TDS Return Filing

What is a TDS return, and how do I file one?

Aside from submitting the tax, the diductor must also file a TDS return. TDS return filing is a quarterly statement that must be submitted to the Internal Revenue Service. Timely submission of TDS returns is required. TDS returns can be filed entirely online. The information of the TDS returns will appear on Form 26 AS after they have been filed. The following details must be provided when filing TDS returns:

The diductor’s and dedicatee’s PANs.

TDS challan information on the amount of tax paid to the government

What is TDS?

TDS (tax deducted at source) is a tax that is collected by the Indian government at the time of a transaction. In this scenario, the tax will be deducted when the funds are deposited to the payee’s account or when the payment is made, whichever comes first.

When a salary payment or a life insurance policy is made, the tax is deducted at the time of payment. This sum must be deposited with the Income Tax Department by the deductor. A portion of the tax is paid directly to the Income Tax Department through TDS. The tax is generally deducted in ten percent increments.

What is TAN?

The Tax Deduction and Collection Number, or TAN, is a ten-digit alpha number that must be obtained by anybody who is responsible for deducting or collecting tax at source on behalf of the government. Salaried persons are exempt from obtaining a TAN or deducting the tax at source.

In the case of proprietorships, companies and other organisations must deduct tax at the source when making certain payments, such as salaries, payments to contractors, and rent payments that exceed Rs.2,40,000 per year. The TAN registrations may be obtained with the aid of SRCC.

TDS returns must be filed quarterly by companies with a valid TAN registration. Our TDS experts can assist you in calculating TDS payments and filing TDS returns while adhering to TDS laws.

Eligibility Criteria

Who can file TDS returns?

Organizations or employers that have obtained a valid tax collection and deduction number file TDS returns (TAN). Anyone making specified payments under the Income Tax Act is obligated to deduct taxes at the source and deposit the tax within the time limits for making subsequent payments.

  • Payment of Wages
  • Returns on investments
  • Winning lotteries, puzzles, and other games can help you make money.
  • Winnings from horse races Insurance commissions
  • Payments for the National Savings Scheme, among other things.
TDS return filing procedure

The following is a step-by-step guide to filing TDS returns online. 

  1. To begin, fill out Form 27 A, which contains many columns, and verify the physical copy of the Form together with the E-TDS return, which has been filed electronically.
  2.  The tax deducted at the source, as well as the total amount paid, must be accurately filled out and totalled in the following step.
  3.  The organisations’ TANs must be included on Form 27 A. If the TAN provided is wrong, the verification procedure will be complicated.
  4.  The proper challan number, the manner of payment, and the tax details must be provided while filing TDS reports. There will be a discrepancy if the challan number or payment date is wrong, and the TDS returns will also need to be submitted afresh.
  5.  The basic Form used for filing the e-TDS must be utilised to ensure uniformity. To make the tallying procedure easier, the 7-digit BSR must be entered.
  6.  NSDL manages the TIN FC, where 6 physical TDS returns must be filed. In the event of an online filing, they can be submitted on the NSDL TIN’s official website.
  7. If the information given is correct, a token number or a provisional receipt is issued. This is evidence that a TDS return was filed.
  8.  If a return is rejected, a non-acceptance memo is sent, along with the reason for the rejection, and the returns must be re-filed.
TDS Return Form

What are the different types of TDS Forms?

TDS forms are based on the dedicatees’ income or the sort of dedicatees who pay taxes. The following are the TDS forms:

24Q TDS Form

An employer deducts TDS from an employee’s wage in accordance with Section 192 of the Income Tax Act 1961. The Salary TDS returns must be filed on Form 24 Q, which must be submitted every quarter. In Form 24 Q, the details of the salary given to workers, as well as the TDS deducted from the payment, must be stated. To put it another way, Form 24 Q is a quarterly statement of the payment given to the employee as well as the TDS taken by the deduct or.

26Q TDS Form

On some situations, when a taxpayer pays taxes, the payee deducts TDS. TDS information on payments made other than wages is filed using Form 26Q. The Form shows the total amount paid in a given quarter as well as the amount of TDS that has been deducted. Every quarter, Form 26 Q must be submitted.

27Q Form


Form 27 Q is a TDS return or statement that specifies the Tax Deducted at Source on payments made to non resident Indians and foreigners other than salaries. Every quarter, or before the due date, Form 27 Q must be submitted. The TDS deducted on payments is calculated using Form 27 Q, which provides the information of the payments made.

What is a TDS Certificate?

It is required to provide the TDS Certificate once the deductor has deducted the TDS. A valid TDS certificate from TRACES with a 7-digit unique certificate number and a TRACES watermark can be used to double-check the tax credit.

The deductee is required to keep the TDS certificates. TDS certificates for non-salary payments are issued every quarter, whereas TDS certificates for wages are granted once a year.

In the event that the deductee misplaces the certificate, he can seek a duplicate TDS Certificate.

Failure to file TDS returns might result in a penalty.

If the assesses fails to file the TDS returns by the due date, the assesses is subject to a penalty of Rs.200 per day till the failure is corrected under Section 234 E.

Failure to file TDS returns

If the assesses does not submit the return within a year of the due date, or if the individual provides inaccurate information, he or she will be subject to a penalty. The fine is not less than Rs. 10,000 but not more than Rs. 1,00,000.

TDS Returns Revised

The tax amount credit with the government will not be shown on the Form 16A / Form 26AS after the TDS returns are completed and mistakes are identified, such as inaccurate challan data or the PAN not being given or being provided incorrectly. A amended TDS return must be completed to ensure that the money is correctly credit and shown in Form 16/ Form 16A / Form 26 AS.

Submission of Revised TDS Returns Requirements

Only after the initial TDS return has been accepted by the TIN central system may amended TDS returns be filed. The assesses can access the TIN Central System’s status. The assesses can use NSDL to verify the status of online TDS returns by entering the relevant information such as the PAN and the Provisional Receipt Number/Token number.

The most current consolidated TDS statement must be used to generate the amended TDS returns. The certificate is available on the TRACES website for download.

Making a TDS claim

TDS Credit can be claimed by the deductor. To claim the TDS credit, the deductee must include the TDS information in his income tax filings. When submitting income tax returns, the deductee must be careful to include the right TDS certificate number and TDS information.

There would be a difference with the tax credit for processing the TDS returns if the deductee provides erroneous information.

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