TDS & TCS Return Filing
✓ File TDS Return
✓ Upto 25 deductees
✓ ₹5 per deductee after 25
TDS & TCS Return Filing
File your TDS & TCS Returns:
➦ Acknowledgement of Return Submission
We will provide you the Acknowledgement of successful submission of your Return.
➦ Regular updates on Rules & Rates
Our Professionals will provide you the regular updates on TDS & TCS rates and the applicable rules on regular basis.
➦ Form 16 of Deductees
You will get the Form 16 of all the deductess.
Note down the Required Documents
✍ TAN of Deductor
✍ Details of ledger accounts for which TDS is deducted
✍ PAN of persons whose TDS is deducted
✍ Challans of TDS deposit
✍ Nature of TDS deduction i.e. contractor, professional, rent, salary etc.
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Know about TDS and TCS Return Filing
For TDS & TCS Return Filing TAN or Tax Deduction and Collection Number (TAN) is mandatory. TAN is a 10 digit alphanumeric number required to be obtained by all persons who are responsible for Tax Deduction at Source (TDS) or Tax Collection at Source (TCS) on behalf of the Government. Tax deducted at source (TDS) ensures that the Government’s collection of tax is proponed and the responsibility for paying tax is diversified. The person deducting the tax at source is required to deposit the tax deducted to the credit of Central Government – quoting the TAN number. Individuals who are salaried are not required to obtain TAN or deduct tax at source.
However, a proprietorship business and other entities (i.e., Private Limited Company, LLP, etc.,) must deduct tax at source while making the certain payments like salary, payment to contractor or sub-contractor, payment of rent exceeding ₹ 1,80,000 per year, etc. Those entities have TAN Registration must then file TDS returns. TDS returns are due quarterly. TaxRodo can help you file e 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.
If you do not have TAN Click here.
1. Who is required to file TDS return?
It is the duty of the person who is making payment to someone for specified goods or services to deduct TDS and file TDS return. The specified payment includes salary, interest, commission, brokerage, professional fees, royalty, contract payments, etc. The person who deducts TDS is called deductor and the person whose tax is being deducted is called deductee.
2. What are the different types of TDS forms?
Different types of TDS forms are as follows:
• Form 24Q -TDS on Salaries
• Form 26Q – TDS on payments other than Salaries
• Form 27Q – TDS on payments made to Non-Residents
• Form 27EQ – TCS
3. Is PAN mandatory for deductors and employees/deductees?
PAN of the deductor has to be given by Non-Government deductors. It is essential to quote PAN of all deductees.
4. What are the due dates for submissin of quarterly TDS returns?
Due dates of submission of quarterly TDS Return is 31st July for Q1, 31st October for Q2, 31st January for Q3, and 31st May for last quarter.
5. Who is required to issue TDS certificate?
Every person deducting tax as per provisions of section 203 is required to issue a certificate to the payee in respect of tax deducted by him along with certain other particulars. This certificate is called TDS Certificate. Even banks deducting TDS on pensions issue TDS certificates.
Types of TDS certificate to be issued in different cases:
• Salaries: Certificate is to be issued in Form 16 containing details of TDS Payment, tax deducted at source and tax calculation based on which TDS was estimated. The certificate should be issued within 15 days of filing fourth quarter return.
• Non Salary Payments: Certificate is to be issued in Form 16A containing details of payment and tax deducted at source. The certificate should be issued within 15 days of due date of filing the return.
• TCS: Certificate to be issued in Form 27D containing the Tax Collected & Paid details.
6. How and when the TDS must be deposited?
Tax Deducted at Source (TDS) must be deposited through banks using Challan 281 quoting the TAN number of the entity. The deadline for payment of TDS is the 7th day of each month, but for the months of March its 30th April.
For assistance in deposit of TDS/TCS reach out to us at (+91) 9141 888 444 & we will guide to deposit your TDS/TCS.