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TDS Return Filing – An Overview
Tax Deducted at Source (TDS) Return Filing is a quarterly statement submitted by deductors to the Income Tax Department, detailing the TDS deducted and deposited. It is mandatory for employers, businesses, and individuals deducting tax at source. Timely TDS return filing ensures compliance, avoids penalties, and enables deductees to claim tax credit based on Form 26AS.
Compliance with Income Tax Law:
TDS return filing is legally required for every person or entity deducting tax at source.
Avoid Late Fees & Penalties:
Filing TDS returns on time prevents penalties under section 234E and disallowance of expenses.
Helps Deductees Claim Credit:
Filed returns ensure TDS reflects in Form 26AS, enabling smooth Income Tax Return (ITR) filing for deductees.
Documents Required for TDS Return Filing
To successfully file TDS returns, the following documents and details are required:
TAN Registration Certificate (Tax Deduction Account Number)
PAN Card of Deductor and Deductees
Challan Details (Challan Identification Number - CIN)
Details of TDS Deducted and Deposited
Salary Details (for Form 24Q) or Contractor Payment Details (for Form 26Q)
Valid Digital Signature (DSC) (Optional for online filing)
TDS Return Filing Timeline
TDS returns must be filed quarterly: Q1 (Apr-Jun) by 31st July, Q2 (Jul-Sep) by 31st Oct, Q3 (Oct-Dec) by 31st Jan, and Q4 (Jan-Mar) by 31st May. Timely filing avoids penalties and ensures smooth issuance of Form 16/16A.
Frequently Asked Questions
- What is TDS Return Filing?
- Who is required to file TDS returns?
- What happens if TDS return is not filed on time?
