An Expert Assisted TDS Filing
TDS Return Filing On Salary Payment-
Form 24Q
Services Covered
TDS Return Filing On Payments Other Than Salary -
Form 26Q
Services Covered
TDS Return Filing On Salary And Other Payments -
Form 24Q & 26Q
Services Covered
TDS Return Filing On Payments Made Outside India-
Form 27Q
Services Covered
TDS On Rent - Form 26QC
Services Covered
TCS Returns- Form 27EQ
Services Covered
TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at the source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates prescribed by the tax department. The company or person that makes the payment after deducting TDS is called the deductor and the company or person receiving the payment is called the deductee. It is the deductor’s responsibility to deduct TDS before making the payment and deposit the same with the government. TDS is deducted irrespective of the mode of payment–cash, cheque, or credit–and is linked to the PAN of the deductor.
TAN or Tax Deduction and Collection Number is a mandatory 10 dight alpha number that is to be obtained by all people who are responsible for Tax Deduction at Source or Tax Collection at Source on behalf of the Government.
The person who deducted the tax at the source is required to deposit the deduction to the Central Government quoting his TAN number.
In the case of proprietorship businesses and other entities must deduct tax at the source while making certain payments like the salary, payments to the contractor, payment of rent, etc. Filinghouse can help you obtain the TAN registrations.
The entities that have TAN registration must file the TDS returns quarterly. Filinghouse can help you file the TDS returns online. Our TDS experts can help in computing the TDS payments and file the TDS returns and comply with the TDS regulation.
TDS returns can be filed by organizations or employers who have availed a valid Tax collection and deduction Number (TAN).
Any person making specified payments mentioned under the Income Tax Act is required to deduct tax at the source and they need to deposit the tax within the stipulated time.
The due date for Payment of TDS deducted is the seventh of the next month.
Different TDS Forms are depending on the income of the deductee or the type of deductee who pays the TDS. The different TDS forms are listed below as follows:
| FORM | PERIODCITY | PARTICULARS |
|---|---|---|
| Form 24Q | Quarterly | The quarterly statement for TDS from “Salaries” |
| Form 26Q | Quarterly | Quarterly statement of TDS in respect of all payments other than “Salaries” |
| Form 27Q | Quarterly | Quarterly statement of TDS from interest, dividend, or any other sum payments to non-residents |
| Form 27EQ | Quarterly | Quarterly statement of collection of tax at source |
| Quarter | Period | The Due Date for Filing |
|---|---|---|
| Q1 | 1st April – 30th June | On or before 31st July |
| Q2 | 1st July – 30th September | On or before 31st October |
| Q3 | 1st October – 31st December | On or before 31st January |
| Q4 | 1st January – 31st March | On or before 31st May |
Under Section 234E, you will have to pay a fine of Rs 200 per day (two hundred) until your return is filed. You have to pay this for every day of delay until the fine amount is equal to the amount you are supposed to pay as TDS.