Tds Return
Tds Return Service
Requirment
- Tax Deduction and Collection Account Number
- PAN Card
- TDS return details,
Tds Return
In India, TDS (Tax Deducted at Source) return is a quarterly statement submitted by the
deductors to the Income Tax Department detailing the tax deducted at source on
various salaries such as salary, interest, rent, business expenses etc. The purpose of
filing a TDS return is to ensure that the tax deducted at source is reported accurately
and credited to the correct account of the taxpayer. There are different methods of
paying different amounts, such as Form 24Q for wages and Form 26Q for non-wages.
ABOUT TDS RETURN :
1. Forms For TDS Return
Form 24Q: For TDS on salaries.
Form 26Q: For TDS on all payments other than salaries.
Form 27Q: For TDS on payments to non-residents.
Form 27EQ: For TCS (Tax Collected at Source)
2. Due Dates for Filing:
1st Quarter (April – June) : 31st July
2nd Quarter (July – September) : 31st October
3rd Quarter (October – December) : 31st January
4th Quarter (January – March) : 31st May
3. Details Required:
TAN (Tax Deduction and Collection Account Number) of the deductor.
PAN (Permanent Account Number) of the deductor and deductees.
Amount paid and tax deducted for each transaction.
Details of the TDS deposited with the government.
4. Consequences of Non-Compliance:
Penalty for late filing.
Interest on late payment of TDS.
Disallowance of expenses for which TDS was required but not deducted or deposited.
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