What is TDS Return Filing?

TDS Return Filing refers to the quarterly statement that summarizes all transactions where tax is deducted at source. Deductors are mandated to submit this statement to the Income Tax Department. The Government of India collects tax at the point of transaction, either when the payment is made or credited. At BizMantra, we ensure that your TDS returns are filed accurately and on time, thus avoiding any penalties.

Types of TDS Return Filing

 

Form 24Q : Quarterly statement for tax deducted on salaries.

 

Form 26Q : Quarterly statement for tax deducted on all payments other than salaries.

 

Form 27Q : Quarterly statement for tax deducted on payments to non-residents.

 

Form 27EQ : Quarterly statement for tax collected at source.

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Important Details for TDS Return Filing
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To successfully file your TDS returns, you need to have the following details:

 

PAN of the deductor and deductee

 

Amount of tax paid to the government

 

TDS challan information

 

Date of payment or credit of the transaction

 

Amount on which TDS is deducted

 

Rate of TDS deduction

TDS Certificates (Form 16, 16A, 16B, 16C)

TDS certificates are issued to the payee to reflect the tax deducted by the payer. Below are the forms and their respective due dates for TDS return filing:

 

Form 16 : TDS on salary (due by 31st May).

 

Form 16A : TDS on non-salary payments (due 15 days after filing).

 

Form 16B : TDS on property sale.

 

Form 16C : TDS on rent.

TDS Return Filing Eligibility

Any employer or organization that deducts TDS must file a quarterly TDS return. This includes companies, government offices, or individuals making specified payments under the Income Tax Act.

Due Dates for TDS Return Filing

 

1st Quarter : 1st April to 30th June – Due by 31st July

 

2nd Quarter : 1st July to 30th September – Due by 31st October

 

3rd Quarter : 1st October to 31st December – Due by 31st January

 

4th Quarter : 1st January to 31st March – Due by 31st May