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TDS Return Filing in India

Market Price: ₹6499
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Government Fee: Included
Complete By*: 12-10-2024

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Market Price: ₹8903
Kudos Price: ₹4499 incl. all
You Save: ₹4401
Government Fee: Included
Complete By*: 12-10-2024

Get affordable package for TDS/TCS return filing at Kudos Startup.
 

Check Package
Market Price: ₹11999
Kudos Price: ₹7999 incl. all
You Save: ₹4000
Government Fee: Included
Complete By*: 12-10-2024

Get affordable package for TDS/TCS return filing at Kudos Startup.
 

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TDS Return Filing in India- An overview

If you are responsible for Tax Collection at Source (TCS) or Tax Deduction at Source (TDS) under the provisions of the Government then it is mandatory for you to acquire Tax Deduction and Collection Number (TAN). TDS return is filed quarterly by the deductor with the Income Tax Department. The person who deducts the tax at the source shall deposit the deducted tax to the Central Government using the TAN number. TAN is a 10-digit alphanumeric number. Obtaining TAN is essential in the case of salaried individuals. Thus, touch base with Kudos Startup for well-timed TDS Return filing in Indi at the least fee.

Who shall file the TDS return?

Under the Income Tax Act,

  • Every person or entity deducting or collecting TDS or TCS is required to file a TDS return within the prescribed due date;
    Any form of business except the salaried individuals shall deduct tax at source whilst paying salary, or to contractors, rent payment that exceeds INR 2,40,000 every year, etc.
    Thus, it is essential to file a TDS return by any entity or individual compulsorily having a TAN registration.
  • Government Offices;
  • Company or Body Corporate;
  • Individuals covered under mandatory audit as per section 44AB.

What are the Due Dates for TDS Filing?

The summary of due dates for TDS payment and TDS return Filing are summarised bellow:-

Month of Deduction Quarter ending The due date for TDS Payment through Challan for all the deductors (including govt. deductors*) Due Date for filing of Return for the financial year 2020-21 for all the deductors
April 30th June 7th May 31st March 2021
May 7th June
June 7th July
July 30th September 7th August 31st March 2021
August 7th September
September 7th October
October 31st December 7th November 31st Jan 2021
November 7th December
December 7th Jan
January 31st March 7th Feb 31st May 2021
February 7th March
March 7th April (for govt. deductors)
30th April (for other deductors)

Why is PAN required in TDS return filing?

PAN is required by any individual receiving any payment for which tax shall be deducted at source. PAN shall be correct and valid as incorrect PAN can lead to a higher TDS at the rate of 20% along with the penalty of INR 10,000.

Thus, the deductee shall make sure that the PAN status is active by checking on the 'Know your PAN' website. An inactive PAN must be get changed to active timely by contacting jurisdictional Assessing Officer to escape the unwanted penality.

What is a TDS Certificate?

TDS Certificate is a document furnished by the deductor to the deductee on deducting TDS. TDS certificate contains a 7-digit certificate number secured with the TRACES watermark. TDS certificate gives an option to the deductee to check the valid TAX Credit. Deductee is held responsible for preserving all the TDS certificates which are issued on a quarterly basis other than on salary payment.

How can you Claim TDS?

Deductee can claim the TDS credit by mentioning the TDS details in the Return of Income. Deductor Tan should be very correct as any incorrections can lead to discrepancies that can ultimately result in difficulties in processing the return.

What are the important TDS Return Forms?

TDS return forms are categorized on the basis of the type of deductee and the income of the deductee. The various forms to be filed in various cases are as follows:

TDS Form 24Q

As per the provisions of the Income Tax Act 1961, section 192, an employer shall deduct TDS when he pays salary to his employees. In this case, TDS form 24Q is used by the employer to file a salary TDS return. The form shall be filed and submitted on a quarterly basis and furnish the details of the amount paid in terms of salary by the deductor.

TDS Form 26Q

Form 26Q is used to file the TDS return on the payments other than that of salary. Here the form is filed by the payee or the taxpayer. The form furnishes the vital financial details such as the deductible TDS amount as well as the total payable amount on a quarterly basis.

TDS Form 26QB

Form 26QB is used to file the TDS return on the sale of property having consideration of Rs 50 lakhs & above. Here the form is filed by the buyer of the property. This form is filed at the time of making payment of sales consideration of property.

Form 27Q

Form 27Q files the TDS return including the details of TDS or tax deducted source on the payments made to NRIs (Non-Resident Indian) and foreigners. This form is not used in the case of payment of salaries to any NRI or foreigner. Form 27Q is filed on a quarterly basis. Moreover, it contains all the standard details pertaining to the payment made to NRIs and foreigners by the deductor.

Form 27EQ TCS

Form 27EQ furnishes all the information regarding TCS Tax collected at the source. Section 206C of Income Tax Act 1961 demands to file this form every quarter by the government deductors and collectors as well as the corporate.

How to file a TDS return?

Kudos Startup helps you in filing your TDS returns right within the due date and relieving you from this major legal responsibility. File your TDS return in few simple steps:

  • 1

    Contact us by filling our simple form or giving us just a call;

  • 2

    Get a professional allotted to your case;

  • 3

    Furnish the required details for TDS return filing;

  • 4

    Let our professional file your TDS return within the due date.

  • 5

    Sit back and get time-to-time updates of your TDS return filing on your phone.

Pricing

₹2499
  • TDS RETURN for 1 Quarter
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₹4499
  • Hallf Yearly TDS RETURN
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₹7999
  • TDS RETURN FOR 1 YEAR
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FAQ's

  • What are the due dates for filing quarterly TDS Returns?
    The due dates for filing quarterly TDS returns, both electronic and paper are as under:
    Quarter Due Date Due Date for 27 Q
    April to June July 15 14 July
    July to September October 15 14 October
    October to December January 15 14 January
    January to March June 15 14 June
  • The e-TDS/TCS return is required to file compulsorily by all corporate and government deductors/collectors. The forms used for quarterly e-TDS statements are Form Nos. 24Q, 26Q and 27Q and for quarterly e-TCS statement is Form No. 27EQ.
  • The penalty for failure in filing TDS return is Rs 200 per day under Section 234E of Income Tax Act 1961.
  • Yes, a TDS/TCS return can be revised by an assesses.

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