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TDS Return Filing in India

TDS is Tax Deducted at Source, the Income Tax Department introduced this concept with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor.

TDS Return is also known as TDS Statement. It is a summary of all the transactions related to TDS made during a quarter of a financial year. It needs to be submitted to the income tax department quarterly before the due date. TDS return contains details of TDS deducted and deposited by a deductor. TDS return has basic details of deductors and deductees like PAN, TAN, etc, TDS Challan information, deduction details, and other information as required by the government.

Who has to file TDS Return

TDS Return filing is mandatory if TDS has been deducted by the deductor in a particular quarter. However, it is not mandatory to file TDS Return if no TDS has been deducted by the deductor. In this case, the deductor should file a declaration of non-filing of the TDS statement with TRACES to avoid future notice from the IT Department.

As per the Income Tax Act, every Payer/deductor who deducts TDS shall file their TDS return. The following deductors are required to file TDS return quarterly if they have deducted any TDS from the payment made.

  • Individuals if covered under Section 44AB (Mandatory Audit)
  • Firm
  • LLP
  • Company
  • Government offices
  • Any other deductor, where the number of deductees records in a return for any quarter of the financial year are 20 or more.

It is mandatory to file quarterly TDS return within prescribed due dates. If a return is not filed within due dates, then the deductor will be liable to pay penalty for the late filing of return.

What are the types of TDS Returns & their Due Dates

The following are the TDS returns and their due dates:

TDS Return Type Nature of Payment
24Q TDS Deducted on Salary Payments
26Q TDS deducted on payments other than Salary
27Q TDS deducted on NRI Payments other than Salary
Quarter Quarter Period Due Date
Q1 April to June 31st July
Q2 July to September 31st October
Q3 October to December 31st January
Q4 January to March 31st May

Penalties fof not filing TDS Returns

If you do not file TDS return on or before due date, Rs.200/- per day penalty should be paid.

Download TDS Rates

Form-16 & Form-16A

Form 16/ 16A is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees. These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to Tax Payers.

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Our clients have access to free support from an expert team. We are always on standby to help. If you need assistance at any point before, during, and after the registration of your company, you will be able to reach us by telephone or email.

If you have any kind of Income Tax TDS Return filing requirements, feel free to write to us or talk to one of our representatives and we will get back to you within 24 hours.

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Let's Clear Your Doubts

What is TDS Return?

TDS Return is also known as TDS Statement. It is a summary of all the transactions related to TDS made during a quarter of a financial year. It needs to be submitted to the income tax department quarterly before the due date. TDS return contains details of TDS deducted and deposited by a deductor. TDS return has basic details of deductors and deductees like PAN, TAN, etc, TDS Challan information, deduction details, and other information as required by the government.

Who has to file TDS Return?

TDS Return filing is mandatory if TDS has been deducted by the deductor in a particular quarter. However, it is not mandatory to file TDS Return if no TDS has been deducted by the deductor. In this case, the deductor should file a declaration of non-filing of the TDS statement with TRACES to avoid future notice from the IT Department.

As per the Income Tax Act, every Payer/deductor who deducts TDS shall file their TDS return. The following deductors are required to file TDS return quarterly if they have deducted any TDS from the payment made.

  • Individuals if covered under Section 44AB (Mandatory Audit)
  • Firm
  • LLP
  • Company
  • Government offices
  • Any other deductor, where the number of deductees records in a return for any quarter of the financial year are 20 or more.
What are the types of TDS Returns and their Due Dates?

The following are the TDS returns and their due dates:

TDS Return Type Nature of Payment
24Q TDS Deducted on Salary Payments
26Q TDS deducted on payments other than Salary
27Q TDS deducted on NRI Payments other than Salary
Quarter Quarter Period Due Date
Q1 April to June 31st July
Q2 July to September 31st October
Q3 October to December 31st January
Q4 January to March 31st May
What are the penalties for not filing TDS Returns?

If you do not file TDS return on or before due date, Rs.200/- per day penalty should be paid.

What is Form-16 and Form-16A?

Form 16/ 16A is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees. These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to Tax Payers.