TDS Return Filing
TDS stands for ‘Tax Deducted at Source’. It was introduced to collect tax at the source from where an individual’s income is generated. The government uses TDS as a tool to collect tax in order to minimise tax evasion by taxing the income (partially or wholly) at the time it is generated rather than at a later date.
Those entities which have TAN Registration must then file TDS returns. TDS returns are due quarterly. We can help you file your TDS returns online. Our TDS experts can help you compute your TDS payments and e file the TDS return and keep you in compliance with TDS regulations.
TDS Return Form
There are different TDS Forms have been set 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:
| S.No. | Form | Periodicity | Particulars |
|---|---|---|---|
| 1 | Form 24Q | Quarterly | Quarterly statement for TDS from “Salaries” |
| 2 | Form 26Q | Quarterly | Quarterly statement of TDS in respect of all payments other than “Salaries” |
| 3 | Form 27Q | Quarterly | Quarterly statement of TDS from interest, dividend or any other sum payments to non-residents |
| 4 | Form 27EQ | Quarterly | Quarterly statement of collection of tax at source |
Due Date for TDS Filing
The due date for Payment of TDS deducted is seventh of the next month. For March, it is 30th April of the next year. The due date for TDS filing is as follows:
This makes it crucial for Entity to understand which compliances are applicable over it and when to file the returns to avoid unwanted penalties. S S Poddar & Company makes it easier for Businesses to understand their TDS Related compliance requirements by connecting with our team of experts.
| Quarter | Period | The due date for Filing Form 27Q |
|---|---|---|
| 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 |
Non-Compliance With TDS Compliance Requirements
This makes it crucial for Entity to understand which compliances are applicable over it and when to file the returns & Deduct TDS, to avoid unwanted penalties.