.
- Step 6: Physical TDS returns are to be submitted at the TIN FC, which is managed by NSDL. In case of the online filing, they can be submitted on the official website of the NSDL TIN.
- Step 7: If the provided information is correct then a token number or a provisional receipt is received. This is a proof that TDS return has been filed.
- Step 8: In case of rejection, a non-acceptance memo along with the reason for the rejection is issued and the returns have to be filed again.
TDS Return Form
What are the different types of TDS Forms?
TDS forms are depending on the income of the deductee or the type of deductees paying taxes. The TDS forms are mentioned below:
| Form | Periodicity | Particulars |
|---|---|---|
| Form 24Q | Quaterly | The quarterly statement for TDS from "Salaries." |
| Form 26Q | Quaterly | Quarterly statement of TDS in respect of all payments other than “Salaries.” |
| Form 27Q | Quaterly | Quarterly statement of TDS from interest, dividend, or any other sum payments to non-residents. |
| Form 27EQ | Quaterly | Quarterly statement of collection of tax at source. |
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