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Tax Deducted at Source (TDS) return is a statement submitted to the Income Tax Department. It provides details of all TDS transactions made by a deductor. Filing a TDS return is mandatory for entities that deduct tax at source.
To file TDS returns, you will need the following documents:
TDS Return is a quarterly statement submitted by deductors to the Income Tax Department. It contains details of the tax deducted and deposited.
Any individual or entity that has deducted tax at source must file TDS returns. This applies to employers, organizations, or individuals.
TDS returns must be filed quarterly. The due dates are generally the 31st of July, 31st of October, 31st of January, and 31st of May for the four quarters, respectively.
You can file TDS returns online through the Income Tax Department's portal using the required forms, such as Form 24Q for salary payments and Form 26Q for non-salary payments.
Late filing of TDS returns attracts a penalty of ₹200 per day of delay under Section 234E. In some cases, additional penalties may apply.
Yes, TDS returns can be revised if there are errors in the original submission. The revised return should be filed with the corrections.
You can check the status of your TDS returns on the TIN NSDL website by entering the acknowledgment number provided after filing the return.
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