TDS Return Filing

Missed deadline or confused about how to file TDS returns? GarudaMudra makes it easy with professional assistance and full compliance as per the Income Tax Act. Here’s what you get:

1. FREE OF MISTAKES By Tax Professionals.
2. Sec 192 / TDS on Salary including HRA, Gratuity etc. 
3. Sec 191 / TDS on Rent paid 
4. Covers Forms 24Q, 26Q, 27Q, 26QB etc.
5. Avoid Late Fee & Penalty (Section 234E & 271H)
6. End-to-End Expert Assistance
7. Used by 10,000+ Companies, Startups & Professionals

What is TDS Return Filing?

A TDS return is a statement which has all the transactions made under TDS for a particular period of time. It contains:

1. Details of PAN of the deductor and deductee
2. Details of amount of TDS paid to the government
3. Challan details of deposited tax

“The details appearing in the return are also incorporated in the payee’s form 26AS. It is compulsory to file TDS returns by all those who are liable to deduct tax at source as per the Income Tax Act.

What is a Revised TDS Return?

If you filed a TDS return and have made some mistakes then you rectify it by submitting an revised returns. Common corrections include:

1. Wrong PAN details
2. Errors in deductee data
3. Incorrect TDS figures/challan information

Filing an amended return enables ensuring the records maintained with the Income Tax Department are correct and the credit of TDS for the deductees is smooth. It also negates arguments, delays or penalties. You can file the corrected return online on the TRACES website.

Purpose of Filing TDS Return

Filing TDS returns is advantageous to the Government and taxpayers:

For the Government

1. Facilitates Prompt Tax Collection: TDS assists the Govt in ensuring the direct payment of tax from the source i.e., salary, rent, professional fees etc.
2. Prevents tax evasion: Compulsory reporting increases the tax base and deters tax evasion.
3. Assists Tax Department: TDS returns are so useful in all this, because it allows the department to monitor the income spent by the tax payer and verify the same with the records and see that everything is compliant.

For Deductors (Who deduct TDS)

1. Relief from Legal Tangles: Filing of TDS returns prevents you from penalties, interest or even prosecution for failure to comply with TDS compliances.
2. Transparent Records: Tax deductible records may help in providing financial transparency.
3. No Fines: Filing on time and accurately ensures that you avoid costly penalties.

For Deductees (Vendors or Others from whom TDS is deducted)

1. Claim Tax Credit: Discrepancy in TDS deducted is directly shown in Form 26AS which is very useful to claim Credit/Refund upon filing ITR.
2. Confirm Earnings: Supply an income verification and payroll deduction record.

Different TDS Return Forms/Certificates

The Income Tax Department has notified separate forms for different kinds of TDS returns:

1. Form 24Q: Quarterly statement for payment of salary (domestic staff). Needed for generating Form 16.
2. Form 26Q: Return for non-salary payments to residents (Interest, Commission, Professional Fees, Rent etc.) – Quarterly.
3. Form 27Q: Quarterly statement for tax deduction at source for payments made to non-residents (Interest, Dividend, Royalty, Technical Service Fees, etc.).
4. Form 26QB: For filing TDS statement on purchase of property exceeding ₹50 lakhs. Buyer needs to reduce by 1% and record in 30 days.
5. Form 26QC: To be filled in to report TDS on rent of more than ₹50,000/month (Individuals & HUFs, Section 194-IB).
6. Form 27EQ: For quarterly returns of TCS (Tax Collected at Source) by the seller in respect of goods being sold / services being provided.

How to Download TDS Return Forms?

You can download the TDS forms on the TIN-NSDL website:

1. Visit the official TIN-NSDL portal
2. Go to the “Downloads” tab
3. Select e-TDS/e-TCS
4. Scroll to “Quarterly Returns”
5. Choose “Regular”
6. Download your required PDF form

Benefits of Return Filing of TDS on Time

Benefits of Filing the TDS return on or before the due date:

1. Avoids late fees & penalties
2. Prevents interest on late deposits
3. Ensures legal compliance & credibility
4. Seamless business without tax constraints
5. Quick refunds and expedited TDS certificates
6. Saves time you don’t have to waste, Gain energy to go and be free to spread cheer and clear stress
7. Minimizes errors and rework
8. Assists on Improved Financial planning & Cash flow management

Who Can File TDS Returns?

Who are liable to file TDS returns: Everybody who deduct tax at source and have TAN (Tax Deduction and Collection Account Number) are required to file TDS returns. This includes:

1. Individuals
2. Hindu Undivided Families (HUFs)
3. Companies
4. Partnership Firms
5. Associations of Persons (AOPs)
6. Local Authorities
7. Government Offices
8. Any other deductor of TDS

TDS returns are filed against payments for:

1. Salary
2. Securities income
3. Insurance commission
4. NSC-related payments
5. Lottery, puzzle & game winnings
6. Horse race winnings

Documents Required for Filing of TDS Return

You will need:

1. TAN & PAN (Deductor+Deductee) Note Signature of the Author Note With form 26Q, please attach Form 27A Note Note With 24G, form 26 AND FORM 27A) Note Note (Year…….) TAN UNDER THE (Financial year:YYYY-YY)(Digital Signature Certificate details, if applicable) Registration No.
2. (CIN, date, amount, BSR code) TDS Challan particulars.
3. Previous return details (if applicable)
4. Digital Signature Certificate (DSC) (where corporate deductors is the deductor).
5. Form in TDS is right (24Q/26Q/27Q/26QB/26QC)
6. name, address, PAN amount, TDS train commercial numerical amount 4,60,327 ConciseCFO | CPC TDS ANALYSIS (INCLUDING AGGREGATE DEPOSIT) DEDUCTOR TAN period SEC-194-IA) filled by key us us o o * * * * us Deductee Details Deductee Details SYSQU EDIT GRphical A.
7. Bank details (for refund purposes)
8. Form 26AS (for cross-verification)

Step-by-Step: How to Upload TDS Return Online

1. Collect Documents – PAN, TAN, challans, previous returns, etc.
2. Choose the Appropriate Form – Depend on the payment (salary, property, rent etc.).
3. Download RPU (Return Preparation Utility) – Free software from TIN-NSDL.
4. Prepare Return – Fill up the necessary details (deductor, deductee, challans).
5. Verify Return – Check with FVU if there is a validation error.
6. Create FVU File – The one which needs to be submitted.
7. Upload Online – Login with TAN on IT Dept’ portal, Upload the file, attach DSC if required.
8. Acknowledge – Retain the submission slip as proof of submission.

TDS Return Filing Fees

You do not have to pay any Government Fees to file TDS returns.

There can be professional fees if you hire a CA or tax professional.

1. Penalty for Late Filing (Sec 234E): ₹200 per day until the return is filed – Limited to the TDS Amount.
2. Penalty (Sec 271H): ₹10,000 to ₹1,00,000 on late/incorrect filing.
3. Penalties & Consequences of Non-Compliance

Late Deduction (Sec 201(1A)): 1% interest per month from due date till deduction.

Late Deduction: 1.5% interest/month from deduction to deposit.

Expense Disallowance (Sec 40a): 30% Domestic Or 100% Non-resident of expense disallowed if TDS not deducted/deposited.

Late Filing Fee (Sec 234E): ₹200 per day of default.

Penalty (Sec 271H): ₹10,000 – ₹1,00,000.

Prosecution (Sec 276B): 3 months – 7 years of imprisonment + fine for not depositing TDS.