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TDS Return Filing India | TDS Return Status | TDS Refund

TDS Filing: Eligibility, Filing Process, Due Dates, Revised TDS Return, TDS refund

Any person or business who deducts TDS needs to file TDS return, It is filed with Government every quarter, the purpose of it is to inform on the TDS deducted on the payments made by deducter and also and the TDS deposited by deducter in particular quarter. TDS return is filed online. TDS refund is possible only id compliance of filing is completed by party deducting TDS. The smart way is to consult your Chartered Accountant to ensure you are complying with TDS law and getting your TDS refund in a correct manner.

TDS Provision compliance

TDS you pay every month, you receive a challan, this Tds paid Challan is useful at the time of return filing, where you give details on tds deducted and paid by you. TDS filing every quarter is mandatory, The Return form of TDS is prescribed by the Government. The filing has to be done as per TDS due dates specified. Non-filing of return as per TDS provisions attracts penalty. Noncompliance to file TDS provisions gets reported to authorities through financial reporting. The objective is to keep a check on TDS payment status and compliance with the provision of TDS also TDS refund is possible only when filing compliances are complete. TDS refund can be claimed through filing ITR only if your tax computation shows that excess tax has been deducted in your case. Consult a Chartered Accountant to get help on TDS matters.

How to know if TDS deducted has been deposited after deduction ?

If your tds has been deducted, you can check the same online through form 26AS in income tax India Government website.

Documents Required for filing e-TDS Return

Who should deduct and pay TDS ?

An individual or a business makes payment if such payment exceeds the limit specified as per income tax act, the payer has to deduct tax before making the payment, this portion of tax is called tds. Basically here the person making payment is collecting tax on behalf of the Government. The party which deducts tax and makes payment is deducted and the party receiving payment is deducted. Every party deducting tds shall mandatorily do the tds e-filing or online TDS Filing.

Party whose tax has been deducted can claim this TDS deducted as TDS refund forfor the financial year in which TDS has been deducted. TDS refund can be claimed at the time of ITR Filing. In order to claim TDS refund, it is important that the party which has deducted your TDS has done the proper TDS filing.

Frequently Asked Questions

What is TDS return filing?

TDS is the abbreviation that is used for Tax deducted at source. As its name suggests, it’s a system that was introduced with the motive of Income tax collection at the very source of income generation. According to the Income tax act, any individual/company is required to deduct income tax at the prescribed rate if the payment exceeds a certain threshold limit.

What are the types of tds return forms?

TDS is deducted on the following type of payments:

  • Salaries
  • Interest on securities
  • Dividend received
  • Rent Brokerage / commission
  • Transfer of immovable property
How do I upload TDS return filing statement?

Go to Income tax official website

  • If you are a “Registered User” then click on “Login” or else “Register yourself”
  •  Enter your login credentials [User ID, Password, Captcha]
  •  Post successful login, Upload TDS statement.
  •  Select the appropriate statement details from the drop-down menu viz. FYU   Version, Financial year, Form name, upload type.
  •  Click on “Validate” to validate the TDS statement details.
Can I file TDS return myself?

Yes, an individual can file a return on their own, but there are certain technicalities involved in TDS return online filing which can be better interpreted by some field expert viz. Chartered accountant/company secretary/Income tax consultant etc.

How can I file my TDS return Form 26Q online?
  • TDS return form 26Q is not to be filed by an individual but it is the responsibility of the payer, who is making the payment to file Form 26Q in the required manner.
  • When the payment made is not in respect of salary, and then the payer had to file return in Form 26Q. Form 26Q is to be submitted on a quarterly basis and at the time of making payment, the payer has to deduct TDS.
  • Form 26Q contains only one annexure which contains the details of challan details, details of deductor and deductees.
What is TDS return filing due date?

April to June

  31st July

  July to September

  31st Oct

  October to December

  31st Jan

  January to March

  31st May

Who can file TDS return?

TDS Return can be filed by employers or organizations that have a valid Tax collection & deduction account number (TAN). Any payment which is specified under the IT Act are required to deduct tax at source and need to deposit such amount with the government account within the stipulated time frame. Payment which attracts TDS are as follows:

  • Payment of salary
  •  Income on securities Income earned on lottery, puzzles, etc.
  •  Income from wining a horse race.
  • Payment in respect for the National saving scheme.
What are the TDS return forms?

Form 24Q

  Tax deducted at source (TDS) from salaries

  Form 26Q

  Tax deducted at source (TDS) on all payments    other than salaries.

  Form 27Q

  Tax deduction on income received from              interest, dividends, or any other sum payable      to non-residents.

  Form 27EQ

  Tax collection at source.

How to download TDS return forms?

Follow the 5 simple steps which will make it convenient for you to download forms:

  • Visit NSDL Website
  • Go to downloads
  • Find e-TDS/e-TCS       
  • Click on “quarterly returns” & choose “regular”.
  • Select TDS Return form under section “Form”.
How to check e-filing TDS return status?

Unlike the traditional system where you need to visit the Income tax departments physically to get your TDS return status, Now in the digital era, it’s much easier to check your TDS return status online just by following the mentioned steps.

  • Click on the link
  • Enter the captcha details correctly
  • Click “Proceed”
  • Enter the details; PAN of deductee, TAN of deductor, Financial year, Type of return and the “quarter” for which the details are required.
What is the penalty for non-filing or late filing of TDS return filing?

Non-filing or late TDS return filing will attract some penalty as per the provisions of Income tax act, 1961.

Section 234E of Income tax act: The deductor will be charged INR 200/day until TDS is paid [Subject to the maximum of the TDS amount]

Section 271H of Income tax act: In case wrong details are submitted such as Incorrect PAN, Income tax amount etc. then the penalty may range between INR 10,000 – 1, 00,000

What is the Interest rate applicable for TDS Payments?
  • Under section 201 (1A) of the Income tax act, if TDS/TCS not collected on the source either partly or fully, then an interest penalty of 1% per month will be charged from the date on which the amount was supposed to be subtracted to the date on which it is actually subtracted.
  •  In case the tax is deducted, and has not been paid partly or fully an interest penalty of 1.5% per month will he charged from the date on which the tax was deducted till the date it is actually paid.
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