What is TDS Return Filling & TDS e-Filing?

TDS Returns: Eligibility, Filing Process, Due Dates & Revised TDS Return

Any person or business who deducts TDS needs to file TDS return, TDS return is a file with Government every quarter, the purpose of it is to inform on the TDS deducted on the payments made by deduction and also and the TDS deposited by deduction in particular quarter. TDS return is filed online.

TDS Return Challan

TDS you pay every month, you receive a challan, this tds ;return challan is useful at the time of tds return filing, where you give details on tds deducted and paid by you.

>TDS filing every quarter is mandatory, TDS Return form is prescribed by the Government. The filing is done as per due dates specified. Non-filing of TDS return attracts penalty. Noncompliance to file TDS return gets reported to authorities through financial reporting. The objective is to keep a check on TDS payment status and compliance with the provision of TDS.

How to know if tds return has been deposited after deduction made by deduction?

TDS return status, if your tds has been deducted, you can see the same online in income tax India provided a link

Types of TDS Return Forms

TDS Return Form 24Q

Form 24Q is filed in case TDS is being deducted from salary. An employer files it. TDS return form 24q contains the detail information of salary paid and credited to the account of the employee along with the TDS deducted and payment details of the same.

TDS Return Form 26QB

On payment being made for the transfer of immovable property, if tds is being deducted Form 26 Q is filed in that case.

TDS Return Form 27Q

If a payment to non-resident required TDS deduction. In this case, TDS filing is done through form 26QB.

TDS Return Form 26Q

TDS return form 26Q is filed for any other case like interest payment, commission payment, professional fees payment, contractual payment etc.


Documents Required for filing e-TDS Return

  • PAN card
  • TDS certificates (if TDS has been deducted by other)
  • Payment details like TDS challan date, number, bsr code and tds challan amount
  • In response to a notice received from the Department of Income Tax – You need the details of Original return/details of notice.
Who should deduct and pay TDS ?

An individual or a business makes payment if such payment exceeds the limit specified as per income tax act, the payer has to deduct tax before making the payment, this portion of tax is called tds. Basically here the person making payment is collecting tax on behalf of the Government. The party which deducts tax and makes payment is deducted and the party receiving payment is deducted. Every party deducting tds shall mandatorily do the tds efiling or online tds return filing.

Party whose tax has been deducted can claim this TDS deducted as tax paid by him for the financial year in which TDS has been deducted.