Online TDS Return Filing

Frequently Asked Questions

Find answers to the most frequently asked questions on the Tax Deducted at Source in India.

What is TDS and why do we need to file a TDS return?

TDS is the amount of tax deducted by the buyer when he makes any payment to any vendor. The responsibility of depositing the TDS amount is with the person deducting TDS. This TDS is deposited in the government account by filling up a challan for the same. Apart from this as a deductor of TDS you also need to file a return of TDS on a quarterly basis with the income tax department. Submitting this return is mandatory by a deductor. The common elements of a TDS return are PAN of both deductor and the deductee, amount of tax paid, quarter to which it relates, the rate applicable, TDS challan and such other details.

Who is required to file TDS Return?

Anyone who deducts TDS is supposed to file a TDS Return. However, some of them have to mandatorily e-file TDS Return. Section 206 makes it mandatory to e-file TDS Return for the following assesses:

i. All corporate deductors or collectors
ii. All government deductors or collectors
iii. Where the deductor or collector is required to get his accounts audited under section 44AB in the immediately preceding Financial Year
iv. Where the number of deductees or collected records in a quarterly statement for one quarter of the immediately preceding Financial Year is equal to or more than 20 any other assessee has the option to either file e-return or physical return.

What is Form 24Q, 26Q, 26QB, 27Q and 27EQ?

Depending on the nature of income on which TDS is deducted or nature of deductee 4 different return forms have been prescribed by the tax department.

What are the payments covered under TDS, their threshold and their rates for Tax Deducted at source?

TDS is calculated on the basis of an income threshold limit which is exempt from TDS. Any income beyond the applicable threshold limit is eligible for TDS deduction. TDS is deducted as a percentage of overall payment and may range from 1% to 30% of the actual payable amount.

What are the due dates of filing TDS return?

The due dates for filing TDS return are explained in the table given below:

What is the process to make TDS payments?

You can make payment of any TDS by using e-payment facility of the tax department. Follow the following steps to deposit TDS online.
i. Go to https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp and log in.
ii. Select relevant challan online as applicable in your case.
iii. Enter valid PAN or TAN as applicable.
iv. If the PAN or TAN is found to be valid, you will be allowed to enter other challan details like accounting head under which payment is made, name and address of TAN, selection of bank through which payment will be made, etc.
v. Post this, you will be asked to confirm the details entered. After confirmation, you will be directed to the net-banking site of the bank chosen by you for making payment.
vi. After you make successful payment of TDS, a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made. Take a printout of the counterfoil and keep it safe with you as it acts as a proof of payment made by you.

How can The Account Masters help in TDS Return filing services?

he Account Masters Services are providing TDS Return filing service in Zirakpur Punjab, India.