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TDS Returns
TDS Return- Features, Forms and e-filing Process
What is TDS Return?
Tax Deductible at Source (TDS) is the quarterly statement that a deductor submits to the Income Tax Department. It indicates the summary of each entry for the TDS collected or paid by the deductor to the Income Tax Authority.
Unlike, TDS amount, which is deducted during payment, it is deducted when the income is credited into the payee’s bank account or during making payment, whichever is earlier.
Why is TDS considered tax evasion?
As TDS is deducted during the payment of salary or life insurance policy. The TDS deducted amount will be submitted to the Income Tax Department, from where some proportion of the tax is automatically paid to the Income-tax Department. That’s why TDS returns online are termed as tax evasion.
Is submitting a TDS return mandatory?
Indeed, for a deductor submitting TDS (TDS return online) is mandatory. And to meet TDS compliance requirements, you can avail our TDS return services
Features of TDS Return e-filing | Features of TDS Return Online
Your every TDS return e-filing must be done in an individual CD.
Every TDS return e-filing must include the duly filled and signed Form 27A in physical form.
Every TDS return e-filing must have a CD or floppy.
In the case of Form 26 and Form 27, the deductor should not provide the physical replicas of certificates of no deduction or lower deductions of received TDS from deductees.
Each CD or floppy must be labeled, including the deductor’s name, TAN, Form number (Form 24, 26, or 27), and period to which the return is related.
CD or floppy must be virus-free.
TDS return e-filing must include the deductor’s TAN, without which the return won’t be accepted.
If the e-TDS file is in compressed form, you must use Winzip 8.1 or ZipItFast 3.0 to smooth and instant file acceptance.
In the case of Form 24, a deductor must provide physical replicas of certificates of “no deduction or deduction of TDS at lower rates” (if any received from deductees).
You must not overwrite or strike on Form 27A. If there is any present, it must be ratified by the authorized signatory.
Forms Under TDS Return | TDS Return Filing Forms
Forms under TDS return online or TDS return filing forms/ TDS return e-filing, different forms needs to be filled as per the periodicity,
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Form Number
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Particulars
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Periodicity
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|---|---|---|
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Form 24
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Under Section 206 of Income Tax, 1961, Annual Return on Salaries
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Annual
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Form 26
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Regarding all payments excluding salaries, an annual return of deduction of tax
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Annual
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Form 27
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Statement of tax deduction from interest, dividend, or any other sum payable to a particular individual
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Quarterly
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Form 27E
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Annual return on tax collection
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Annual
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Form 24Q
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Quarterly statement on tax deducted at the source from salaries
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Quarterly
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Form 26Q
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Quarterly statement of tax deducted from all payments excluding salaries
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Quarterly
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Form 27Q
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Quarterly statement of tax deducted from dividend, interest, or other sums payable to non-resident
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Quarterly
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Form 27EQ
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Quarterly statement of tax collection at source
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Quarterly
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