TDS Return Filing
Starting From ₹ 1,499
- Preeminent TDS Online Filing Services
- Simplify your TDS Return filing
- Fulfill compliance in the form of a return
- Ensure smoothness and transparency
- Secure, seamless, and high-quality work
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About TDS Return Filing
During every quarter, Tax Deductor submits a TDS return to Income Tax Department. Tax returns are statements that detail the tax collected, the source of collection, and the tax paid to the government.
In general, taxes are deducted from transactions such as salaries, payments to professionals on a contractual basis, payments of rents in excess of a certain amount, etc. For every such kind of transaction and payment, there is a specified rate of interest. Only if the deductor has filed the TDS return on time can the deductee claim the tax deducted.
Advantages of TDS Return filing
Prevent tax evasion
TDS Return Filing Helps People To Control Tax Evasion.
Widens the tax collection base
Due to TDS deductions occurring throughout the financial year, it is an effective way for the government to expand tax collection
TDS Return filing Process Flow
1-2 HOURS
2 WORKING DAYS
2 WORKING DAYS
2-3 WORKING DAYS
2-3 WORKING DAYS
Documents required for TDS Return filing
- Adhar Card
- Mail Id
- Phone No.
- GST Details
- No. of transactions for filing TDS returns
- Name of the entity - Proprietorship/ Partnership/ Company/ LLP
Comparison
| Comparison Basis | Private limited company | Llp | Sole proprietor |
|---|---|---|---|
| Raising Fund | ✓ | ✕ | ✕ |
| Start-Up India Recognition | ✓ | ✓ | ✕ |
| Complince Cost | ✓ | ✓ | ✕ |
| Suited For | Growing Startup | Service Provider | Small Business |
| Taxation Benefit | ✓ | ✓ | ✕ |
FAQs
Assesses who deduct tax from a source must file a TDS return. There is no need to file a TDS return unless tax has been deducted.
As the name implies, TDS is collected on the source of income, so the frequency of collection is the same as the frequency of transactions. This makes tracking deduction difficult. Therefore, a certificate on the letterhead of the deductor is issued to the deductee for the TDS payment. Individuals are recommended to request for TDS certificate wherever applicable, if not already delivered.
The taxpayer failed to file a TDS return before the due date and has to pay ₹ 200 per day of delay in filing as an additional fee. Apart from an additional fee, the penalty can be imposed u/s 271H of the Income Tax Act. The minimum penalty specified is ₹ 10,000 which may extend to One Lakh Rupees.
The taxpayer failed to file a TDS return before the due date and has to pay ₹ 200 per day of delay in filing as an additional fee. Apart from an additional fee, the penalty can be imposed u/s 271H of the Income Tax Act. The minimum penalty specified is ₹ 10,000 which may extend to One Lakh Rupees.
Tax Deducted at Source (TDS) must be deposited through banks using Challan 281 quoting the TAN number of the entity. The deadline for payment of TDS is the 7th day of each month.
Yes. It is mandatory for deductors and employees to submit their PAN as well.
While paying TDS, e - payment is the compulsory process.
The following are the basic duties of any individual who is responsible to deduct tax at source. • He shall receive the Tax Deduction Account Number and quote the same in all the documents pertaining to TDS. • He shall deduct the tax at the source at the applicable rate. • He shall pay the tax deducted by him at the source to the credit of the Government (by the due date specified in this regard*). • He shall file the periodic TDS statements, i.e., TDS return (by the due date specified in this regard*). • He shall issue the TDS certificate to the payee in respect of tax deducted by him (by the due date specified in this regard*). *Refer tax calendar for the due dates.
TAN is an alphanumeric 10-digit number needed by a person who is liable to deduct TDS and file a TDS return. Thus such a person must make an application within a month of deducting TDS for allotment of Tax Deduction and Collection Number (TAN) in Form 49B. This number allotted is required to mention in all TDS Certificates issued, returns, challans, etc. If a person fails to apply for TAN he may be penalized up to Rs. 10,000/-.
t is a document that functions as an annexure to the intimation to be sent to the deductor. Intimation will be sent to the deductor through mail/post but a justification report will have to be downloaded from the portal.
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