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Important Tips for E-filing Your TDS Return

TDS (Tax Deducted at Source) is the amount withheld as tax from various kinds of payments like salary, contract payment, commission etc. as per the TDS rates prescribed by the government from time to time. The tax deducted from the income of the recipient is deemed to be payment of income tax by the recipient at the time of his assessment and the credit of TDS can be taken at the time of return filing. TDS return is necessary to be filed by the assessee who has deducted the TDS. These returns are necessary to be filed quarterly indicating the TAN of the assessee and all the details regarding the TDS collected for the period. The information includes amount of payment, amount of TDS, PAN of deductee, type of payment, etc. There are 4 types of TDS forms prescribed depending on the requirement.

Form No. Particulars
Form 24Q Statement of Tax Deducted at Source from Salaries
Form 26Q Statement of Tax Deducted at Source on all payments except Salaries
Form 27Q Statement for Deduction of tax from interests, dividends or any other sum payable to non-residents
Form 27EQ Statement of Collection of Tax at Source

The TDS returns has to be supplemented by verification Form 27A, which depicts the ‘total amount paid’ and ‘TDS deducted’ that must match with the corresponding amounts on the TDS return. TDS Return Due Date The TDS returns has to be supplemented by verification Form 27A, which depicts the ‘total amount paid’ and ‘TDS deducted’ that must match with the corresponding amounts on the TDS return.

Quarter Due Date
April to June 15th July
July to September 15th October
October to December 15th January
January to March 15th May

By Udyog Software Marketing Team

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