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TDS Filings

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TDS Filings

TDS Return Filing Online in India - Overview

TDS return can be filed by employers or organizations who avail a valid Tax Collection and Deduction Account Number. Your filed TDS statements should be prepared using Returns preparation utility. Kanakkupillai provides error free filing of TDS solution to file TDS returns, Income Tax Returns

Every individual whose TDS has been deducted can go for his/her TDS return filing in India. Step to file TDS return filing includes the submission of documents such asTAN (Tax Deduction and Collection Account Number), Permanent Account Number (PAN), amount deducted, TDS payment, mode of payment, etc.

TDS or Tax Deducted at Source is a type of tax deducted by any person who makes the payment if the payment is more than the prescribed threshold limit. The Income-tax Department manages and regulates the rate at which the TDS filing has to be deducted. The entity or an individual which deducts a certain amount is named as Deductor, and the person whose tax is withheld is named as Deductee. It is one of the responsibilities of the Deductor or the employee to deduct the tds return utility before making the salary or payment and it is done to deposit it to the government. With Kanakkupillai, TDS Return filing becomes a simple process as we have the best experts and need online verification to avoid all types of errors in the TDS return filing process.

The Categories under which TDS Return is filed

The employer in a company can file for tds return form through its a valid TAN (Tax Collection and Deduction Account Number). The payment categories based on which TDS Return is submitted n case of businesses and individuals are:

  1. Any person whose account is audited under the section 44AB
  2. Any individual who is holding office as per the government norms.
  3. Salary of any person

The assesses are required to file the penalty for late filing within the prescribed date. The categories under which are qualified to tds return filing online every quarter are:

  1. Company
  2. The Income or Insurance Commission from any other ways such as puzzles, lottery etc.
  3. Payment or income from any National saving Scheme.

Advantages of Filing TDS Return Online in India

As per the Income Tax Act 1961, tds e filing is compulsory for any individual or any business organization.

  1. TDS Return filing before or within the prescribed time helps the government in tagging the reports and records of the influx of Income.
  2. The amount received from the TDS Return filing is used for the welfare of the public.
  3. There is no burden on any individual of paying the lump sum of tax at once, as the tax can be paid on a quarterly basis.

The Documents needed for TDS Return Filing Online in India

Following Are The Documents Required During The Process For The TDS Returns Filing Online:

  1. Tax Collection and Deduction Account Number or TAN
  2. Permanent Account Number or PAN
  3. Incorporation Date or registration date of the Business.
  4. The time span for which the TDS has to be filed.
  5. The details of previous TDS filing.

The Procedure for Filing TDS Return in India

The TDS Return filing process contains the complete information of the amount deposited by Deductor and total TDS deducted, TAN and PAN of the Deductor and Deductee, details of the challan etc.

Below Are The Different Types Of TDS Return Filing Forms As Per TDS:

Dictated Form

Purpose of Tax Deducted at Source or TDS

FORM 24Q

TDS from Salary

FORM 26Q

TDS from all payments other than salary

FORM 26QC

TDS for the income received as rent that exceeds Rs.50,000.

FORM 27Q

TDS from another source of income like interest from any savings, Dividend funds, income from any fixed deposits.

FORM 27EQ

The tax deducted at Source

A signed Form 27A acts as a summary of the tds online filing deducted and deposited, hence it has to be attached along with the return statement for the quarterly tds dates

Due date details for Filing the TDS Return

Though the filing of TDS Return can be done online, it should be filed on or before the due date for each quarterly submission. For the financial year 2019-20,

Quarter

Quarter Period

Last date of filing

First Quarter

1st April to 30th June

31st July 2019

Second Quarter Of the year

1st July to 30th September

31st July 2019

Second Quarter Of the year

1st October to 31st December

31st January 2020

Second Quarter Of the year

1st January to 31st March

31st May 2019

Observe:

The closing date for filing the tds revised return deducted as per the session 1941A for the March month is within the due date of 30th April 2020.

The Penalty if the Deductor fails to File the TDS Return Filing before the due date

Any person or any entity who fails to submit the TDS Return on or before the due dates as specified are liable to pay the penalty or late filing fee.

Late TDS Return Filing Under Section 234E

  1. For such late TDS return filing process continues sum of Rs. 200 for every day. The penalty shall not exceed more than the sum of income tax tds return. The late TDS return filing fee is needed to be deposited before the Filing the process of TDS Return.

The Penalty As Per Section 271H

  1. The authority officer can impose the penalty to the defaulter, that can be a minimum of Rs. 10,000 and a maximum of Rs.1 lakh. The mentioned above penalty is the addition of late TDS return filing fees.

Other than the tds return filing utility , a penalty is also attracted in the case of the incorrect TDS Return filing process.

Steps for registration

Step 1

A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradise

Step 1

A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradise

Step 1

A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradise
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Broadline numbers

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Email Us at

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Frequently Asked Questions

Answered by our experts

Any person who is having payment for prescribed goods or services required to file the TDS Return. TDS is not needed to be subtracted by individuals and HUF or Hindu Undivided family.

TAN is the short form of Tax Deduction and Collection Number. It is an unique alphanumeric ten-digit number used for the TDS Return filing. Any individual needs to make an application before a month of deducting TDS for allocation of Tax Deduction. If any person fails to apply for don't own a TAN, that particular person will be penalized up to Rs.10,000.

Dictated FormPurpose of Tax Deducted at Source or TDS
Form 24QTDS from Salary
Form 26QTDS from all payments other than salary
Form 26QCTDS for the income received as rent that exceeds Rs.50,000.
Form 27QTDS from another source of income like interest from any savings, Dividend funds, income from any fixed deposits.
Form 27EQThe tax deducted at Source

For failing to file TDS Return under Section 234E – A sum of Rs. 200 is penalized per day till the TDS returns filing. Also, the penalty should not exceed more than the amount of TDS return filing. A minimum of Rs. 10,000 to a maximum of Rs.1 lakh is penalized as per the section 271H.

No, the Form 26Q is not filed separately. Along with Form No. 26Q, a separate annexure has to be submitted for all the payments made to occupants.

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