TDS Return Filing Online
How we can help you? We will help you to file the following TDS Return forms.
Fill the Form to start TDS Return filing now.
Rs. 1499 for each TDS Return Form
Having a Doubt? Contact Us
Phone: +918588918033 Email: Contact@Gstmentor.com
TDS returns are filed quarterly while TDS Challans are paid on monthly basis. Challan Details, TAN of the deductor, PAN of the deductor, and deductee are required. Once the TDS Returns are filed, TDS credit starts reflecting in the deductee Form 26AS.
We will move step by step and understand How TDS works in India.
TDS (Tax Deducted At Source) is a type of tax that is deducted by the deductor when the transaction originates. the deductor deducts the tax and remits it to Central Government. The deductee who TDS gets deducted is entitled to get a refund of Tax deducted via Form 26 AS Or Deduction Certificate. Deductee gets refund when he files Income-tax Return.
TDS Requirement arises at the time of making payment or at the time of crediting the account of employee whichever is earlier. All TDS Rates are fixed like 1%, 2%, 5%, 10%. But if Payment made to Non-Resident or Foreign Company Surcharge and Higher Education Cess Should be considered.
In case the deductee does not furnish PAN, TDS Rate should be higher than 20% or the rate as per the respective section.
Tax Deduction Account Number Or Tax Collection Account number is a 10 digit alphanumeric number issued by the Income-tax department. TAN is to be obtained by all the persons who are required to deduct TDS or collect TCS. The structure of TAN Number has 4 alphabets at the beginning, followed by 5 numerical, and the last one is an alphabet again.
TDS and TCS Returns cannot be filed without obtaining TAN Number. The number is required to get Challans of TCS and TDS Returns.
Need TAN Number? Contact Us We will assist you to get the TAN number and filing TDS/TCS Returns.
If the TDS is deducted,
According to Section 201 (1A) of the Income-tax Act, 1961 Interest at 1.5% per month or part of a month on the amount of TDS from the date would be levied on which tax was deducted till date on which such tax is actually paid. (Late Payment)
While Interest at 1% per month or part of a month on the amount of TDS from the date of tax was deductible till the date of tax actually deducted. (Late Deduction)
TDS Returns are filed quarterly. The due dates are as follows.
According to Section 234E, Late fees of Rs. 200 per day are levied for default in furnishing TDS and TCS Return for every day during which the failure continues. Fees cannot be more than the amount of TDS and TCS.
TDS is deducted by the deductor when he makes the payments like Salary, Income on Securities, Lotteries, Commission. The rates and rules have been prescribed under Sections in Income Tax Act, 1961. To portray, the major ones are listed below.