TDS RETURN FILING PROCEDURE AND SERVICES
TDS is the Tax deducted at source at the time of making a payment to a person and is mandatory to be paid as per the Income Tax Act 1961. When an individual deducts these taxes has to deposit TDS with the government. As per the rules, the employer who deducts the tax is known as the deductor and before making the payment he deducts the tax and renders it to the customer who is referred to as the deductee. This tax is then deposited with the central government of India.
As per the norms, the TDS is applicable for salaried employees, interest payout from banks, lawyer and consultant fees, etc. There is a certain slab fixed in deducting the taxes which can range anywhere between 10-20%. Also a person can claim the refund of the extra amount if his/her TDS deduction exceeds the limit. TDS payment is available in two forms; the electronic mode or E-payment and the Physical mode.
TDS return filing is very important to recover your refund. TDS return is a quarterly statement handed over to the income tax department which includes PAN details, particulars of Tax paid, details of TDS challan and various other required documents. Read More
|TDS on Salaries(24Q)||April-June||July 31|
|TDS on all payments other than salaries(26Q)||July-September||October 31|
|TDS on payments to non residents(27Q)||October-December||January 31|
Why Aavana for filing TDS returns?
At aavana we offer cost effective solutions in filing your TDS returns. Once you have chosen us, we ensure that all your TDS related functions are performed smoothly like e filing of TDS returns, reminders on due dates, necessary documents to be furnished and keeping you regularly posted with the Tax related updates from our TDS professionals.
Know the pre-requisites for filing TDS returns
- Must have an authentic TAN
- TAN should be registered before e filing
- TDS statement should be formulated with the use of Return Preparation Utility (RPU) and validated using File Validation Utility (FVU)
- It is compulsory to have a valid DSC registered for e-filing if you wish to upload using DSC
- The primary person’s bank account or demat account details should be provided or their PAN should be linked with Aadhar if wish to upload using EVC.
Filing of TDS returns is the fundamental responsibility of the concerned individuals and by doing so you add to the revenue source of the government, avoid tax evasions and can be assured that the tax is successfully collected and deposited with the government. Read less