TDS Return Filing
India's Top Business Consulting Company
Clients
CA / CS
Rating
Customer Satisfaction
TDS Return Filing - 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. Ritedger 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 as TAN (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 Ritedger, 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:
- Any person whose account is audited under the section 44AB
- Any individual who is holding office as per the government norms.
- Salary of any person
- Company
- The Income or Insurance Commission from any other ways such as puzzles, lottery etc.
- Payment or income from any National saving Scheme.
Advantages of Filing the TDS Return
As per the Income Tax Act 1961, TDS e-filing is compulsory for any individual or any business organization.
TDS Return filing before or within the prescribed time helps the government in tagging the reports and records of the influx of Income.
The amount received from the TDS Return filing is used for the welfare of the public.
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 the TDS Return Filing process
Following Are The Documents Required During The Process For The TDS Returns Filing Online:
Tax Collection and Deduction Account Number or TAN
Permanent Account Number or PAN
Incorporation Date or registration date of the Business.
TDS Return filing before or within the prescribed time helps the government in tagging the reports and records of the influx of Income.
The time span for which the TDS has to be filed.
The details of previous TDS filing.
The Procedure for Filing The TDS Return
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.
FORM 24Q
TDS from Salary
FORM 26QC
TDS for the income received as rent that exceeds Rs.50,000.
FORM 27EQ
The tax deducted at Source
FORM 26Q
TDS from all payments other than salary
FORM 27Q
TDS from another source of income like interest from any savings, Dividend funds, income from any fixed deposits.
Due date details for Filing the TDS Return
Quarter : First Quarter
Quarter Period : 1st April to 30th June
Last date of filing
: 31st July 2019
Quarter : Second Quarter Of the year
Quarter Period : 1st July to 30th September
Last date of filing
: 31st July 2019
Quarter : Second Quarter Of the year
Quarter Period : 1st October to 31st December
Last date of filing
: 31st January 2020
Quarter : Second Quarter Of the year
Quarter Period : 1st January to 31st March
Last date of filing
: 31st May 2019